Payday Loan Consolidation Company
6574 North State Road 7 #137 Coconut Creek, FL 33073
Mon-Fri: 9am - 9pm
30 Mar 2020
federated financial

Federated Financial an illustrated history of us!

Federated Financial Services incorporated in the state of Florida January of 1998. We’ve come a long way. The world has changed, and almost 23 years of life has gone by. We started small. We were a little debt consolidation agency employing seven people. I never planned for us to grow. Well, not grow that much. I always believed we needed to stay small and controllable. It didn’t work out that way. The problem was unfortunately this country was rife with debt. We had never thought about that. Initially when we started, we advertised in local papers all around the United States. The response was immense. We had no choice. We had to add staff. People we’re calling from all over the country. Then the licensing and bonding process immediately began. It almost put us out of business. These two things were very expensive but we made it through and continued to grow. Six months later we found the Internet. Or actually it found us. I had a website designer come in and tell me that we should be advertising our service because his mother used us and we were great. We bought our first domain. I wanted Federated Financial.com. It was taken. We ended up with ffs – inc.net. Short and sweet and right to the point. Little did I know that my web designer was studying SEO. When the point in time came that he felt his understanding of the process was deep and unique, we decided to create a site and make it SEO friendly. The response was crazy. Our SEO certainly did a good job. We had number one ratings in all the major categories on the one search engine that was relevant at the time. That was AOL which was powered by Excite. We needed more staff. By the year 2000 we employed over 50 people

https://web.archive.org/web/19991104034304/http://ffs-inc.com:80/

We started to grow in and bounds and the industry followed. In 2002 all the creditors we dealt with required us to become certified as an ISO company. I always thought manufacturers were the only companies that had to do this but I realized it was a quality control system, and given that we dealt with large sums of information and money we jumped at the opportunity to become a member of such a prestigious club. And we grew again! In August of 2001 I finally got the domain I was looking for. We were now federatedfinancial.com. Given that people were flocking to us in droves we decided it was time to start from scratch and create a real comprehensive website which said it all. And we did. That site gave us the ability to reach more people and to tell people what we were all about. We were only two and a half years old and we had 30,000 clients. We were also A+ members of the BBB , receiving that distinction in 1999. In addition we were well-established members of the community and of the industry. With an in-house IT staff of six, we felt we were technically the most innovative company of them all.

https://web.archive.org/web/20030419062219/http://federatedfinancial.com/

We needed to change with the times. Business was great and we were doing a hell of a job. We finally knew we had made it. My IT department re wrote our existing software and we prepared for the crunch. We had 50000 clients. As our site became more relevant our position improved on all of the search engines and we literally had hundreds of number 1 positioning online. Only one of the company was doing this at the time. They were good too. That was good for both companies because kept both it staffs on their feet thinking all day long. Everybody wants to be the best. We always considered our clients friends and family. We treated them as though they were our sisters and brothers. That showed in our results. Over 80% of our people completed our program and got out of debt. We still continued to grow and every year the criteria became more stringent for ISO certification. We always passed the inspection. Our quality control department made sure of that. We became very compartmentalized. It felt so corporate. We had 80 employees.

https://web.archive.org/web/20061124142449/http://federatedfinancial.org/

All of a sudden it was 2005 and we were one of the top three companies in the United States. We had over 60,000 clients and a staff of 105. We had an HR department, we had a review department. We had a customer service department. We had every single department you needed to run a big strong credit counseling company and we did. We did it well and we did a great job. We occupied 18000 square feet with a hundred plus employees and the clients just kept coming. We learned firsthand what really was going on here in America. Things weren’t “Rosie”. That’s an understatement. Then came 2008 and 2009. The world came to an end. Our country had a financial meltdown. I thought we’re going to have to throw in the towel. Who would think about paying bills when the markets crashed and the banks were really hurting. The federal government had to bailout General Motors and Chrysler. But, not only did we survive but we thrived. To this day I absolutely believe it was due to the unparalleled customer service that we provided our clients. We always bent over backwards to do the right thing, but in time, everything passes and the country was once again up and running. I liked our website a lot and it served the purpose. It became recognizable. It was almost a symbol of our company and people just knew it! There was no reason to change it cuz it worked. We were a successful company. Nobody complained because we did a great job. Our debt consolidation and payday loan consolidation programs were working and people were relaxed and happy knowing that their bills were getting paid and the creditors were not calling them anymore. We had succeeded in the mission that we started off to accomplish years before. 10 years old and doing our job. I was very proud.

We kept this website in different incarnations for a long time. Probably seven or eight years. Then we switched to the above. This website has been up since 2015 in various incarnations and you’re looking above at the iteration we use today. This website is a vast encyclopedia of knowledge plus information, and we provide that for everybody because there should be no reason people can’t have access to good strong information like this on the Internet.

We are still in business after all these years and we’ve scaled it down a bit. This industry isn’t what it used to be and we don’t have the same volume of clients that we used to, but we’re still quite large and we’re not going anywhere. We have a track record and we have the same ownership now that we had almost 23 years ago.There are more Americans to help and we plan on helping them. The name Federated Financial stands on its own. Everybody knows who we are and I’m proud of that. I created something from scratch and I’m still doing it today. If you need our help and are having payday loan consolidation or debt consolidation problems just please, give us a call. We can help. In most situations we can reduce your payday loan interest from up to 700% annually all the way down to zero. It’s easy if you know what you are doing. After all this time we definitely do. You’ve come to the right page and if you need our help you’ve chosen the right company. Payday loan debt consolidation is our specialty and we can save you lots of money getting you out of debt.

17 Mar 2020
consolidate payday loans

Locked in the house, try Payday Loan Consolidation

Locked in the house! What do we do with the family and the kids?

Yesterday, March 16th 2020 this surreal world just got a little stranger. The president and his staff came out with the 15-day plan to flatten the curve of the coronavirus. The key to it all is not to overwhelm our healthcare system. We don’t want what’s happening in Italy to happen in the United States. People are dying in Europe, and doctors are having to make incredibly difficult choices because they don’t have the equipment they need to help all their patients at once. Too many patients and not enough equipment. The administration was very positive yesterday expressing, that if we all do our job, by sticking to this 15-day plan, we can stave off many deaths and much suffering. So we’re here in the worst case scenario with the premise of the theme behind the Presidents strategy being to cut out as much social integration as possible. There’s a good chance that you’re out of work right now and voluntarily being confined to your home. Whether it be with the kids or not it can become a long, arduous and lonely ordeal. The way I look at it is, we’re almost donating 3 or 4 months of our lives so we can save them, and live for many years to come. For many, money is going to be tight. Bills need to be paid and more than likely they’ll be some sort of financial relief from the government over and above unemployment.

Following the regulations that are set forth by the government is something we all have to do together. It comes down to a choice. Given that we’re going to be staying home much of the time we can either be happy or sad. Watching the news all day is not good. Bad news is sad. I’d like to make some really good suggestions about how to spend this down time. Some of the things that I’m going to tell you you will find surprising.

NBC Universal which is the national broadcasting network’s movie division has decided that they’re going to release first-run films to stream at home. They’re going to charge us for it and I’ll get into that in the moment but it’s a bargain. Their reasons are not entirely altruistic. They have product and nowhere to exhibit it. Movie theaters are entirely closed in 32 or more markets overseas and partially closed in another 15 territories. Aside from the New York and Los Angeles where theaters have already gone dark, many states have ordered that there be no public gatherings of more than 10 people. Originally it was 50 and then reduced to 10. Ten people in a movie theater watching a first-run film doesn’t turn a profit. It doesn’t even make back the cost of making the film, nor does it put money in the theaters pockets.

The studios walk a thin line because of their partnership with the distributors and the theaters that show their films. Given that the theaters are not able to show the films right now, Universal has become the first studio to release their brand new films on streaming video. These films will include The Hunt, The Invisible Man as well as focus features, Emma. Universal says that they will continue to evaluate the decision as indicated by what’s going on in the country. As I said before this is not an altruistic decision but it’s a decision that’s a good one. The studio can make back a good portion of the cost of a film and entertain the public with something brand new. I know for sure, that Amazon prime will be streaming these films. Given that money is tight at home it’s a great deal for everyone involved. Consumers and studios. They’re charging $19.95 to stream these films. At first glance that might sound like a lot of money. Especially when you can rent movies online from 1.99 to 5.99 each. Here’s the thing. How much does it cost to take a family of four to see a brand new film? Round numbers…. Perhaps an average of $10 a ticket figuring children’s prices along with the adults. In addition the overpriced snacks end up costing another $25 or $30 minimum. To say it costs $75 for a family of four to go to the movies in 2020 might just be an understatement. For the sake of this post let’s say it’s not. Consequently there’s a $35 savings just by staying home and watching these films. All the snacks are in the refrigerator or the pantry. Obviously that saves you from paying $4 for a large soda and five or six dollars for a large popcorn. it’s a really good deal to entertain the family for a couple of hours and more importantly to entertain yourself and forget about life for a while. I was shocked to hear this .I never thought it would happen because it would be precedent-setting but we live in times that are uncharted and sometimes things like this must be done on the fly.

There are also many other things to do that don’t cost money. Things that you’ve been meaning to do for years and just never got around to doing. Psychiatrists and psychologists have been saying that exercise is the key to not being depressed. It also gets you out in the sun for a little while, especially if you take a nice long walk. Pop in your earphones and take a walk around the neighborhood for a half hour. Just keep in mind that we are trying to keep our “social distance from people” and make sure you do that just to be safe. You won’t insult anybody. They want to keep their distance too. There are too many benefits not to engage in this act. Benefit number one is getting out of the house. The next benefit is the walk itself which is exercise. When you’re exercising your body releases chemicals that actually make you feel good. In addition exercise and the vitamin D you’ll get from being out in the sun are major contributors in strengthening your immune system which certainly helps you during a flu pandemic. Try doing this three or four times a week for a half an hour. You’ll be glad you did.

Read a book. Come on, there has to be a book out there that you’ve wanted to read for the longest time but because of your obligations to work, your husband and the kids you haven’t. The time to do it is now. Most ebooks are less than $5 and older titles are free. If you want a new release and you have your heart set on that book, go to Amazon and see if you can find it used. Nothing like getting lost in a fantastic book. I’d recommend reading Stephen King’s, The Stand, but unfortunately it’s about a virus that wipes out most of the world and we don’t want to be reading stuff like that now. Best novel ever written. We’re not in that situation and this is not Armageddon. This situation will pass by midsummer latest.

I hate going back to the TV for a moment but if you want to keep the kids occupied during the day, and yourself at night there’s still no better buy than the $17 a month that Netflix charges you for their service. There’s just so much to watch and their original content is just great. I highly recommend it.

Even as I write this I think to myself it seems very strange to be recommending activities to people when they should be working but we live in a strange time right now. We are in uncharted waters and there’s nobody alive that would remember the Spanish Flu epidemic of 1918. With this virus we just wing it and play it by ear. I do know that during this time when work is closed there are going to be some bills that won’t get paid and the government won’t be able to help us out a whole lot. If that’s your case your problem is with advance fee payday loans, I would highly recommend an Advanced Cash Loan Consolidation. While I’m recommending this I’d also like to recommend that you try our company. Federated Financial has been in business for 23 years it is rated a+ by the BBB our specialty is Advanced fee payday loan consolidation. We’ve been working with  Advanced fee loans for many years now and have a  with great working  relationship with all you’re creditors.99% of the time will be able to work with your particular creditors and we can ensure that in most cases your interest rates will be reduced down to 0% getting you out of debt much more quickly than you could have done on your own. Cash advance loans can be frightening. A great cash advance loan, payday consolidation company can take care of your every need. If you doubt that give us a call right now and speak to one of our accredited counselors and let them show you how to start saving money today. Twenty three years and an A+BBB rating should instill the confidence in you to trust us in consolidating your cash advance payday loans.

10 Mar 2020
payday loan consolidation company

When Science Fiction becomes Science Fact, The whole world Suffers!

Well folks, the unthinkable has happened and it’s here. For the first time since 1918  there is a worldwide pandemic going on. The world has been rattled by the coronavirus. Unfortunately there’s no cure yet and more than likely it will just run its course here in the United States like it’s done in China. All business is suffering. It’s not just about “rich” people losing money in the stock market anymore. More than likely there will be quarantines. Small businesses will stop operating for a specific amount of time. Some will reopen some won’t.

Casualties of something that we can’t control. This financial disaster will affect almost everyone in this country. Hopefully, only in the wallet and not physically. there’s a chance that everybody who’s reading this article could be out of work in the next week or two for an unspecified amount of time. There are many of us who live paycheck-to-paycheck. I wrote about something like this scenario in an article back before the virus hit our shore. It’s here now. What people do during this crisis will affect their financial future for a long time to come. The financial decisions you make during these bad times need to be well thought-out lest they affect your future. There might come a time where you’ll need to borrow money. There are many different ways to get into debt. Some of them are palatable and some of them are completely distasteful. If you can get a personal loan when things go badly I highly suggest that you do just that. Sometimes people have to borrow against their credit cards. I’m not a believer in that but for the right reasons it certainly is the right move. Everybody has to eat and everybody has to pay their bills.

We are in uncharted waters and we don’t know what lies ahead. I know that as a last resort people take out payday loans. High interest, short-term Advanced payday loans at egregious interest rates that can run up to 700% per annum. What do you do when the crises is over and the day of reckoning comes? These loans have to be paid!! High interest payday loans are difficult to pay off. When your income returns, the last thing you want to do is be paying that incredibly high interest rate. How do you avoid it?

Easily answered! Payday loan debt consolidation, or Advanced loan debt consolidation as some call it is absolutely the answer to Payday loan debt. Federated Financial, with well over 20 years of experience in dealing with your creditors is able to have your interest rates reduced down to 0% in most cases. Doing that lowers those giant monthly payments by reducing the interest rates and having you pay only principal in most cases instead of interest. I couldn’t imagine why anyone would continue to pay the interest rates that these payday lenders charge instead of doing payday loan debt consolidation. When you’re stuck with your back against the wall, and the whole country seems like it’s falling apart, you do whatever you have to do to survive. If you must take out payday loans, when it comes time for relief you must do payday loan consolidation. Call the number on the top of our page, or fill out the form. You’ll be glad you did!

07 Mar 2020

How do I legally get rid of payday loans?

How do I legally get rid of payday loans?

That’s an easy question. I’d like to answer that for you right here, and right now. Federated financial has been in business for 23 years. We care about you, and we work for you, the client. We do not work for your creditor. Instead we work with the creditor for you and there’s a big difference there. All you need to do is give us a call or fill out the form on the top of our page and all we need are the names of your creditors and the account numbers if you have them. We can work with you even if you don’t have the account numbers readily available. The creditors that you have are creditors that we have worked with for many years, and yes, we can work with you and help you legally get rid of your payday loans. That is for sure!

We are not a payday loan company, We consolidate these types of payday loan debts. Helping to reduce our clients payday loan interest rates down to zero percent in most cases, allowing them a chance to get debt free.

Federated Financial has worked hard to ensure that local and on-line communities receive the very best possible level of care and support possible. Our counselors, customer service representatives, and creditor relations specialists are certified as credit counselors by the independent National Institute for Financial Education.

Our goal is to teach payday loan consolidation to consumers everywhere how to understand and manage debt so that they can achieve and maintain financial security. We understand the important monetary issues and challenges life can send your way and we are here to help. Our free community outreach programs, which include public seminars, walk-in clinics, newsletters, and on-line materials, give all of our visitors the ability to understand how credit works; how to overcome financial obstacles; and how to achieve important economic goals.

04 Feb 2020
eliminate payday loans

How to stay out of stupid debt and consequently eliminate the need for payday loans (part 2)

In my last post I detailed a couple of the things that I’ve seen over the years take people down both physically and financially. These things are unnecessary and a total waste of money. Let’s go over a couple more things that cost you way too much and the first one is a necessity of life…

Did you know or should I say do you know what the manufacturer of your automobile recommends that you use when you gas up your car? I myself didn’t know the answer to that question until 2 years ago. I finally asked. I bought an SUV and it came with either a 4-cylinder turbocharged engine or a V6. I chose the V6. I also thought that because it is a V6 that I needed to put 93 octane gasoline in the car. Bigger engine better gas,? Right? I was wrong. The average prices for gas in Florida, the state that I live in is $2.36 for regular and $3.13 for high test. That’s a $0.77 per gallon difference. Doesn’t seem like much does it? If you drive 20000 miles a year it is. If you average 20 miles a gallon you are buying 1000 gallons of gas a year. That’s almost $800. More than you should be spending if you’re using the wrong gas. Now let’s take that back to my post from the other day. Let’s add that to the $7,200 that we came up with there. The total is now $8,000 a year that we’re totally wasting on things that are that are non essential, AND definitely essential too. But there’s more. Let’s go shopping!

Did you know that? Well I don’t have I did you know that answer right now but I do want to mention this one last thing that most people really don’t relate to but we all do it. We buy junk. Yes we walk into a grocery store and many times we buy junk. So we buy that 12 pack of Coke or maybe two. Perhaps we buy a case of beer. Chips and dips. Candy. Little boxes of fruit punch for the kids. Maybe we pick up The Enquirer at the checkout. This is math I can’t do for you because I don’t know how you shop. What I do know is these are the things that get you into debt. And once again we’re talking about non essentials here. Not to be redundant but shopping like that along with little things like using the wrong gasoline for your car or going to Starbucks, or smoking costs a whole lot of cash. I will reiterate that if you have to borrow money to buy these items you probably need to reassess the things you buy. If these bad habits have gotten you into debt consider debt consolidation for your credit cards or payday loan debt consolidation for your payday loans. Either way you go, a good payday loan consolidation company can reduce your interest rates down to 0%. That’s whether you have payday loan debt or credit card debt. Payday loan consolidation and credit card consolidation are proven commodities and they work.

04 Feb 2020
eliminate payday loans

How to stay out of stupid debt and consequently eliminate the need for payday loans (part 1)

I’m going to start this article by saying that I’m no preacher. I’m just a guy who over the years has seen many people go deeply into debt. 20 to 25 years ago it was credit card debt. Today, more and more people are going the payday loan route. Invariably they end up deep in debt and end up consolidating those loans. You’ve heard it before. Let me be the last person you hear this from. Let’s do this as a did you know:

Did you know that an average pack of cigarettes in the United States today costs $6.28.A pack a day habit sets you back $188 per month or $2,292 per year. A two-pack-a-day habit would set you back $376 a month or $4,584 a year? Did you know that? I’m an ex-smoker, and I haven’t smoked in over 25 years.I’m grateful that I quit for my health, and that I quit because today, I couldn’t afford to smoke cigarettes. None of us can afford to smoke cigarettes. They’re too expensive and more importantly than that they make you sick. They’re absolutely a cause of cancer and heart disease which is definitely not good for you. Short-term, if you are a two-pack-a-day smoker you will pay $376 a month to smoke. Does that sound like an electric bill, a water bill and a car payment all rolled up into one? Where do people go to get the money to pay their bills when they’re wasting almost $400 a month on a deadly habit. Payday loan lenders prey on people who smoke. I don’t mean that literally, but when we waste money on non essentials we open ourselves up to payday debt and all other types of debt which eventually will require either a payday loan consolidation, a credit card consolidation or a bankruptcy.

Did you know that a large coffee in Starbucks can cost over $5. Add in a $5 piece of pound cake and that’s $8 a day x 7. That equals $56……times 4 and you’re paying $224 a month. Now let’s take a step back. If we’re paying $376 a month for cigarettes and $224 a month for our morning coffee what does that cost us? Rhetorical question because the answer is easy and as plain as day.$600 a month for absolutely nothing. I know that the store brand of coffee costs less than fifty cents per K-Cup and a can of whipped cream probably costs $4. I think you can see where I’m going with this. If you are a smoker and enjoy your coffee on the road every morning you have a $600 a month habit, or $7,200 a year. That’s a lot of money that pays a lot of bills. If we spend $7,200 a year on non essential and absolutely dangerous items we could find ourselves in debt.

In the beginning of this post I said I’m not a preacher.That’s the last thing that people who know me would accuse me of. What I am is somebody who’s done all the things that people do today to waste money. I took out loans back in the old days to pay my bills and I complained to the people that I worked for that they weren’t paying me enough and I couldn’t afford to live. I buried my credit cards and finally ended up with a debt consolidation company to get out of debt quickly, or at least more quickly that I could have done myself. It seems that today, the quick fix is payday loans. Payday loans are very dangerous too. With interest rate that top off at 700% APR, they can financially destroy you and your family. Many people with payday loan debt finally get smart and turn to Payday loan debt consolidation. Payday loan debt consolidation can reduce interest rates down to 0%. My belief is we get to a certain point in life where we have to rebuke the things that are not good for us and remove the poisons from our bodies and our financial lives. Take this seriously. I speak from experience.

23 Jan 2020
payday loan consolidation florida

Payday Consolidation Loans and Laws in Florida

In some recent posts we’ve been talking about how laws that seem ironclad are easily being broken in States that either regulate interest, or have made payday lending illegal. Today we talk about Florida. In Florida, payday loans are referred to as deferred presentment transactions. That means the act of writing a post-dated check for money that’s borrowed today. Florida has enacted payday legislation. There’s a $500 limit on payday loans that are offered in the state of Florida.

They are allowed to be taken from 7 to 31 days with a maximum finance charge of 10% for every hundred dollars and maximum rate of 304% APR. The state of Florida only allows one loan at a time. in addition the state mandates what they call a cooling-off period of 24 hours between two loans that are taken in a row. In addition, the Florida statute states that you can’t roll over one loan into another. Those are the laws in the state of Florida. Let’s take this apart for a moment and analyze it. Florida allows a usurious interest rate of 304% APR. I question that. Why even have a law if you’re going to allow lenders to charge consumers over 300% in annual interest? There’s an answer there, but let’s take another step back.

SoF-seal

In the state of Florida, Law mandates that in the state predatory payday lending is it illegal and yes it comes up with a week caveat that only one loan at a time may be taken? My primary question would be, how does that benefit the consumer, keeping in mind that I can take a loan from Joe’s payday loan company and then walk down the block and take a loan from John’s Payday loan company. There’s no way to monitor that. Debt consolidation payday loans are freely available in the state of Florida and I’ll tell you why in a moment. The rollover portion of this law is plain stupid. People can take the loan from John’s company down the block to Joe’s company, and borrow the money from Joe to pay John. Here is what I believe is the answer.

stoflogo

Florida is home to some large Native American tribes. The Seminoles, the Muskogee’s, the Apalachees, the Camusa’s and the list goes on. These tribes make a huge amount of money on payday loans and consequently are able to employ huge lobby groups to continue to help them keep payday loans a viable option in Florida behind some very weak legislation.

If you’re in Payday loan debt and need help call a legitimate, old and established payday loan consolidation company for your debt help. Consider the company that hosts this blog. They’ve been in business 21 years with an A+ BBB rating.. Call them, you’ll be glad you did

18 Jan 2020
washington dc payday loans

Payday loans, Consolidation and Laws in Washington DC

I thought that would be interesting to go through the various 12 States and the one district that either limits payday loan interest or doesn’t allow payday loan lending at all. I’ll be doing one of these articles every week specifically looking into these states.

The maximum interest rate that can be charged in Washington DC is 24%. That is a cap that applies to any kind of personal loan in that district. This rate applies to every Bank and every Credit Union. The max rate would yield a financial result of $16.11 for every $100 borrowed. Unlike many other states that do not cap these loans DC has taken a step to protect the consumer. Other states charge up to 700% annually.

Before 1998 there were no caps on payday lending in Washington DC. In 1998 Washington DC cracked down on high interest predatory lending. That year DC made it illegal for Check cashers to issue post-dated checks. That law put a stop to payday lenders who relied on that particular way of payment. 9 years later in 2007, the district established a 24% interest rate cap, which would be considerably lower than the egregious 700% rates that other states allowed. There is an exception to this and that exception is that tribal lenders in-store fronts and online can still offer ridiculously high rates to DC residents. Unfortunately my guess would be that some residents don’t know about the laws of the district and are fooled by advertisements into borrowing from tribal lenders. A little bit of knowledge is worth a huge interest savings. Tribal lending is the only exception to interest rate laws in DC.

In addition to that, Washington DC makes it mandatory for all payday lenders to have a license. Breaking the law would cause these licenses to be revoked and put these lenders out of business.if you do a search on the internet for payday lending in Washington DC you will find companies that loan money in the district. Be very careful in dealing with them. Make sure by asking and always get everything in writing. The questions are simple. Are you a tribal lender? What is the maximum rate your company charges for a payday loan? If the answers are outrageous you’ve run into a tribal lender, or an online company owned by tribal lenders without an actual business address in Washington DC. Just walk away. There are legitimate payday lenders in our nation’s capital.

16 Jan 2020
predatory lending demographics

Payday loan purchase Insights & Demographics

Payday loan insights outline the targeted demographics of these payday loan companies. Many of these companies know that their customers can’t afford to pay them back. This industry has become almost predatory… it’s a very good thing companies like us work to consolidate this debt. These are telling numbers and a direct reflection on the differences between the rich and or comfortable, and lower-income people. Why Do people find Payday Loans make their financial situation worse? Payday loans are extremely short-term loans. They have to be paid back in full immediately or the interest on them carry anywhere from 200-700% or more APR when the fees are annualized. Why do so many people suffer… because Payday Loans are not heavily regulated and many are left in the wild west in regards to their finances. Let’s take a look at the target demographics of these payday loan companies, these statistics are courtesy of finder.com

Who takes out payday loans?

You might very well be surprised or you might not, but the reasons people take out payday loans are the scariest part of this article. Read on!

a. Payday loans are most commonly taken out by people ages 25 to 49. Senior citizens more commonly use their credit cards or take out personal loans.

b. People who haven’t completed a four-year college education are twice as likely to take out payday loans then college graduates.

c. People who are separated or divorced are twice as likely to take out payday loans than people who are married or single.

d. People with kids are more likely to take out payday loans than people without.

e. Renters are twice as likely to go the payday loan route as people who own homes.

f. African Americans are twice as likely to take out payday loans as people of other races or ethnicities.

Low income households, People with household incomes less than $40,000 a year are three times more likely to take out these high interest loans then people with higher incomes. People in households making between 15 and $25,000 a year are the most likely to take out a payday loan.

These are telling numbers and a direct reflection on the differences between the rich and or comfortable, and lower-income people. This country has no middle class anymore. Here’s the scary part of this story. 69% of all people who take out payday loans aren’t worried about emergencies, broken automobiles, busted washing machines or an air conditioner that doesn’t work. 69% of the 12 million people who take out payday loans every year use the money for simple daily expenses like food, electricity and water bills.

Rent payments and credit card payments. Credit card payments are a terrible reason to take out payday loans. Just stealing from Peter to pay Paul at usurious interest rates. There are no answers. Our society today doesn’t seem geared to help create the answers but instead to keep perpetuating the problem by not clamping down on these payday loan companies. At this point the best solution is payday loan debt consolidation. Reduce your interest rates down to zero and pay these damn things off quickly.

If you’ve found yourself or a friend stuck in this vicious debt cycle please have them contact us immediately!

12 Jan 2020
consolidate payday loans

Women in debt, not many people talk about that

Right now in America there are over 12 million single mothers.

That’s right, 12 million single mothers taking care of children under 18 and taking care of themselves. Staying out of debt and taking care of a family is difficult job. Debt happens. In many cases falling behind is inevitable. Women run up their credit cards too. When things get tight many women turn to Payday loans. Yes, those high interest payday loans are a last resort.Taking care of two young children and working 8 hours a day can take its toll on people emotionally and financially.

Single mothers get caught up in the cycle. 500, 600, 700% interest rates.

Unaffordable monthly payments. And before they know it a $1,000 payday loan turns into a $2,000 payday loan, the high interest rate driving the balances up. What should somebody in that situation do? Payday loan debt consolidation is the answer. Outrageous interest rates make these loans impossible to pay off yet, an old reputable payday loan consolidation company can get people in this situation out of debt without paying any interest on their balances. That’s right, 0% interest. Long-term relationships with creditors is the answer.

A payday loan debt consolidation company who has worked with any specific creditor for many years is a company that the Payday loan company trusts also. The Payday loan company trusts the payday loan consolidation company to work as hard as they can with the client to make sure they get paid back. It’s a win-win situation. The client gets out of debt in a shorter amount of time and the payday loan company gets paid. Remember, it’s near impossible to get out of high payday loan debt. Let the people who know how to do it help you today!