And so the Advance Loan Consolidation conundrum! Should I or shouldn’t I, and is Debt Consolidation good for you

I believe it’s a gift, but let’s digress for a moment. Let’s start with a better question? Should you take a payday loan under any circumstances? Most of the so-called experts will tell you no. No matter what happens never deal with payday loan lenders. They’re one step above, or perhaps one step below loan sharks. Their interest rates run between 200 and 700% annually and they charge outrageous fees. All of this is true. And I’ll digress one more time. Why are there payday lenders out there, and more importantly why do people take these loans?

My contention is, if used properly payday loans are not bad. Payday loans were created for a reason and then bastardized over the years. They were created because there are many out there with poor credit who are unable to get a conventional loan. There was no place for these people to borrow the 50, or 100 or $200 that they needed until Friday just to feed their families. Payday loans are nothing more than pawnshops without the collateral. My point is that used properly a payday loan can come in handy for a week or perhaps two. Payday lenders don’t want you to pay them back over a couple of weeks. Their business model is set up to create an endless cycle of debt, with one loan rolling into another. Changing the business model somewhere along the road is what made these companies that were initially a win-win situation, into a lose-win situation with the consumer being the loser. Therefore payday loans CAN work and they’re not a bad thing if they’re paid back quickly.

And now we come to the reason that you’re here. You borrowed money in good faith and more than likely got stuck by the Coronavirus. What I’m getting at is that you probably lost your job and weren’t able to pay your payday loans back. Now the country has reopened and your phone is ringing off the hook. Collectors are back at work collecting. What do you do? The answer is really simple and it shouldn’t cause you any financial stress. Payday loan debt consolidation works. You’re on our site so during business hours just give us a call. In most cases, we can lower your interest rate down to 0%, which in turn gets you out of debt more quickly and for less money each month. Why use Federated Financial to consolidate your payday loans? Because we make it easy. We’ve been in business 23 years and still maintain a Better Business Bureau rating of A-plus. As I mentioned, give us a call and speak to a certified credit counselor. in the alternative fill out our short form and a certified credit counselor will get right back with you during business hours. Your counselor will go over your debts with you and provide you with a new monthly payment, more than likely interest-free, that will get you out of debt in the shortest amount of time possible. In addition, the phone calls will stop. This will take away your anxieties regarding your debt. Payday loan debt consolidation works. We’ve proven that for well over two decades. Let’s get started today! We’re great at what we do and we treat our clients like family. We care!