I get asked this question all the time…
Can A Person Consolidate Payday Loans?
And the short answer is YES!!
But may people have no idea that we provide this service (more about that in a minute).
When you talk to most people and you say loan consolidation – right away they think you’re talking about getting a consolidation loan from the bank.
And for most people caught in payday loan debt that is NOT an option.
Well think about it – if they could have approached the bank in the first place to help them out of their financial crisis I think it’s very safe to say they would not have gotten a payday loan.
You see a bank needs you to have good credit – well usually great credit – and if your credit is a little light then you need to have collateral that exceeds the amount of the loan.
Where as with a payday loan debt you don’t need any collateral what so ever – why would you – with their crazy interest charges you’re going to end up handing them your paycheck every 2 weeks until you pay the loan back.
And unfortunately most people just can’s do it. After they pay the lender they have no money left over for everyday things so they usually have to go get another payday loan to cover those costs.
And the cycle continues – actually it can get even worse. Some people have had to go to another lender to get a loan and then use that loan to pay off the first loan.
Why the hell would they do that?
They have no choice – mot lenders can only rollover a payday loan so many times.
What’s a rollover?
A rollover is the option that a lender will give you if you cannot re-pay the loan back in the required 2 week period. All the borrower has to do is pay a fee and the interest and then the lender will give the borrower another 2 weeks to pay the loan back.
Oh the borrower still owes the original loan amount, fees and interest. But a lender can only do this so many times, and believe me the lender loves it when this happens – in fact they want it to happen.
This is how the lenders make most of their money – they know most people cannot payback the loan right away so it just puts millions of dollars into their coffers.
So if you can’t get a consolidation loan from the bank, and you have no other resources for getting money to get out of your payday loan trap. What can you do?
You call us!!
We have a Payday Loan Consolidation Program that everyone qualifies for. You don’t need any collateral and we don’t care about your credit. All we care about is getting you out of your payday loan debt.
Using our program we will get your monthly payments reduced by 50 – 75% less then what you’re paying now for ALL your payday loans combined!!
Here check out this short video – and then call us right away 1-877-280-5100 or use our free online form. We can start getting you oput of your payday loan debt in as little as 2 hours!!