What We Do to Remove Your Debt
Payday loan debt relief and resolution is a fast, aggressive process. It is a step by step process that helps you to minimize your payday loan debt and rid yourself of payday loans once and for all. Payday loan debt relief and resolution programs are typically 12 months and are designed with two key factors in mind: affordability and results. First we will help you with your payday loans by consolidating your monthly payments into one that is affordable, depending on your budget. These monthly payments are used to help you settle your payday loan debt for good so you won’t have to continue making payments every 2 weeks that don’t lower your loan principal.
To find out your exact monthly payment please fill out the form on this page. It will only take a few minutes, and permanent payday loan help may be minutes away.
Warnings About Payday Loans…
Possible APR’s on Payday Loans…
Did you know that APR’s on short term payday loans can range from 300-1200% and sometimes even higher?! If you can only afford to pay renewal fees you ARE paying very high rates. Always check your contract and find out what you are paying BEFORE you take out a payday loan and make sure you have a plan to pay it back QUICKLY, or it just may not be worth it.
Implications of non payment…
Did you know that if you do not pay your payday loan when it is due you could be charged fees and interest that could add up to APR’s in the hundreds of percent! Often you could pay renewal fees that range anywhere from $10-$20 for every $100 you borrow.
Did you know that many payday loan providers will call to collect a late loan incessantly? These calls, unfortunately, are not always pleasant and the letters you may receive can be threatening. Keep in mind that if you get a payday loan and do not pay it back the lender will often use heightened collection activity and emotion to try and get you to pay. This may be very uncomfortable and they hope it pushes you to pay them even if you can’t afford your necessary expenses.
Did you know that payday loan providers can report to credit bureaus if you do not pay the loan which can affect your credit score negatively?
Did you know that if you cannot pay back a payday loan when it is due you will most likely be paying a ‘renewal’ or ‘rollover’ fee every two weeks which often does not go towards the principle you borrowed? Always understand the renewal policy of the loan before you take one out. Lenders must provide this information and consumers must know it to make an educated decision.
These are the warning signs of payday loans. Educating yourself on payday loan lending, especially what happens when you cannot pay it back in accordance to the terms, is vital if you plan on using a loan like this for help. Do yourself a favor and don’t find all this out after the fact. Do your homework BEFORE you take out a payday loan. You’ll be thankful you did.
Payday Loan Debt Relief
There are times when payday loan assistance is helpful, perhaps even needed. Possibly a family member gets sick, an unexpected bill arises or some sort of pressing emergency demands money when none exists. In these cases payday loans can help, especially in a time where obtaining payday loan help from a bank is unlikely.
It is important to recognize though that payday loans should be your last alternative. Why? Because if you cannot pay them off with your next paycheck you can find yourself in a downward spiral paying fees and interest for weeks, months and even years without paying down your payday loan principle. This is what you need to avoid in order to make a payday loan a viable and reasonable option and avoid needing payday loan debt help. Learn more about responsible payday loan lending.
Payday Loan Lending In The U.S.
The number of borrowers taking out payday loans, and the average payday loan debt amount has seen a significant increase, according to industry experts at MoneySupermarket. The studies suggest that payday loan debt has increased by a whopping 55 percent. Most experts attribute this to the rise in cost of living and credit restrictions. Financial experts also warn against the use of payday loans because of the high interest.