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  1. Payday Loan Consolidation

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    What is payday loan consolidation?

    What is payday loan consolidation?

    What is payday loan consolidation?

    Payday Loan Consolidation comprises of compiling all the multiple payday loans into one loan with a single recompense. With the high interest rates that come with short-term borrowing, payday loan debts can sometimes be hard to handle and clear. Hence, payday loan consolidation becomes appropriate for a client who needs to clear payday loans promptly. It should be noted that this is not a new loan but it is the combining of multiple payday loans into one manageable loan with a single payment. When you opt to consolidate your loans, you will have to request a payday loan consolidation from your lender.

    We will connect you to many lenders in our network for you to obtain the necessary counseling to find out your present financial situation to get the correct evaluation. Once you have presented your loan request, your lender will evaluate your qualification and determine the amount of loan that you qualify for before the loan is disbursed to your checking account. Generally, payday loan consolidation is a good idea because you will have all your loans in one place. Once this is done you can focus on a single loan rather than many small high interest loans. Hence, you are able to make a single monthly repayment rather than several payments. Thus, you are able to identify how much is leaving the account to repay the loan.

    Why opt for payday loan consolidation?

    If you have the following attributes, probably you should consider the payday loan consolidation option.

    • if you have several payday loans, which means that you are dealing with several high interests and the vicious payment cycle, then payday loan consolidation will be appropriate.
    • loan consolidation will enable you to pay the several payday loans as one. That means you will incur an overall reduced interest rate and paying off will be manageable
    • if you are adding other payday loans in order to cover the ones you have already taken, then you are in need of payday loan consolidation. If you continue with the cycle of taking more payday loans, then you will probably continue sinking in debt

    Therefore, payday loan consolidation will help you counter the cycle of taking several payday loans to cover others. Additionally, if you feel trapped by the debt incurred and you are already living from one paycheck to another, then payday loan consolidation will enable you to solve the situation because you can focus your effort on eradicating one overall payday loan. Besides, if payday lenders are frequently deducting your bank account, that may leave you with huge sums in overdraft fees. Then you will need payday loan consolidation to manage your loan repayments in an organized and manageable manner. Furthermore, if your essential bills are beginning to get behind due to the overwhelming debt and rising fees, in that case, you will require the payday loan consolidation option to alleviate you from debt.

    How payday loan consolidation works

    You will receive expert advice and support during the loan consolidation request process and the repayment procedure. You will get guidance on how to handle your previous loans and consolidate them effectively. You can create a budget based on your present income or financial position to clear the payday loans as quickly as possible. When applying for payday loan consolidation, you can contact the support team to negotiate current terms such as interest and charges. You can track your payments by asking your lender to give a schedule on how you have made your payments over time.

    Types of payday loan consolidation options

    Types of payday loan consolidation options

    Types of payday loan consolidation options

    Payday loan consolidation options can vary with an individual’s needs and debt plan. Here are some of the choices you can take in order to have your payday loans consolidated. Consequently, you can use the debt consolidation loan or the debt management program. Debt consolidation loan involves an individual taking out a loan and using the money to pay off the debts completely. This means that the individual would have taken the power into his or her hands by taking a loan that will pay for the other payday loans, thereafter paying the overall loan manageable.

    It also means that the individual would need to have to have a good credit score to qualify to obtain the loan. A debt management program allows you to monitor your loan progress. You can know the areas to improve on and the amount remaining on your loan. You will get all information you need to know about the loan and how you can manage it without affecting your lifestyle. It is important that you choose a lender with competitive interest rates. This will allow you to avoid any extra charges.

    How can you get a payday loan consolidated?

    There are several professional ways that you can use to get a payday loan consolidated. For instance, you may list down all your debts to have an overview of them. This is a simple method and does not involve any third party. Another method involves contacting a genuine payday loan consolidation company to advise and combine your loans into one payment through their several programs.

    In addition, you can opt to contact a consolidation company to negotiate lower interest rates for the payday loans. Moreover, you can make new payment plans through working with a consolidation company. In this case, the company will settle on the highest payout for the payday loan and negotiate on your behalf with your lender. Therefore, you are able to clearly work out a proper plan to clear the payday loan promptly and with ease.

  2. Payday Loan Help

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    Once in a while as an employee, you may find yourself in a fix when it comes to financial matters. You can experience urgent financial obligations that are in between your pay days. In such situations, it is difficult of come up with an immediate solution. This is when you go for payday loan help, a platform for you to access financial assistance from lenders. Pay loan help are created to give you instant financing as an employed person in urgent need of cash. Compared to other loans, accessing payday loans is much easier as the lenders do not have a lot of requirements. The most important factor which many lenders are looking is the assurance that you are working and are able to repay the loan.

    accessing payday loans is much easier

    accessing payday loans is much easier

    Payday lenders make the process of acquiring payday loans easy for you. However, lenders also have different pay back terms but most of them give you up to two weeks or until your next pay check.  Some lenders also allow you to pay in installments. Remember that the amount of loan you get is determined by your current income or salary.

    Accessing Payday Loans is Much Easier

    Payday loans come in handy when you do not want to go for traditional lenders who always take a long time to assess your loan application and do not really understand the urgency. Payday are fast and will get you the financial relief as soon as possible. Lenders can actually give you your loan on the same day of your application. Generally, payday lenders do not go ask for your credit score and even asset verification. They do not require you to give additional references to give you the loan.

    Regardless of the fact that some payday lenders may offer their loans at higher interest compared to the traditional lenders, there are advantages to payday loans. For instance, when you choose a traditional lender to give you an unsecured loan, it may take weeks or even months in a situation when you needed cash immediately. Traditional lenders may not be your appropriate channel if you have urgent financial needs to attend to. Many people have realized and experienced fast pay day loans and are embracing it. More lenders are also joining the industry and therefore, the concept of pay day financing is growing.

    What you should note

    Always keep in mind and expect the interest of payday loans to be higher. This is only common because they are short term and fast loans. You also need to understand the term and conditions stipulated by your lender. You will always find a suitable lender among the many pay day lenders out there.

    expect the interest of payday loans to be higher

    expect the interest of payday loans to be higher

    When searching for payday loan help, it is vital to also evaluate and know what your financial crisis is all about. Check whether the pay day loan is what you really need. Take your time and compare different lenders and choose what is comfortable for you in terms of repayment terms.

    What are the limits?

    It is recommended that you do not sign up for pay day loans from many lenders at the same time as it may be difficult for you to keep track of the repayment and interest rates. Only choose one lender who is suitable for you. This also helps you create good relationship with your lender and subsequently, you may be able to access higher loan limits in your future loans with them.

    Lenders do not have a standard limit you need to understand your lenders terms. Some of them only want to give loans that are only within your salary limits. In most cases, during your lending process, you will be able to know the amount of loan you qualify for.

    When accessing payday loan help, you only need to provide basic information about yourself to your lender before the loan is deposited into your account.

    Today, pay day loans are usually the answer for urgent financial needs. When you are hit by an unexpected expense that needs your immediate attention, then your pay day loan lender can be timely help. Lenders have ready cash for you and they have made it easy for you to access. Getting to know about payday loan help can be life saving. Pay day loans offer you an opportunity to receive cash in the middle of the month and repay by the end of the month.

  3. Alternatives to payday loans

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    Payday loans are one of the most popular types of loans you can get, and that is mostly due to the fact that they are very easy to obtain. In some cases, a payday loan help could be exactly what you need to take care of emergency bills or to stabilize your finances and better manage your debts with payday loan consolidation. However payday loans come with a price and that is the high interest rate they carry. People who take out a payday loan expect it to be a one-time thing. They take out the amount fully intending to pay it back in two weeks or less. However, the average payday loan customer is in debt for five months or longer. So before you jump in straight for a payday loan, it’s best you look at other options. Here are some payday loan alternatives that could be a better match for your situation.

    • Payday loan alternatives

    • Personal installment loan

    One alternative is a personal unsecured installment loan from a responsible lender such as a bank, credit union or other financial institutions.

    • Payment plan with creditors

    If the problem involves debt, you can contact one or more creditors and negotiate partial payments or work out a payment plan on a temporary basis. Sometimes, delaying or lowering a payment or two is all that is needed.

    • Credit counseling

    Credit counseling

    Credit counseling

    While it is not an immediate solution, credit counseling can be quite helpful in avoiding getting stuck in deeper debt.

    • Paycheck advance

    Some employers grant paycheck advances. If you work for a large company, you should check with the human resources department if a paycheck advancement is possible. With a small business, ask the owner about an advance. Usually, since this is an advance and not a loan, there would be no interest. It’s important, of course, not to abuse this practice.

    • Credit card cash advance

    Even though a credit card cash advance isn’t ideal, even at 30% APR, it’s still much less expensive than a payday loan. However, be aware that some credit card companies take advantage of consumers who need quick cash by offering a secured credit card tied to a savings account or other assets.

    • Emergency assistance

    Often, local churches and community organizations provide emergency assistance, providing help with everything from groceries to utility bills, to making payment on your car.

    • Credit union or bank cash advance

    Family and friends

    Family and friends

    Many credit unions and banks have overdraft protection or cash advance provisions. Although more expensive than an installment loan, these options are less costly than a payday loan. Check with your credit union or bank to see what is available and sign up.

    • Family and friends

    Although borrowing from people you know can strain relationships, if you need a small amount for a short period of time and you’re sure you can pay it back, this option may be for you. Offer to pay reasonable interest on the money you borrow since chances are whoever lends you money is taking it out of another interest-bearing account.

    • Pawnshops

    If you have something of value you can use as collateral, a pawnshop might just be a loan option worth considering. Finance charges vary by location, so make sure you know what the cost of borrowing will be.

    • Life insurance loan

    Many whole life insurance policies provide for loans as long as you have cash value in the policy. Best of all, you have your entire life to pay back the loan. If you fail to pay it back, the insurance company subtracts the loan from the death benefit.

    • Conclusion

    It’s likely that there are more alternatives to a payday loan than you realize. One or more of them may very much fit your needs and be worth considering. Options that don’t include borrowing should be explored first, though almost any other choice is better than a high interest payday loan.


  4. Payday loan: advantages and disadvantages

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    There are certain times when you may need immediate financial assistance and can’t afford to wait for days or weeks for a bank loan to be approved. One of the best and fastest ways to get instant cash is applying for a payday loan with guaranteed approval. However,  before you dive in to get payday loan help and manage your debts with payday loan consolidation, let’s take a look at what a payday loan is, how to get one and its advantages and disadvantages.

    • What is a payday loan?

    What is a payday loan?

    What is a payday loan?

    Payday loans are a relatively new invention that came into existence in the early 1990s. Originally, payday lenders began exclusively as small shops where one could visit and personally apply for cash. Today, while those physical shops still exist, many payday loan transactions are done online from the comfort of one’s very own home.

    Taking out a payday loan is one of the fastest and best ways to get instant cash. No matter what your emergency is, applying for a payday loan will get you the needed amount of money in no time. Since the service is really fast and easy to get approval for (you usually get no credit check payday loans), payday loans have very high interest rates which are much higher than conventional bank loans. That’s because payday loan lenders take a risk in not seeking collateral from borrowers and only ask for basic personal information and lending money to applicants with bad credit. With payday loans, the borrower usually borrows an amount of money that he is confident of  repaying by his next payday. Being late in repayment will result in hefty penalties.

    • How to get a payday loan?

    Applying for a payday loan is really easy and simple. There’s no need for repetitive meetings with representatives from various lending companies before getting the loan. The number of documents you need to submit together with your payday loan application is significantly smaller compared to what you’re required to submit when applying for a bank loan.

    When you fill out an application for a payday loan, you must provide necessery documents as proof of employment. or the loan approval process will be delayed.

    • Advantages and disadvantages of payday loans

      Advantages and disadvantages of payday loans

      Advantages and disadvantages of payday loans

    • Payday loans advantages

    There are many advantages of payday loans.

    • Very easy to obtain

    Just about anyone with a stable job can apply for a payday loan.

    • Really fast

    All you have to do is fill out an application and in a few minutes, your payday loan will be approved and you will have the cash you need. The loan amount can also be  transferred to your bank account.

    • Very convenient

    Payday loan companies are located throughout most cities and are really easy to find. Nowdays, there are also many online payday loan services. This means when you are ready to take out a loan, you can go to one near you or conveniently apply online.

    • Always a last resort option

    When there seems to be no way to get out of a difficult financial situation, payday loans are always there as a last resort option. Since their terms of approval are relatively lenient, payday lenders will provide instant cash  even when no other options are available.

    • Payday loans disadvantages




    There are a few downsides that are worth considering before taking out a payday loan.

    • It’s expensive

    The interest rates of a payday loan are known to be some of the highest. For many borrowers though, the convenience and speed of being able to obtain money with a fast payday loan when it’s needed is enough to make up for the high interest rate that comes with one.

    • Scams

    There are some scam lending companies, so it is important to know you are dealing with a legitimate lending company before taking out the loan.

    • Borrowing can become cyclical

    It’s important that you do careful planning on your finances to so you don’t lag behind on your repayments. It’s easy for you to fall into a debt cycle that only gets worse over time.


  5. What is payday loan consolidation

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    Payday Loan Settlement

    Payday Loan Settlement

    A payday loan consolidation, also referred to as payday loan settlement, is a method used by debtors to get out of payday loan debt. This means you appoint a payday loan consolidation company to negotiate for better terms with your creditors.

    Once the negotiations are done and a favorable interest rate and loan repayment terms are agreed upon, the money that you deposit with the payday loan consolidation company is then used to clear the debt.You may be caught up in debt as you may have borrowed from lenders without looking into the terms clearly or ensuring that you have enough funds to pay off the payday loans.

    This situation may result in a vicious cycle of debt. Some payday lenders may charge higher rates on the payday loans should a borrower fail to pay them in due time. This places the borrower in tough situations which may include bankruptcy. However, if you were to consider loan consolidation, it may help turn your situation around.

    When you choose to consolidate payday loans, you’ll have an easier time repaying your debt as the interest charged on your loans may be considerably lowered after negotiations between your creditors and the loan consolidation company.

    Repaying Your Debt

    Repaying Your Debt

    Moreover, you will no longer have to make several payments to your various creditors at the end of the month as you only have to make one payment to the payday loan consolidation company who will then pay the amounts owed to your creditors on your behalf. Once you choose a payday loan settlement program, new debt repayment terms, favorable to you in most cases, are available to you. Therefore, a debtor should know that they can end the vicious cycle of indebtedness if they choose payday loan consolidation.

    The main purpose of payday loan consolidation is to reduce the amount of debt that a borrower has. It is a good option for anyone who still has the capacity to clear their payday loan debt within an expected duration and does not want to file for bankruptcy.

    Payday loan consolidation is only possible if you agree that this is a good way to settle your debts. Your situation will determine if this is the best option available to you. A debt counselor can assess your situation and advise you on the best action you can take.


  6. Should you consider student loan consolidation?

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    Managing multiple student loan payments with various servicers and multiple interest rates can be exhausting. Perhaps what you actually need is a loan consolidation. The U.S. Department of Education made the important decision of allowing individuals to choose their private consolidation servicer under the Direct Consolidation Loan program.

    Is loan consolidation the right choice for you?

    Consolidating your loans can be a breath of fresh air for any borrower seeking convenience and ease in managing their student loans as it allows you to consolidate (combine) multiple federal education loans into one. The result is a single monthly payment instead of multiple payments.

    Now let’s look at some of the federal student loan consolidation benefits you’ll be able to maintain, things to take into consideration and things you should have in order to get your consolidation loan.

    • Federal student loan consolidation benefits

    • Flexible repayment options

    Flexible repayment options

    Flexible repayment options

    There are multiple repayment plans with various terms you can choose from to repay your consolidation loan. Income-Based Repayment (IBR), Pay As You Earn, and Income-Contingent Repayment (ICR) plans offer flexibility and lower payments based on your income and family size. You may also change plans any time based on eligibility requirements. To estimate your monthly payment under various options, visit the U.S. Department of Education’s Federal Direct Consolidation Loans Online Calculator.

    • Grace period

    If you want to consolidate student loans that are in a grace period, you should indicate on your application the date which grace period ends. Otherwise, your consolidation application will be processed right away and you’ll lose your grace period.

    • Take care of your past due loans

    Take care of your past due loans

    Take care of your past due loans

    When you apply for consolidation, it’s possible you may also be eligible for a temporary forbearance that may bring your qualifying past due loans current.

    • Public Service Loan Forgiveness (PSLF) eligibility

    Student consolidation loans are eligible for loan forgiveness under the PSLF program if you meet the additional program requirements. However, not all loan forgiveness programs can be maintained under a direct consolidation loan.

    Things you should consider

    • Paying a different interest rate

    A direct consolidation loan’s interest rate is based on the weighted average of the interest rates of the loans being consolidated rounded to the nearest one-eighth of 1%.

    • Paying more over the long term

    Paying more over the long term

    Paying more over the long term

    Extending the years of repayment of a student loan, as in a car loan or a home mortgage, will increase the total amount you’ll have to pay over the loan tenure.

    • Grace period

    If any of your loans which you wish to consolidate is in a grace period, you can request to delay the processing of your consolidation loan until your grace period ends. You must enter the month and year your grace is expected to end on your application. Leaving it blank will result in your documents being processed as soon as they’re received and that will cost you your grace period. Once the consolidation loan is completed, you’ll be required to start paying back immediately.

    • Plus loans

    Direct Parent PLUS loans are not eligible for combining into a consolidation loan under the  Income-Based Repayment (IBR) or Pay As You Earn plans. They are eligible, however, for an Income-Contingent Repayment (ICR) plan.

    • Loss of federal student loan benefits

    You may lose some federal student loan benefits such as eligibility for subsidized interest, deferment or loan forgiveness.

    • Requirements for your direct loan consolidation eligibility

    1. You must have at least one federal loan under either the Federal Family Education Loan (FFEL) or Direct Loan programs.

    2. You can’t consolidate your loans while you’re still in school.

    3. You must have loans in grace or repayment status (including deferment, forbearance, or delinquent).

    4. If you want to consolidate a defaulted loan, you must either make satisfactory repayment arrangements on the loan with your current loan servicer before you consolidate, or agree to repay your new direct consolidation loan under the Income-Based Repayment, Pay As You Earn Repayment or Income-Contingent Repayment Plan.

    5. Generally, you cannot consolidate an existing consolidation loan again unless you include an additional direct Loan or FFEL Program loan in the consolidation. However, under certain circumstances, you may re-consolidate an existing FFEL consolidation loan without including any additional loans.

    6. There are no application fees for a direct consolidation loan and you can prepay your loan at any time without penalty.

  7. Student loan consolidation

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    Student loan consolidation

    Student loan consolidation

    Student loan consolidation may not be the silver bullet solution that it used to be and can be quite daunting. However, consolidation can still offer some benefits depending on your situation.

    First of all, student loan consolidation can simplify your finances. When you consolidate your student loans, you roll them into one bigger loan. That means you have just one loan to keep track of and pay off instead of several ones and that helps in reducing late or missed payments. There’s also the possibility of securing a lower or fixed student loan consolidation rate.

    • Key points on student loan consolidation

    1. Here are some major points to keep in mind.One of the best reasons to consolidate student loans is that it lets you stay organized. You now make one payment on one big loan instead of five separate payments on five smaller loans. This will help you prevent missed or late payments which makes consolidating your student loans worth it.

    2. Consolidating federal student loans issued after 2006 with a federal student consolidation loan won’t save you any money because your loans already have fixed rates. You might be able to lower your monthly payments by choosing a longer repayment term, but this will cost you more in interest in the long run.

    3. Consolidating your student loans with a private student loan consolidation company can potentially save you more depending on current interest rates. With private student loan consolidation, you’ll need good credit to qualify for a good interest rate. A variable rate loan will have a lower interest rate in the beginning, but interest rate could rise over time. A fixed rate consolidation loan may be higher to start with but you won’t have to worry about the interest rate increasing and costing you more later on.

    4. In general, steer clear of consolidating federal student loans with a private lending company unless you get an unbeatable rate. Federal student loans have many valuable fringe benefits that private loans simply don’t offer.

    • Types of student loan consolidation

    • Federal student loan consolidation

    Federal consolidation loans are, as the name suggests, federal student loans. You can consolidate almost any federal student loan using the direct consolidation loan program. However, you can’t include any loans from private lending companies and you can’t include any PLUS loans borrowed by your parents on your behalf.

    • Private student loan consolidation

    private student loan consolidation.

    private student loan consolidation.

    Various private lenders also offer private student loan consolidation. Some even allow you to include federal student loans in a private consolidation loan.

    If you don’t have a long or strong credit history, as is the case with many students and recent graduates, you may not qualify for private student loan consolidation. You might be required to get a co-signer with better credit to secure a better interest rate.

    • Pros and cons of student loan consolidation

    • Student loan consolidation PROS

    Pros and cons of student loan consolidation

    Pros and cons of student loan consolidation

    • Depending on how many different loans you’re juggling with, keeping track of just one bill and payment due date instead of several can be a big relief, especially if you’re a recent student who’s not quite used to the monthly grind of paying bills and managing finances.


    • You may get to choose a repayment plan that’s the best fit for your financial situation. For example, federal student consolidation loans offer several payment plans that take your income into account.


    • Lastly, consolidating may leave you with a total monthly payment that’s lower than what you were paying for your loans separately. In some cases, it can also save you money in the long run though that’s an unlikely scenario with federal consolidation.


    • Student loan consolidation CONS

    • The major downside of student loan consolidation is that you may end up paying more money over the life of your loan if you decide on a longer repayment schedule to make your monthly payments more manageable.


    • As you may gain repayment plan options with consolidation loans, you may lose access to other repayment plans benefits such as interest rate discounts or loan forgiveness, forbearance and deferment options. This can be a concern especially if you’re consolidating a federal student loan with a private lending company as federal loans are typically set up with far better borrower protection than private loans.


    • Consolidating your student loans may often mean that you’re locking in your interest rate. This can either work for or against you, depending on the current interest rate and whether your loans already have fixed rates or not. However, given that you can consolidate only once, it is a factor that’s worth careful consideration.
    • Bottom line

    It’s safe to say that the days when you could expect to save a significant amount of money by consolidating your student loans with a lower interest rate are gone. However, there’re still many reasons to consolidate even though it may cost more in the long run. There are advantages such as locking in interest rates on private loans, simplifying payments, extending loan term to lower monthly payments and having more financial breathing room each month.

  8. 10 things to know before getting a loan

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    If you’re about to take out your first loan, the good news is that there are plenty of options to choose from. However, you may be totally confused about what to look  out for. So we’ve made a list of 10 things you need to know before you make your decision.

    1. Limitations of unsecured loans

    Limitations of unsecured loans

    Limitations of unsecured loans

    Unsecured loans are aimed at people who want to borrow a relatively small amount which tend to be between $1,000 and $25,000.

    2. Secured loans are held against your property

    Secured loans or ‘homeowner loans’ get their name because of the fact that the debt is held against your property. That means your home is at risk of repossession if you can’t keep up with your monthly repayments.

    The minimum loan size of a secured loan is normally around $10,000 and you might be able to borrow up to 100,000$. However, the maximum loan size could be lower, depending on how much equity you have in your home.

    3. Advertised rates aren’t always real

    The advertised rates you see on many loan deals are ‘typical rates’. That means the loan company uses a strategy called risk-based pricing. At least 66% of successful applicants must be offered the typical rate, however a third may be offered a rate that is higher than that.

    4. Direct student loan consolidation

    Direct student loan consolidation

    Direct student loan consolidation

    A direct consolidation loan allows you to consolidate multiple federal education loans into one loan. The result is a single monthly payment instead of multiple payments. A direct consolidation loan has a fixed interest rate throughout the loan tneure. The fixed rate is based on the weighted average of the interest rates of the student loans being consolidated and rounded up to one-eighth of 1%. You should always look for the best student loan consolidation.

    5. The longer the term, more interest you’ll pay

    The cost of your monthly repayments depends on the amount you are looking to borrow and the period of time over which you’ll repay the debt.
    You can reduce your monthly repayment by opting for a longer term. However, this will lead to you paying more in interest.
    For example, if you have borrowed 5,000$ over five years at 7.9%, your monthly repayments would be 101.14$ and you’d end up paying back 6,068.57$ in total – more than 1,068$ in interest. On the other hand, if you cut the loan term to three years, your monthly payments would increase to 156.45$ for a total repayment of 5,632.25$. This will save you more than 400$ over the lifetime of the loan. Therefore, you should base the term of your loan on the maximum amount you can afford to pay each month.

    6. A credit card can be a better choice for short-term lending

    credit card can be a better choice for short-term lending

    credit card can be a better choice for short-term lending

    If you need to borrow money over a very short period of time, you may be better off with a 0% purchase card. By purchasing on a 0% card, you will have the length of the introductory offer to pay back the money you owe without having to pay any interest. However, don’t be tempted to keep spending until you have cleared the balance because at the end of the 0% period, interest will be charged at a much higher rate.

    7. Paying back the loan earlier can cost you

    Many secured loan companies charge early redemption penalties. These effectively penalisze those who repay early because the lender is missing out on a sizeable chunk of interest. For amounts borrowed of less than 25,000$, penalties are restricted to two months worth of interest. As for larger loan amounts, the penalties can be much higher.   

    8.Beware of other hidden fees

    Read the lending company’s terms and conditions thoroughly before applying for a loan and check for hidden fees. For instance, several lenders charge administration or arrangement fees to set up a loan, while others will penalize you for making late payments.   

    9. Variable payments

    secured loans have variable rates

    secured loans have variable rates

    The rates for unsecured loans tend to be fixed, but many secured loans have variable rates so your repayments could potentially increase. You have to make sure you know what you’re signing up for so that you don’t get overwhelmed if your lender suddenly hikes the rate. 

    10. Be careful of credit card consolidation loans

    Taking out a loan to pay off credit card debts for more than one card and consolidating the payments is one of the most popular uses of online loans.

    If that’s your purpose of taking out a loan, make sure that you don’t forget the original intention by accumulating new credit card debts once you pay off the old ones and have fresh credit.



  9. Be debt-free: payday loan consolidation

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    What is payday loan consolidation

    What is payday loan consolidation

    We know, seeking help with a staggering number of payday loans can be tough. After all, who wants to show our vulnerable sides to others? However, did you know that Americans can become debt-free within six to 18 months of getting a debt consolidation loan? Before you dismiss a debt consolidation loan as just another loan, read on to find how this total debt makeover can actually help you free yourself from ever-increasing payday debts.

    What is payday loan consolidation

    Payday loan consolidation means that you combine your several payday loans into one new loan with a new interest rate and a new monthly repayment amount. The ultimate aim is to reduce the amount of interest (you know how high interest rates are for payday loans) paid, get rid of the stress of having to manage multiple debts and payments as well as increase your focus on paying off all debts as you now have only one monthly repayment to manage.

    Process of payday loan consolidation

    The goal in consolidation loans is to get the one with the lowest possible interest rate. Here are suggested steps in going about consolidating your payday loans:
    1) List all your loans, interest rates and monthly repayment amounts for each.

    2) Explore your consolidation options, be it unsecured or secured.

    3) Do your research and look around for a reliable and reputable loan consolidating company. It’s best to work with one that has an ‘A’ listing from the Better Business Bureau (BBB).

    4) A consultant from the loan consolidating company will negotiate with your creditors on your behalf for a lower interest rate and monthly repayment amount. Under most circumstances, payday lenders will agree to a lower monthly repayment as that’s better than not being able to recover their loans at all. In some instances, the loan consolidating company may be able to significantly slash your interest rates by 30%-50%.

    Less stressful & confusing process

    Less stressful & confusing process

    Advantages of debt consolidation loans

    Consolidation loans could be your first step in getting rid of all debts and shaping up financially.
    Less stress

    As the loan consolidating company will help negotiate with your debtors on your behalf, you don’t have to be personally involved in the stressful and confusing process. Moreover, there are also no more irritating debt collection calls with a consolidation loan.

    More savings and cash flow

    With a lower interest rate and smaller monthly repayments from a debt consolidation loan, you’re likely to be able to save more and less likely to be driven to take up various payday loans in times of need.

    More focus

    The single monthly repayment means that there are no multiple bills or repayment schedules from various loans to take care of. You now can concentrate on working towards one repayment amount every month.

    You may also consolidate your student loan

    You may also consolidate your student loan

    You may also consolidate your student loan

    According to uscollege.com, the national student debt in 2015 reaches an outrageous $1.2 trillion (a figure that outruns auto and credit card debts) with some 40 million people across the US carrying the burden of their education loans. For student loans, only federal education loans, not private education loans, are eligible for student loan consolidation. However, there are private consolidation companies that offer consolidation of private student loans.

    How to choose a good loan consolidation company

    As with a lot of things online, the standard of debt consolidation companies also varies greatly. So do your due homework before going with one. Here are some tips which may help you identify the good from the bad.
    Better Business Bureau (BBB) rating
    The BBB is a non-profit organization in America and Canada which collects and offers complimentary business reviews. To find out more about about consolidation company which looks credible to you, simply do a search on the BBB website. If the search yields no rating or reveals a bad rating, move on.

    Check that it’s registered

    A company serious about portraying a credible image and instilling confidence in its customers is likely to be registered with either The Association of Independent Consumer Credit Counseling Agencies or The National Foundation of Credit Counseling. If the debt consolidation company you’re looking to work with is registered with either one of these agencies, look out for feedback.

    Debt settlement is a dangerous affair

    Debt settlement is a dangerous affair

    They try to sell you something else

    Sometimes, companies with ulterior motives only start showing their true colors when you interact with them personally. They may have advertised payday loan consolidation services, but start talking about or try to persuade you to opt for something else as soon as you meet them in person. They may talk about ways to reduce your overall debt. Be aware that this isn’t debt consolidation. Debt consolidation is simply moving the current loan to a new one with a different set of terms – it never involves negotiating for a lower principal debt amount which is debt settlement. Debt settlement is a dangerous affair. If you don’t mind bringing irrevocable damage to your credit score, that’s the way to go.

    They’re aggressive and makes you feel uncomfortable

    Professional debt consolidators take time to listen to you and access your financial needs. They should not be pushy simply because they want you as a new customer. Also note that once you enter into a debt consolidation agreement, changing your mind and wanting out is not possible. That makes taking out debt consolidation loans very important financial decisions. So all the more you should avail yourself to more credible options and not settle simply because people in the debt consolidation company are pushy.

    Payday loan consolidation isn’t the ultimate solution

    What’s the root cause of having several loans so much so that you cannot keep up with their repayments and require debt consolidation? It has a lot to do with your spending and saving patterns. Debt consolidation will not solve your financial issues in the long run. Taking positive actions to change undesirable habits that draw you into debt is a more sustainable solution.

  10. Get back on your feet with loan consolidation

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    Staggering Amount of Payday Loan Debt

    Staggering Amount of Payday Loan Debt

    At some point in your life, you may have taken a payday consolidation loan.. You might be caught up in a bad situation where you are overwhelmed by the demands of life and the staggering amount of payday loan debt that seems to increase by the day. You already know that you have a problem at hand.The creditor is not giving you any breathing space. They hound you with constant calls and emails with the same message – you need to pay your debt! So, is it all hopeless? Can you turn the situation around and get back on your feet? With loan consolidation, you can!

    The first step is realizing that you have a problem and are willing to seek a suitable solution. After your own assessment or consultation with a debt counselor, you may choose to consolidate your payday loan debt. You will have to approach a trusted debt consolidation company which aims to achieve the same goal as you – minimizing your overall debt. You will then select the debt consolidation program that suits you best. With this, you will have an idea of the time frame within which you are expected to clear the payday loan debt as well as the monthly fee you have to send to the payday consolidation company.

    When you are trying to clear the debt alone, you may find it to be an uphill task. To pay off your debt more easily, you may benefit from the services of a debt consolidation company as they will have the interest rates lowered considerably. The loan consolidation company also negotiates for better repayment terms on your behalf.

    Several Payday Loans

    Several Payday Loans

    If you have several payday loans from different creditors, the worst decision would be to seek yet another loan to clear such debts. This will give rise to the vicious cycle of indebtedness. If you consolidate your payday loans, you may eventually be able to turn your situation around and also learn how to manage your finances better. This is because you will have better repayment terms and lower interest rates for your loans. Moreover, you only need to send a lump sum to the debt consolidation company. This is the amount that you and the debt consolidation company have agreed upon. With this, you will be able to manage your monthly budget better and be back on track when it comes to improving your financial situation.

    Do not get overwhelmed by the bills and the payday loan that seems to be almost impossible to repay. You do not necessarily have to file for bankruptcy. Payday loan consolidation can help you . If it took a while for you to run up such huge debts,do appreciate that it will also take a while to get out of debt. The first step starts with you making an effort to seek out a best-fit consolidation program. With that,you will soon be relieved from the financial pressure you are currently experiencing.

Actual Client Testimonials

"Your professional assistance in negotiating settlements have been such a God send for my husband and myself when he was unexpectedly hospitalized due to a life threatening illness… With my husband’s illness and long recovery, your wonderful assistance allowed me to fulfill my duties to my family without additional worries… I would recommend your company to anyone that truly desires to settle their debt. May God bless each of you as well as your company's continued success."

Susan D.Dallas, TX

"I just wanted to say "THANK YOU" I appreciate the kindness that you have shown me through this process of debt settlement. There were days; whereas, fear gripped my heart. But, you were right there to guide me through. If there was ever a time that I had to leave a message; as of today, I never waited over 15 minutes for you to contact me. I can't express what it meant to me for you to be so prompt. Once again, "Thank You," if possible, would you please forward this email to your supervisor. "

Andrew T.Los Angeles, CA

"Thank you so much, You have been very helpful Nicole. I will be sure to tell someone else if I speak to anyone else in your company how helpful you have been. This is a hard thing to deal with and very stressful with being so broke and then having all these people after me. To me, it felt as if it was just as important to you as it was to me that the situation be handled. Most companies care only about themselves and the money to be made but you truly proved to me that your comapny cares about their customers."

Annie C.Houston, TX