Frequently Asked Questions
You Have Questions, We Have Your Answers
How does payday loan debt consolidation work?
If you cannot repay the entire amount of your monthly payday loan then interest rates and late fees get applied which makes the new repayment amount a lot higher than the original. Debt management companies such as Payday Loan Debt Helpers will get you into a program and negotiate with the lending company to get you a better interest rate, consolidate your total loan fee, and get you a more reasonable monthly repayment amount.
What happens after I've completed the payday loan debt consolidation program?
After you've obtained a "paid in full" status with the loans and completed your consolidation program debt management companies also help to get your name removed from any negative reporting agencies that the payday loan companies may report you to.
Will multiple loans from various lenders be taken care of?
Payday loan consolidation comapnies will get all your current debts combined into one so you do not have to worry about making multiple payments at different times of the month. This makes tracking everything easier.
Will payday loan consolidation hurt my credit score?
It will not hurt your FICO score some. Payday loan consolidation companies work to help have your name removed from any reporting agency's derogatory list(s). In the long run it will probably help you. In some cases it has even stopped people from being forced to file for bankruptcy.
Why should I choose a payday loan debt consolidation program as my solution?
Payday loan debt relief specialists know more about the payday loan industry and are here to help you find the best repayment program. They help you get the relief you need at such busy and difficult financial times when you can't seem to find the time to do so yourself.
How much does the payday loan consolidation program cost?
Fees are based on the total amount of payday loan debt owed, length of program and your particular individual needs. Payday loan debt companies fully disclose all costs when you speak to a Debt Relief Specialist before going forward with the companies program. They help you condense your repayment to your lenders with one easy monthly payment, this is most likely a fraction of the payments you now make generally every pay day. No fees are assessed up front.
How long does the payday loan consolidation program last?
The typical program lasts about 6-12 months but really depends on your individual needs. Companies take into consideration the amount of debt you have, how much you can afford to pay each month, and how successful payday loan debt relief specialists are at working out a reasonable payment with payday lenders.
Will I be able to cancel if I change my mind?
Your participation is 100% voluntary and you can always cancel your program at any time. You will still be responsible for your payday loans and their fees if you cancel the program. The payday loan debt company will no longer have the legal right to help you in negotiations or with harassing phone calls you receive.
How do I apply for payday loan debt consolidation help?
Fill out the form to get a free quote and a payday loan debt specialist will contact you promptly. If you would prefer to speak to someone immediately you can call by phone at: 888-519-6090 Payday Loan Debt Helpers would be pleased to assist you in becoming debt free as soon as possible!