Payday Loan Consolidation- Payday Loan Help & Debt Relief

Can you consolidate payday loans

The Best Way For Relief

Yes, consolidating your personal loans is the best and most suitable way of repaying your payday loans. If you have accumulated debts, consolidating can be a good option. The only thing you need to do is to understand what consolidation is all about. There are many experts you can seek advice from. The advisors will help you in the evaluation and validation of your loans.

We Can Help With Payday Loan Consolidation

Consolidation will help you pay off your personal loans and you will only be left with one debt to pay. Payday loans are associated with high interest. A consolidating company will first find ways to reduce the interest rate that you are being charged. This will also help you avoid additional fees and charges. With payday debt consolidation, you have sufficient time for you to pay back your loan. You will be paying back at a lower interest rate and have more time and reduced monthly repayment installments.

Can you go to jail for not paying back a payday loan?

No. Lenders will list you as a defaulter and may submit your name to the regulatory agency in your state. The regulatory agency may then send your name to other lenders and therefore you will not be able to access loans. You will be listed and other lenders including banks will view you as a defaulter.

Can payday loans be included in Chapter 7?

Yes, you can include the loans in Chapter 7. This chapter gives you the opportunity to write off your unsecured loans including payday loans. With chapter 7, you will be required to list all your assets and debts. All these will be faced off in the bankruptcy discharge. However, choosing to file chapter 7 should not be the immediate option.

This is because even though you have filed bankruptcy, you still have debts on your back. You will still be required to pay your personal loans at some point in the future.

How Many Payday Loans Can You Get?

How Many Loans?

The numbers of payday loans you can get can be more than one. This is because the lenders are independent and will deal with you as an independent customer. They do not ask for your credit history and will offer you the loan based on their current evaluation of your profile with them.

However, it is recommended that you stick to one payday loan at a time. It is difficult to keep track of several loans and you are most likely to lose track. You will also not be able to pay them all on time and therefore you will have to pay extra fees for late repayment

Where are payday loans legal?

Are Loans Legal in All States?

Payday loans are not legal in all states. Therefore, it is important for you to research before you apply for a payday loan in your state. Some states that have legalized payday loans include Rhode Island, Tennessee, California, New Mexico, Utah, Wisconsin, Illinois, Washington, Virginia, Nevada, Kentucky, Iowa, Delaware, Alaska, Mississippi, Wyoming, Texas, Nebraska, Louisiana, Florida, Kansas, Indiana, Missouri, Michigan, South Carolina, North Dakota, Minnesota, Idaho, Alabama and Hawaii.

Do your research before applying for a payday loan and you will always find yourself on the right side of the law. You will also find the lender who suits your financial status

Can you be taken to court for not paying a payday loan?

Yes, but the lender will first send you several reminders so that you are able to communicate back and pay them their due loan. Most of the time, your loan will incur additional interest and an extension of the repayment period. The lender will require you to confirm that you will pay the loan together with additional late payment charges.

Can they garnish your wages for a payday loan?

No, this is because lenders will only get the required amount as you directed your bank to give. Your wage does not go directly to the lender and therefore the lender has no control over your wage.

Which states have banned payday loans?

States that do not like payday loans

There are several states that have maintained their stand on payday loans as being fraudulent. The states include New Jersey, North Carolina, Arizona, West Virginia, Maine, Arkansas, Vermont, New Hampshire, Georgia, Pennsylvania, New York, Maryland, Connecticut and Massachusetts.
It is important to know the current laws governing payday loans in your respective state. This will ensure that you only access your loan from an approved agency and keep you away from becoming a victim of fraud.

What is payday loan help and how we provide it?

We are a payday loan consolidation company that assists individuals who have multiple outstanding payday loans. We help people combine their personal loans into one easy-to-manage monthly payment and escape the debt trap. Cash advance loans can quickly get out of hand and cause severe financial distress. If you find yourself in a tough situation, we can help you and provide immediate relief if you qualify for our debt consolidation program.

What is payday help
What is payday loan help


A consolidation loan is a financial instrument that is used to provide repayment of the debts you already have. This is achieved by combining them into a single and easily manageable monthly payment with a new interest rate. Thus, you can decrease the number of different bills you have to repay and the interest rate.

Usually, new consolidated loans are unsecured. This means that they are based only on the borrower’s promise to pay. That does not, in any case, mean there isn’t the possibility of taking out a secured loan which is guaranteed with a valuable piece of the borrower’s property.

A valuable asset would be a house, a car or even a different bank account or insurance policy on the borrower’s name. Of course, it is most common that unsecured personal loans are taken. Normally, secured loans would come with a lower interest rate.

To decide whether debt consolidation is the right thing for you to do, you should keep in mind both its advantages and disadvantages. To simplify the debt repayment schedule, lower the interest you’re paying and regain some of your credit reputations – these are the common advantages of debt consolidation.

However, make sure that you’re not canceling all your credit cards at once after repaying your debts. This is a common mistake and usually leads to damages on your credit score.

How can taking out a payday loan lead to debt consolidation?

A payday loan generally refers to financial aid given to a debtor by the creditor and is expected to be repaid with funds from the debtor’s next paycheck. It is a short-term unsecured loan. This means that it has a shorter maturity period hence should be repaid quickly. No property is attached to it as a guarantee in case the debtor fails to repay. Instead, the payment is based more on trust.

How can we help?
How can taking out a payday loan lead to debt consolidation?

However, in desperate times you may find yourself applying for another loan if the previous one did not actually meet your set obligations. Many people also choose to renew their loans by just paying the interest. This starts a vicious cycle that can be extremely difficult to get out of. In the event that you fail to make payments promptly, the collection calls and threats of lawsuits from your creditors start. Instead of renewing the payday loan it is advisable to turn to a debt consolidation company.

How to know whether you qualify as a loan borrower?

There are only three equally important conditions that determine whether you qualify for our payday loan consolidation program or not. First of all, you should have a source of income that would guarantee your ability to repay. Secondly, you have to be obliged to at least two preceding payday loans. Lastly, your combined debt should be amounting to at least $1,000.

What Do I Need To Qualify For Payday Loan Relief ?

1. Identification A valid national identity card or passport
2. Bank account An active checking account
3. Income Provide a proof of recurrent income or employment
What are the benefits of payday loan consolidation?
What are the benefits of loan consolidation?

What are the benefits ?

  • All loans are consolidated into one
  • It is easy to track
  • You can avoid late payments
  • Easy to manage
  • A reduced monthly payment
  • Avoid calls from several lenders
  • No upfront fees
  • Psychological benefits
  • Secure and safe to transact

How to get payday loans help immediately?

– Fill out our free evaluation form or call us directly.

– Tell us about your payday loan obligations and our trained counselors will give you a free consultation.

– We’ll give you a free quotation detailing how much and for how long you would need to consolidate to get rid of your payday loan debt.

– Sign up securely from the comfort and convenience of your own home.

– We’ll contact your lenders and negotiate for a settlement of your debt.

– You direct all your creditors and lenders to us and don’t have to deal with them yourself anymore.

– Make one monthly payment into a secure escrow account.

– As the funds build up, we’ll make payment to your creditors on the agreed settlement amount.

– Complete the program and you’ll be debt-free.

Are there any other options?

Bankruptcy:

There are other legal options that are conducted with the obligatory participation of the court. These are consumer bankruptcy and liquidation. Bankruptcy is about re-organizing your payment plans and liquidation is about deleting the unsecured debts and repaying the secured ones. Liquidation usually requires selling a property. Both procedures require the obligatory participation of your creditors.

These procedures have a serious negative impact on your credit history depending on its situation. In general, most unsecured debts can be included in your bankruptcy filing and be discharged. However, bankruptcy should be viewed as a last resort as that can have a lasting negative impact on your credit history. You also need to meet income and asset requirements to qualify for a Chapter 7 Bankruptcy.

Are there any other options?
Are there any other options?

Home Equity Loan:

Sometimes, it may be possible to use your house to pay off debts. The biggest disadvantage to this is that you are using your home as collateral. This means you risk losing your house if you are unable to manage the loan payments.

Credit counseling organizations:

Credit counseling organizations are funded by financial institutions. Part of their services is providing free financial lessons to customers. Some of them could help you with repayment management, including the option of arranging reduced rates and penalty fees. On the other hand, this may have a negative impact on your credit score and history because of the inevitable cancellation of credit cards.

Debt settlement program:

Another alternative is a debt settlement program. Such programs are administered by intermediary institutions. Their role in the loan process is to negotiate for a significant discount of your debt. All payments by the debtor are made to the debt settlement company. The company withholds payments to the creditors until the debtor’s accounts are in default due to this non-payment.

Then the debt settlement company has leverage to force the debtor to accept a reduced lump sum payment as a settlement. This process might also have a negative impact on your credit score in the near future.

Credit card balance transfers:

Lastly, there are credit card balance transfers. They concern credit card debt. The main purpose of this is to transfer your financial assets from a credit card program with higher rates to a cheaper program. Of course, the possibility of such transactions depends on the rules and practices of the financial institution that provides your credit card program.

Try to consolidate with professionals

George Johnson

About George Johnson

George is an accountant that specializes in debt solutions and financial consultancy. He is an expert when it comes to unsecured loans and their terms and conditions especially when it comes to APR. He plans on sharing more about his knowledge to help those who are planning to take on short-term loans.

GET DEBT FREE

By clicking on Get Started!, I agree to the Terms of Use, Privacy Policy and ESIGN Consent