Payday Loan Debt – Are you rolling over week after week on your payday loans? It is common that a borrower will continue to default on their loans and this leads to excessive interest rates. These roll overs are the reason why many find themselves in extreme amount of payday loan debt very quickly. We know you’re here because you need help getting yourself out of your payday loan nightmare. We have a debt consolidation plan that will help you with your debt to your payday lenders.
Payday loans incur enormous rates of interest. Charges mount up when the borrower is unable to repay
the loan at the end of the given time period, or can repay but immediately needs to borrow the same
amount again. This term is called rollover.
We specialize in payday loan debt here at Exit Payday Loans. We can help you feel the financial confidence you have been dreaming of. All it takes is just one call to speak to our representatives for a thorough overlook of your current debt and we assure you that they will answer to all of your payday loan debt questions.
Payday Loan Debt Consolidation is a solution to many American’s payday loan problems. Most people
may not understand how someone could possibly be so desperate to use this route, knowing that the
risk is much greater than the reward. Some people just don’t have any other options.
There were terms that were new to Annie. Terms like Payday Loan Debt Consolidation, Payday Loan
Settlement, and Payday Loan Debt Consolidation Loan. What were the differences and what was the
best option for Annie? We will break it down for you.
PAYDAY LOAN DEBT SETTLEMENT VS. PAYDAY LOAN DEBT CONSOLIDATION PROGRAMS
Payday Loan Debt Settlement reduces your total debt cost. It takes approximately two to four years to
pay off this debt. The payment for the settlement, as the Payday Loan Debt Consolidation Advisor
negotiates on your behalf, the payment is due in one lump sum. This is sometimes a difficult option for
the borrower to come up with this amount of money. It requires the borrower to save the money
needed for the settlement before negotiations start. Your credit score drops in the beginning as settling
debts do negatively impact your credit score.
Payday Loan Debt Consolidation works in a slightly different way. Your advisor will also negotiate on
your behalf with the lender for you, as the consumer, to receive a lower interest rate. It may take a little
longer to pay off, with the approximation of 2-5 years, but you are able to pay back your debt in
monthly payments. Unlike settlement, this doesn’t hurt your credit, but in turn gradually improves your
credit as time goes on and payments are made on time, every time. This works better for most
consumers as this type of repayment program better fits their budget. All loans are consolidated into
one payment, which also makes it easier for the consumer to keep track of all debts owed.
Payday Loan Debt Consolidation Loans transfers your debt to another lender and takes anywhere
between 1-25 years to repay with a monthly payment. Just like Payday Loan Debt Consolidation this
form of repayment program gradually improves your credit over time. So, what’s the difference?
Payday consolidation loans need collateral to borrow again. Often borrowers have a hard time with this
part of the deal. With this method puts assets at stake if this loan cannot be repaid. Their repayment
history has already gotten them in this mess. Are they willing to risk even more?
Our representatives are standing by to answer any questions you may have about your payday loan debt solutions. We all know how quickly your loans can get out of control but there is help. We will work closely with you to negotiate your loans so that you can start aiming for a better financial future.