Payday Loan Consolidation Help
Real PDL Help is a highly rated service that offers payday loan consolidation and debt management. We can help you if you are having trouble paying your payday loan debts.
Our debt settlement team can help you get out of the payday loan cycle. We will stop automatic debits from bank accounts and negotiate repayment terms with lenders to reduce your total debt and fees.
Payday loans can be stressful. Our team will guide you through every step of the process. We aim to help you understand the payday loan industry and how our debt management plans work and support you when you are most in need.
We provide clear, simple-to-follow instructions and the support and tools you need to eliminate your payday loan debt once and for all. This is part of our commitment. You can get your payday loans consolidated into one monthly payment with our help.
PAYDAY LOANS 101: WHAT ARE THEY, WHY & HOW TO GET THEM OUT OF YOUR MIND? WHAT CAN YOU DO TO HELP THEM?
What is a payday loan?
A payday loan is a short-term loan that can be provided by an online or offline lender for up to $1,000. You agree to repay the loan and fees within a few weeks. Lenders will often request a post-dated cheque detailing the amount of the loan and the fee. They may also ask for your bank information. If you fail to pay the due date, the lender can debit the account automatically. It is easy to get into but difficult to get out of. A payday loan can be obtained with a checking account and a payslip that shows you are employed.
Payday loans are bad for you.
Payday loans can be very expensive, as anyone who has taken out a payday loan will tell you. You can rollover the loan or “re-up” if you cannot repay the loan by the due date.
In some states, you can also pay an additional fee. These fees are not jokes. These fees can be as high as 700% APR (annual percentage rate), while typical bank loans or unsecured credit cards are at a maximum of 35% APR.
Payday loans can cost 10-20x more than normal debt. People who need cash urgently to make ends work are prepared to pay high-interest rates because they don’t have any other choice.
If you are already in financial trouble, you will understand how quickly these loans can become out of control. The fees are prohibitive, and the financial difficulties that led to the need to get a quick loan are still there.
What to do if you get trapped in the payday loan trap
Get help. Real PDL Help has helped thousands of Americans struggling with debt due to the payday loan cycle. We have over a decade of experience in the payday loan industry and can help you understand the laws and protect your rights.
Payday lending is not allowed in all states. In some cases, lenders must be licensed. Payday loans made by businesses that are not licensed in a state may be illegal or invalid. The lender might not be able to demand repayment if that happens. We can help you determine if your lender has been licensed.
- If you are like many of our customers, you have multiple payday loans that have skyrocketing fees. No matter your financial situation, payday loan assistance is available quickly and easily. We can enroll you in a debt management plan in just a few hours.
- Automatic debits eliminated
- Collections Activity Stopped
- Simple Repayment with a Single, Affordable Monthly Payment
- Eliminating Interest and Fees
- The repayment period has been extended to make it easier to save money and pay off the loan.
All of this without any effect on credit!
PAYDAY LOAN CONSOLIDATION VS. SETTLEMENT
What is the difference between settlement and consolidation? A “settlement” can be used to reduce debt. It is often a one-time payment. A creditor might agree to a settlement if a debtor is in financial hardship or is close to bankruptcy.
Settlement is the final payment of the consolidation plan. The settlement is usually included in payday loan consolidation plans. Even with the settlement, the entire balance due when you enroll in one of our debt management programs is usually repaid in full. This is a win-win situation for both of you.
Payday lenders understand that consolidating a debtor will allow them to recoup the full loan balance rather than push the debtor deeper into debt which could jeopardize the loan.
A debtor will find that even though the entire loan balance is paid off, the amount (or cost of the loan) paid is significantly less than it would have been and has no impact on credit.
Consolidating payday loans can result in huge savings. Check this page to see what we mean when we say huge. You can get out of debt faster if fees and interest are stopped accumulating, and your payday loans are not allowed to roll over.
To pay down debt, your income can go further and be used more efficiently. To calculate savings and expenses for all possible scenarios, you can use our debt management tools.