Important Facts

Payday Loan Consolidation Companies

Payday lenders have been around for quite some time but payday loan consolidation companies haven’t been around for that long. Now there are a few legitimate payday loan consolidation companies that deal with payday loans. But not all consolidation companies operate the same way.

The process of payday loan consolidation works in essence by taking your total debt owed and coming up with an affordable monthly or bi weekly repayment schedule which will pay off your payday loan debt in the specific time frame agreed upon between the lender and the consolidation firm.

Our firm, Payday Loan Debt Relief offers the strongest and most legitimate model for paying off your debt. We, unlike many other payday loan consolidation companies, do not hold your money for two or three months then approach the lenders hoping for a settlement.

Since our firm takes over your debts, we aggressively negotiate with these payday lenders immediately upon your enrollment in our program so that when you make your first lender payment, lenders are being paid.

Based on our research most companies treat this form of consolidation similar to a debt settlement model.

This means when you make your monthly or bi weekly payments some of the consolidation companies may hold onto these payments for a period of 2 or 3 months then try to approach the payday lender to negotiate a pay off.

This type of model is bad for two reasons:

1.     These payday lenders are very aggressive in their collection efforts and if they don’t hear from you and get paid in a reasonable time frame they will call your cell, home, your work and your references constantly.

2.     Also this puts the payday lender in a very defensive posture and will be less willing to work with your consolidation company to set up a re-payment structure.

Some companies will take your payments for the first few months and all that money you pay goes towards their fees first.

The trouble with that is if you owe storefront lenders and they loaned you a certain sum of money why would they be willing to accept less from you? That doesn’t make any sense.

These lenders can also sue you, depending on your state, if they are not dealt with in the proper time frame and a manner that reputable consolidation companies will do. That is the main reason you need to hire a firm that has the expertise to handle these lenders from the beginning of your enrollment.

When you have numerous payday lenders it is important to keep them from constantly calling and harassing you when you are part of a consolidation program. People are dealing with enough stress as it is and if it can be kept to a low level or eliminated completely that is the best.

So if your lenders aren’t receiving any money for a period of 2-3 months they will never work out any arrangements with a payday loan consolidation company that holds money.

Solid and professional companies, like Payday Loan Debt Relief are pro active and highly aggressive in their approach with the lenders.

This means once the clients start to make their payments the company will have already negotiated and received a re-payment schedule with the payday lenders. This will obviously make the lenders more likely work with the  consolidation companies such as they are with our firm.

It is also imperative that you perform thorough research when talking to these companies this way you know you are getting the best value for your money. Also note, if you fall behind in the payments to the  company your debt with the payday lender will revert to its original status.

Our firm is proud to be one of the very few legitimate payday loan consolidation companies that offers a lender approved re payment plan that works to your advantage. See why we have been voted the most professional and successful payday consolidation firm out there today.

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Comments (23)

  • Diondra

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    Hi
    I am interested in learning more.

    Reply

    • David Schmidt

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      Hi please call us and we can give you more details. The point is to stop all interest and fees so we can pay your debts much quicker and all lenders work with us.

      Reply

  • Brenda medellin

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    Need to get my pay day loans under control too many

    Reply

    • David Schmidt

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      The more you have the easier it is for us to resolve. Call us for a quote now so you can see how much you will save on your paycheck.

      Reply

  • Chequita A Battle

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    I want to learn more. Please send me more information

    Reply

    • David Schmidt

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      You got it! We sent you a complete quote per your request.

      Reply

      • Rodney Blankenship

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        I need help with payday loans I have too many out of control

        Reply

        • David Schmidt

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          We can help you with all your payday loans. Please find out how much you owe to these lenders as of the date of your call. That way we can send you the quote and outline the process.

          Reply

  • Jennifer Seith

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    I would like more information. Can you send it to me via email?

    Reply

    • David Schmidt

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      We sure can. Also if you know the balance you owe the lenders please send a quote request or call us. I will have some information sent to you though. Thaks Jennifer.

      Reply

  • Gloria Marshall

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    Can you email me with more information and a response on how to eliminate this debt and all other debt if possible

    Reply

    • David Schmidt

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      Its much easier to send a quote when you know how much your pay offs are. Its a free quote and gives you a breakdown of what we do. Please send a quote request with the total balance. We will help you Gloria.

      Reply

  • Walter small

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    Please contact me I need assistance with a number of loans

    Reply

  • Walter small

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    Seeking help with loans

    Reply

    • David Schmidt

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      We are here to help Walter. Please call us or send a quote request. Our form is secured.

      Reply

  • Ann mears

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    I have a few payday loans am interested in consolidating them so they won’t be taking alot of my check and I have some freedom and free up more money I have had some major medical issues and have to have 2 surgeries

    Reply

    • David Schmidt

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      If you enroll with us they wont take any more of your check. Call us, Ann and we can give you a quote so you can see how much you will save. 877-734-6700

      Reply

  • Linda

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    Hello ,

    I would like to hear more about it..

    Reply

    • David Schmidt

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      Hi Linda, our site goes over it in detail but you can call us for a free quote and details which are tailored to your specific situation and how much you owe these lenders. Call us today.

      Reply

  • Jalon Mayes

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    Please help me consolidate my payday loans period.

    Reply

    • David Schmidt

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      Call us and let us know who you owe and how much the balance is and we can help you.

      Reply

  • Marsha Dennis

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    I have several pay day loans, I’m drowning,I need a quote for your services.

    Reply

    • David Schmidt

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      Absolutely, Marsha please find out your pay offs and call us at 800-734-6700 and we can give you a free quote.

      Reply

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