Help For Payday Loan Debt

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If youre reading this article Im pretty sure I know your story:

Your life was sailing along with no real big ups or downs and then out of the blue a financial problem popped up.

From everyone I have talked to it seems this financial challenge is usually a medical one, a mechanical one (your car breaks down) or and I know this sounds redundant a financial one.

And by financial I mean your income is not enough to cover your monthly bills. If it’s like many people it’s because you got less hours at work that month and then you get behind for things like; electric bill, gas bill, rent, phone and cable.

Then you see what you think is a light at the end of the tunnel a solution and its called a payday loan. What looks like a solution is a HUGE nightmare waiting to happen.

I dont want to sound like Mr. Gloom and doom, but the reality is over 50% of people who get a payday loan cannot pay it back within the time frame given. No matter how much money you borrow the lenders want it back in 2 weeks plus fees and interest.

And you know why the loans are so short, because they know over half of the people that borrow cannot pay the loan back in two weeks and thats a good thing for the lender.

Now they can look like they are there to help by offering you an extension better known as a roll over. All you have to do is pay this small fee and the interest and they will extend your loan due date by another two weeks.

Of course they want to do this they make more money off of you plus you still have to pay back the original loan. And then when the new due date comes about a lot of people will have to roll the loan over again.

And when they cant roll the loan over anymore many people will go to another payday loan company to get a new loan to pay off the first loan, and this cycle repeats itself over and over again, and now you’re caught in a payday loan cycle, just where the lenders want you.

Its just horrible how these lenders are praying on people with their backs to the wall.

Ok, small rant over the title of the article is: Help For Payday Loans.

And there is help for you, there are companies that are standing up and fighting the battle against these predatory lenders.

Here’s the help you’re looking for:

The most effective way to get out of your payday loan debt once and for all is to contact a company that offers what is called a payday loan debt consolidation program .

In a nutshell what the company does is contacts all your lenders, re-negotiates a new repayment plan and this payment plan will be way lower than anything youre paying now.

They will stop all the fees and interest, plus you’ll never have to see or talk to your lenders ever again. You see you will make your payment to the consolidation company and then they pay your lenders.

And to top off all the good news you do not have to qualify for the program or have collateral, and the reason is this is not a new loan.

So go find a quality company with a consolidation loan program today and say goodbye to your payday lenders for good.

I hope you found this information helpful – and if you know anyone caught in the payday loan trap please share this article with them so they can end their payday loan nightmare.