Do it yourself payday loan consolidation is becoming a popular way for consumers to get out from under large payday loan balances. The premise of the “do-it-yourself” payday loan consolidation company is simple. Find out how much money you owe on all your monthly bills and other unsecured loans with the Unsecured Loan Calculator. Call payday loan consolidation company that will help you consolidate payday loans into one monthly payment. These companies will work with your creditors to have your interest rates lowered, eliminate any late fees or penalties, and most importantly eliminate up to $7500 in accumulated interest.
Payday Lender Consolidation Program
When you are making your payment, be sure to be aware of how much interest you are going to be paying. Typically loan debt consolidation companies only work with lenders who agree to annual fees and financing charges. This is because you are making your payment to them in order to get lower payments overall. If the lender agrees to these terms they will be charging you a higher interest rate, which means you will be paying a lot more each month on your payday loan consolidation.
When searching for a loan consolidation program it is advisable to find out how long these companies have been in business. Payday loan consolidation companies may list their businesses on the Internet, but very few actually have been in business for very long and have built up a solid customer base. Look for payday lenders who have been in business for at least two years, because this means they are serious about helping you get your bills paid off quickly and efficiently.