Bankruptcy should be your last consideration when payday loan consolidation is involved. There are many other ways for you to live a debt-free life. We understand how overwhelming payday loan debts can be. You can have your financial stability life back with payday loan consolidation.
Best Payday Loan Consolidation Services
When in need of quick cash, most individuals go for payday loans. The qualifications for these loans are easy and hence most people get addicted to borrowing these loans. Unfortunately, the interest rates are so high.
After repaying the loan, you may be left with an amount that may not sustain you for the whole month and hence you may be forced to borrow again. This may turn into a cycle. Luckily, Encompass Recovery Group offers the best debt consolidation services. We help you start living debt-free by getting out of the payday loan trap.
Our Payday Loan Consolidation Services
The goal of our payday loan consolidation package is to offer you financial freedom. The package helps customers in several ways, including:
- Lowering the payments made monthly
- Rate of interest reduction
- Combining multiple payday loans into a single payment
- Discontinuing embarrassing calls from debt collectors and creditors
We know how distressing being trapped in debts can be. We have assisted many customers to do away with payday loan debts. If you have any questions, do not hesitate to contact us today. Our team of debt consolidation will answer all the inquiries such as, “How can I Consolidate My Payday Loans?”
Why Do People Take Payday Loans?
There are so many people struggling with the payment of bills with the current economic situation. The sad reality is that a lot of people live paycheck to paycheck and barely have additional money to save. The people who apply for loans have to pick between making loan repayments and taking care of their regular budget. This includes those who work for stretched hours who have nothing to show for it at the end of the day.
Why are Payday Loans Attractive?
These loans are the easiest kinds of loans to meet the requirements for. Also, you can have the money within a day. However, moneylenders know just what they are doing when lending out these loans.
For the borrower, qualifying and applying for a loan within twenty-four hours is convenient. This is particularly convenient when you have to press financial requirements to take care of. However, this is usually a trap in most cases. The reality is that payday loans have the maximum interest fees and rates. The lender is the one who benefits more if you don’t pay up in good time and it could end up draining you financially when paying back.
Risk Associated With Payday Loans
A lot of payday loan creditors take advantage of their client’s situations. They do this by imposing strict terms and charging high interest on the credits.
As a result, most people end up in debt, even though they never intended for it to happen. The moneylenders lure customers with loans that are easy to meet the requirements for. Then , when the time for payment is due, these clients are left with so many payday loan debts.
Why Types of Debts Can I Consolidate?
The type of debt that most debt consolidation companies handle are unsecured debts. Unless it involves a car loan, secured debts are not included in most cases. It is hard for customers to get into debt consolidation programs for the reason that they have secured debts e.g. mortgages.
Encompass Recovery Group has debt relief plans that can assist in such a state. With our services. the principal amount you need to pay, and your interest rate will lessen. Some lenders also decide to do away with all the fees. What we do is negotiate with lenders and make sure that you settle what you can manage to pay for. With this, you will quickly get out of debt.
We offer consolidation loan services for several types of debts, including credit cards, unsecured Personal loans, collection accounts, payday loans, repossessions, cash advances, and installment loans. If you are trapped in the vicious circle of debt due to payday loans, we can help get you out of the trap. Call us today on:(877) 769-0109 to get the best payday loan consolidation service.