Through a payday loan relief plan, you can consolidate your credit cards, loan debt, department store card debt, medical bills, and personal loans. Without the stress of disturbing calls from loan lenders, you can attain control of your checking account.
The payday consolidation relief program is intended to merge all your payday loans into one convenient monthly payment, and most of the time, the fees are lowered down. Despite your financial status, you are entitled to the elimination or reduction of the interest rates through a payday consolidation loan company.
Payday Debt consolidation is ideal in the following circumstances:
- If you have placed collateral in all of your existing debts
- If the total amount of your debt does not exceed 40% of your monthly gross income
- If there are high chances of saving on financial charges and interests
- If you are burdened with several monthly bills
- If your credit score is good enough to guarantee you a debt consolidation loan with low interests
- If you have done intense research on the various methods for debt consolidation
- If you are willing and able to pay off the loan before five years
- If you are willing to live a life free of debts
When Should You Not Consider Taking a Loan Consolidation
- When your credit rating is much lower to enable you to secure a loan with a low interest rate
- When you are opting to consolidate unsecured loans with a loan that is secured
- When you haven’t yet solved your spending thrift, and you are spending extremely more than what you earn
- When your loan balances are too high or if your full debt standing is more than half of the income that you earn monthly
- When your application to debt consolidation does not makes sense due to a smaller debt load
Same with debt settlement or filing for bankruptcy, opting for debt consolidation has an equal share of good and bad aspects.
The Advantages of Debt Consolidation
- Reduced interest rates
- A quicker pay off of debts
- Minimum financial requirements are eliminated
- You can have total control of your checking account and paychecks.
- The payment terms are reasonable
- Zero hidden fees
- No waiting period required to get started
- Works with Storefront and Online loans
- Under this program, attorney representation is offered
H2. Installment Loan Consolidation
This plan allows borrowers to merge their credit cards, installment loans, personal loans, department store cards, medical bills, and payday loans. Total control over paychecks and checking accounts is achieved.
When you use debt consolidation, you will benefit from creating all of your unsecured debts into a single easy monthly payment. You will get the satisfaction accrued from paying back all your debts much faster while keeping track of all the transactions.
You can repay your loans on time just through a single payment, thus having peace of mind.
You can opt to get financial representatives who offer personal, private guidance for developing budgets, managing money, the wise use of credit, and creating savings plans. A review of your present situation is put into consideration to provide the perfect financial strategies.
Credit Card Consolidation
The credit card consolidation plan allows you to merge your loans, department store cards, medical bills, and credit cards.
The Credit Card Debt Consolidation program is accepted globally and will reduce your interest rates with your lender between 0-9percent. You can merge all the Credit Cards that you have into a single monthly payment. The total amount of monthly payment is also lower.
You can maintain a perfect credit score with the relevant Credit Bureaus, thanks to the Credit Card Consolidation. Anyone can benefit from working with your lenders to reduce your interest rates and gain financial stability.
Benefits of Credit Card Consolidation
- The credit card consolidation plan lasts between 3 to 5 years
- The interest rates on your accounts are reduced
- There are no set minimum financial requirements
- Waiting Period is not required to begin the program
- The payments are reasonable
- You can maintain a positive credit score
- Financial resources and education is provided
- Only one payment required per month
Payday debt consolidation is undoubtedly the way to go if you are looking for a more efficient and perfect way to repay your multiple loans. Contact Encompass Recovery Group for guidance on how to settle your payday loans with a debt consolidation plan.
References and Resources
How to manage credit card debt