Do You Need a Payday Loan Consolidation?

A payday loan consolidation is a program where a debtor hires a company to negotiate and consolidate their payday loan debt so that their balances are reduced and they are only responsible for a single monthly payment. As much as we wish there was, there is no specific equation that one can use to determine whether or not they need a payday loan consolidation. You are the only one that can decide that. However, at we can give you some questions to ask yourself that may help guide you in the right direction.

  1. How much payday loan debt do you have? This should be a fairly easy question to answer. Even without grabbing a calculator and adding up exact amounts just put an estimate down on paper. Is it more than $1,000? If it’s less than $1,000 you may be better off discussing a payment plan directly with your lender. If your payday loan debt is more than $3,000 then a payday loan consolidation could really help.
  2. Are you being constantly contacted by your lenders? There are laws in America today that protect debtors from being harassed by third party collection agencies, but 1st party lenders (the lender you borrowed directly from) have more rights. If you are dealing with a phone call, email or letter every day from a payday loan lender then it may be a good sign that you should consider payday loan consolidation.
  3. Have your lenders threatened legal action? Payday loan lenders have the right to certain kinds of legal action such as garnishment of wages. You will need to review the contract that you signed with them at the beginning of your loan to ensure that they can do this. Garnishment is a difficult thing to withstand because it is coming directly out of your gross wages. The only thing that can stop a garnishment is full payment or filing a bankruptcy.
  4. Could you potentially pay off your payday loan debt in 1 year? Answer this question with your current income and expenses in mind. Do you have money leftover to make a substantial payment on your payday loans each month? If the answer is no, then you could most likely benefit from payday loan consolidation.

Were you surprised by any of your answers to these questions? Do your answers point you in the direction of a payday loan consolidation? If you could benefit from lower balances and the ability to only pay 1 payment per month towards your payday loan debt then consolidation may be the program for you. Fill out the simple online application on or call our toll free number today for more information about how a payday loan consolidation can benefit you!

Basics of Payday Loan Consolidation

Do you feel like you are drowning in payday loan debt? Does it seem like you get a phone call from a different payday loan lender every day? If your answer to both of these questions is “yes,” then you may want to consider a payday loan consolidation. Payday loan consolidation is a process where the debtor hires a company to negotiate their payday loan debt in hopes of reducing their overall balance and eventually rolling all of their payday loan debts into an easy to manage monthly payment. With you can fill out an online application, be connected to a payday loan consolidation company and be on your way to finally getting rid of payday loan debt once and for all. Here’s how it works:

  1. Use to find a company – There are two ways to fill out our application. One is to use the easy online application you can access anywhere on our website. The other is to call our toll free number and speak with a representative. Either way we will need simple information like contact information, an estimate amount of your payday loan debt, and the number of lenders you have.
  2. Connect with a company near you – will send your information to a comapny in your area so that you can move forward with the process. The payday loan consolidation company will evaluate our situation in more detail and discuss your options with you. After looking at your monthly income compared to your expenses the company will decide upon a certain amount for you to begin to save. You will place this amount into a new savings account opened in your name by the consolidation company.
  3. Let the negotiators work for you – Once your new savings account has reached an agreed upon amount the payday loan consolidation company will begin to negotiate directly with your lenders. They will use the money you have in your savings account as proof that you have a means to pay some of your debt back. They will hopefully be able to lower your overall balance.
  4. Finalize the consolidation – After the negotiations are complete the payday loan consolidation company will begin to consolidate your new balances into a single monthly payment. They will inform you of exactly how much your new monthly payment will be and how long you will need to pay it. In most cases payday loan consolidation can be completed in 6-18 months.

If payday loan consolidation sounds like a process that you could benefit from them don’t hesitate. Fill out the online application at or call our toll free number to speak with someone today. You could be on your way to finally saying goodbye to the mounds of stress that payday loan debt can cause.