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.