How Payday Consolidation Can Help You:

image

Make one affordable payment

image

Stop collection calls

image

Get free of debt in 6, 12 or 18 months

image

Eliminate Interest & Fees

image

Avoid Bankruptcy & Lawsuits

image

Stop the payday loan debt cycle

If You Feel Overwhelmed With Debt, We May Be Able To Help!

Contact us Now

Welcome to lowermypaydayloans.com – we help in providing payday loan consolidation

Are you among thousands of people who are trapped in several payday loans with different repayment plans? At lowermypaydayloans.com, we will help to easily consolidate your debts within a limited period of time. All you need to do is contact us on and have your debt under control.

Debt consolidation is the most convenient way to repay accumulated payday loans. All you need to know is understanding what consolidation is. With debt consolidation, you will be able to pay off all your loans to remain with one single debt. So what are the advantages of consolidated loans?

  • Less interest paid
  • Avoid additional charges
  • Convenient and stress-free
  • Avoid collection calls and legal threats
  • Have a single, monthly installment loan

Payday Loan Consolidation

Top benefits

    • Stop the embarrassing calls from creditors
    • Reduce your interest rate
    • Consolidate your payday loans
    • Get expert advice
    • Reduce the interest rate and fees
  • Reduce the monthly payment

We are a trusted company that has worked with thousands of clients who were stuck in debt, just like you. We have managed to help most of our clients get out of the payday loan cycle and regain their financial health. 

Payday loan consolidation and payday loan relief programs

When it comes to payday loan consolidation, bankruptcy should be the last option to consider. There are many other ways for you to live a debt-free life. Our company understands how overwhelming payday loan debts can be. Besides, not everyone can offer the help you need. With payday loan consolidation services, you can put your financial life back in order. 

The best payday loan consolidation service

Today, people look for payday loans when in need of quick cash. But thanks to the ease of qualifications, most people get addicted to borrowing. The high-interest rate and fees for payday loans make things worse. 

Even when you pay the amount in full, whatever amount you remain with won’t sustain you for the whole month. This means that you will have to borrow again and the cycle goes on and on. Lucky enough, LowerMyPaydayLoans offers the best debt consolidation programs. We help people like you get out of the payday loan trap and start living a life free of debts.

Looking into our payday loan consolidation program

The aim of our payday loan consolidation program is to give you financial freedom. The program helps clients in different ways, which include;

    • Lowering their monthly payments
    • Reducing the interest rate
    • Consolidating multiple payday loans into a single payment
  • Stopping embarrassing calls from creditors and debt collectors

We know how devastating it can be when trapped in debts. We have helped thousands of consumers get rid of payday debts. If you need any clarifications, do not hesitate to get in touch with us. Our debt consolidation team will answer all the questions you have about our programs.

LowerMyPaydayLoans payday loan consolidation strategy

We have payday relief programs that help consumers like you eradicate their payday debts. It is only a matter of time for you to be where you want to be as far as your finances are concerned. So do not waste any more minute thinking of how to handle the situation. Contact us today and know more about our payday loan consolidation programs.

It is easy to consolidate your payday loans

With the current financial situation, a lot of people are struggling to pay their bills. The sad reality is that most people live from paycheck to paycheck and hardly have extra cash to save. Those who apply for payday loans have to choose between taking care of their monthly budget and making loan repayments. Even those who work for longer hours cannot boast of anything to show of it at the end of the day. 

This is the reason why many people end up taking more payday loans.

What makes payday loans attractive?

Payday loans are in no doubt the easiest types of loans to qualify for. It only takes a few minutes to apply. Besides, you can receive the money in as soon as 24 hours. However, lenders know exactly what they are doing when issuing these loans. 

For you, applying and qualifying for a loan within one business day is convenient. This is especially when you have urgent financial needs to take care of. But in most cases, this is usually a trap. The truth is that payday loans attract the highest interest rate and fees. If you don’t pay up on time, it is the lender that will benefit more, not you.

Payday loan consolidation or payday loan relief?

Getting payday loan relief is exactly what you would want to hear when trapped in debts. Most payday loan lenders take advantage of the consumers’ situations. This is through imposing stringent terms and charging high interest on the loans. 

This is the reason why so many people get into debt even when they never planned for this to happen. The lenders entice consumers with loans that are easy to qualify for. But when it is time to pay, these people are left holding a bag full of payday loan debts.

Is payday loan relief legal?

 This is an important question for anyone with payday loan debts. Yes, payday loan relief is the best option to go if you need help with your payday loans. However, you should note that payday loans are not legal in all states. 

In some states, it is not legal to charge high-interest rates on payday loans. And in others, lenders are not allowed to use enticing terms when issuing the loans. The high-interest rates and enticing terms are rendered abusive in some states. This is why they make the loans illegal.

The loans are convenient in that it is easy to apply and qualify for them. But this also comes with its share of risks. You may believe that this is only an act of good customer service. But it is never the case. 

All the lenders want is to ensure that you get the money as fast as you need it. They give you little or no time to go through their terms and conditions. You will have very little time to sit down and think about what exactly you are getting yourself into. In short, this is only a way to have you sign the terms and conditions fast.

Payday loan consolidation can help you out

Getting into a payday loan cycle is the last thing that anyone can wish for. What you need to know is that getting into this cycle is easy. But picking yourself together again won’t be a walk in the park. 

This is a cycle where you have to borrow extra money to pay off your outstanding debts. This means that you are accumulating your payday loans and credit card debts. You will therefore get back to the same financial problems that you had before. It only creates a mountain that is not easy to climb.

You can look at that mountain and get discouraged. For some, declaring bankruptcy may seem to be the only way out. This may seem to be the solution at the moment, but not in the long run.

 For one, a bankruptcy entry can stay in your credit report for up to 10 years. Secondly, you may still end up losing some of your assets. We have also heard cases of people taking their own lives due to accumulated debts. This is how dangerous payday loans can be if you are not keen enough. But it does not have to reach this far.

Instead of contemplating suicide, there is a better option to consider. You don’t even have to file for bankruptcy.

 Join our payday loan consolidation program today. The program can help you achieve what you initially thought was impossible. It will help you get rid of all your payday loans for good.

Defining payday loan consolidation

Payday loan consolidation means rolling all your outstanding debts into a single loan. This new loan has smaller monthly payments. The interest rate is also lower than the original loans. In short, you are taking out more loans. But this time, the loan has a lower interest rate and manageable repayments. 

If you have several payday loans, you can roll them into one debt. This makes it easy to manage loan repayments.

Payday loan relief makes it possible to pay less than what you owed. You won’t have to worry about more borrowing. At the same time, you are likely to get a reduced interest rate for the new loan.

LowerMyPaydayLoans cares

Owing a payday loan lender is a saddening experience. If you have these challenges, then you are not alone. Many other people are sailing on the same boat. You may feel naïve and stupid have taken out the money in the first place. At times, you may feel that no one understands your situation.

 What you need to know is that getting payday loan help is easy. There are resources that can help you get out of debt fast.

Payday debt relief services

Payday loan help services are exactly what you need when trapped in payday debts. 

We will guide you through the best payday loan consolidation program. We will also explain to you how other people with the same situation as yours managed to get out. Additionally, we will help you go through the terms and conditions for these payday loans. 

You can be surprised by the number of people that sign the payday loan contract even without reading the loan agreement. Most payday loan consolidation services also have a hotline number. This can be helpful for anyone who is embarrassed to talk about the situation with people they know. You can call the service anonymously. 

Note that these are professionals who have dealt with similar cases before. So they know exactly what you are going through. They will offer the services you need to get out of payday loans for good. The best payday loan consolidation service will be throughout the process. At least, you will know that there is someone who understands and cares about your situation.

 These services help the average consumer live a fulfilling, and debt-free life. Don’t feel embarrassed to ask for help when you need it. Actually, shame should be not asking for help when you are dealing with multitudes of debts. 

Remember that the longer you accumulate the debts the higher the interest rate and fees will be. At the end of the day, you will have nothing to be proud of but a depressing life. Most people shy away from speaking about this matter. Not even their family or close friends are aware of what they are going through. This is usually a sad thing.

Which is a better option, debt consolidation or bankruptcy?

Even before deciding what to do with you with your payday debts, it is first important to weigh your options. To decide whether debt consolidation is the best option, you first need to find out the long term impacts on both.

Bankruptcy

Bankruptcy can help eliminate all your payday loan debts. However, this option can affect your future finances. 

Generally, a bankruptcy record on your credit report will stay for up to 10 years. This will obviously affect your credit score. And with a bad credit score, it is almost impossible to qualify for affordable financing. Additionally, you may lose opportunities to get employment or even rent an apartment. Eventually, declaring bankruptcy will do more bad than good to your future finances. 

Debt consolidation

With debt consolidation, you are basically rolling your unsecured debts into one payment. It is easy to manage this loan that requires monthly payments. This loan comes with a lower interest rate. Besides, this new loan won’t have a severe impact on your credit report the way bankruptcy does. 

If your credit score will at all be affected, it will only be for a short time. 

In short, loan consolidation is by far the best option compared to bankruptcy. 

Do I need to pay tax for the money I save for debt consolidation?

Before we answer this question, you first need to know the difference between these two terms;

    • Debt consolidation
  • Debt settlement
  • Debt consolidation

This is where you apply for a new loan to pay off all your unsecured loans(personal loans, credit card debts, etc). This new loan has manageable monthly payments and a lower interest rate. But at the end of the day, you will pay every single coin you owe.

  • Debt settlement

Here, the debt settlement company negotiates with creditors on your behalf. The company requests that the creditor;

    •  Eliminate the fees
    • Reduce the interest rate and 
  • Lower the principal amount you owe 

If this works out, a percentage of your debts will be forgiven. 

How these two options will affect your taxes

For debt consolidation, you are honoring to pay all the money you owe. But for debt settlement, the forgiven amount comes with tax liability. Even when the lender forgives part of the loan, they will report this amount to the IRS. The IRS considers this as your income, which means that you have to pay taxes on it.

When I enroll in a debt consolidation program, how much will my new payment be?

There are many benefits of enrolling in a debt consolidation program. The main benefit is that you don’t have to file for bankruptcy. 

Bankruptcy should be the last thing on your mind. For one, it is going to have a severe impact on your finances. Debt consolidation is all about getting a new loan to pay off your outstanding debts. This new loan comes with manageable monthly payments. The interest rate will also be lower than what you would have otherwise paid. Lastly, you won’t have to worry about annoying calls from creditors.

What is the difference between debt consolidation and a debt consolidation loan?

Most of the terms relating to debt programs are confusing. You might assume that debt consolidation and a debt consolidation loan mean the same thing. What you need to know is that these are different terms.

A debt consolidation loan is the amount of credit you apply for in order to pay all your unsecured debts. But debt consolidation simply means rolling all your loans into a single payment. The Reasons why people consolidate their debts is to;

    • Reduce the interest rate and 
  • Make loan repayments more manageable 

Applying for a debt consolidation loan is a risky option. This is because you have to give an asset as collateral. This can be your business, house among other things. If you default on this loan, the lender can repossess your property.

Why types of debts can I consolidate?

Debt consolidation companies mostly deal with unsecured debts. Secured debts are in most cases not included unless it is a car loan. It is rare for consumers to get into debts because of secured debts, for instance, a mortgage. That being said, here are the types of debts that a debt consolidation company can help you with;

Payday loans

Applying for a payday loan is easy. You can also get the money within minutes. But what you need to know is that payday loans are risky. The high interest rate and finance charges lead a lot of consumers into a debt trap.

Credit cards

The high APRs charged on some credit cards can easily lead a consumer into debt.

Unsecured personal loans

This is where student loans fall. You can apply for unsecured personal loans with the best intentions. But some people still find it difficult to pay the money back. 

How long will it take to be debt-free?

The first thing that a payday loan consolidation company does is to offer you a plan. This is a customized plan that fits your specific situation. The time it takes for you to be debt-free varies depending on certain factors. 

Some of these factors include the amount of money you owe and how much you commit to paying every month. Most payment plans are for 6, 12, and 18 months. To qualify for the program, you should have at least $600 in accrued debts. Some of our clients only have a few payday loans to care about. Others have thousands of dollars to pay. 

By consolidating payday loans, you will only be making one payment every month. This payment is made to the debt consolidation company. The company then distributes the money to your creditors. 

How can I tell if the company is paying my creditors?

As we already said, debt consolidation means taking out a new loan to pay off all your unsecured debts. This debt repayment method is actually the easiest to understand. However, you might wonder how to track payments to their creditors. 

Remember that the debt consolidation industry is full of scammers. So you have to ensure that all your creditors are being paid as agreed. Lucky enough, there are different ways to do this;

First, reputable debt consolidation companies give their clients a digital account summary. You can view it through an online portal. In this portal, you can get important information like;

    • The type of offer the payday loan company has made to each creditor
  • Creditors who have responded to this offer

Alternatively, you can call the company directly to keep track of the payments. The company can email you a print out of history. As their client, you have the right to access this payment history. It is important to know that the company maintains communication with your creditors.

Will debt consolidation lower my interest rate?

Are you looking for payday loan consolidation services? If yes, then it is clear that you are already trapped in debts. Lucky enough, our debt consolidation programs can help you out. The program will, first of all, lower your monthly payments. This makes loan repayments manageable. Secondly, it reduces your interest rate. 

What are the requirements to qualify for a debt relief program?

LowerMyPaydayLoans offers a free consultation for payday loan consolidation services. Applying for the program is fast, simple, and free. We will first assess your financial situation. Then our team members will get in touch with creditors on your behalf and find a solution to your debts.

Handling debts by yourself can be frustrating. A debt consolidation program can help put your financial life back in order. Our team members will work to ensure that your monthly payments reduce. Your interest rate will also reduce. Besides, you won’t have to deal with harassing calls from creditors anymore. 

Declaring bankruptcy shouldn’t be the only solution when you are in debt. There are so many other alternatives you can use to become debt-free again.

How will the program affect my credit score?

If you have a debt problem, the one thing that worries you more is your credit score. After all, most of the important things we do revolve around our credit scores. It can affect your ability to get employment, rent an apartment, or qualify for financing. Anyone with unsecured debts should worry about their credit score. If this is the case, then payday loan consolidation might be the best solution for you.

But how can this program affect your credit score?

Contacting a payday loan consolidation company means that you have credit issues. The longer you take to attend to this issue the more your credit score will be affected. Lucky enough, a payday loan consolidation program can help you out.

Since you will be applying for new credit, your credit score will slightly drop at the beginning. Debt settlement on the other hand will have more severe effects. This is because you won’t pay the full loan amount. For debt consolidation, you will commit yourself to pay every cash you owe. So long as you make payments on time, your credit score will improve. This however will only come true if you complete the program.

Will my debt be reduced?

If you are trapped in debts, do not be afraid to speak out. Get more information about debt relief programs that can help you out. If a debt consolidation program does not work out, you can consider debt settlement. 

When it comes to debt settlement, we will help negotiate with your creditors to reduce the amount you owe. Most of the creditors give in to this request. After all, it is better to recover some cash rather than getting nothing altogether. Regardless of the program enrolled in, you also would want to know whether your debt will reduce and by how much.

When we negotiate with creditors, our main aim is to reduce your debts as much as possible. We want to ensure that we reach an amount that you can comfortably pay. We can’t really tell whether your creditors can agree or not. But what is important is that they are willing to cooperate. We will however give you a rough idea. 

Over the years, we have managed to reduce most of our clients’ debts by over 50%. We can therefore say that your debt can reduce by 25% to 50%. This is after we finish negotiations with your creditors.

Conclusion

Living with payday loan debts can be a nightmare. The endless calls from creditors will surely give you sleepless nights. Besides, some of the lenders might also surprise you with a lawsuit. As days go on, your debts will continue to increase and so is your stress level.

LowerMyPaydayLoans has debt relief programs that can help in such a situation. With our programs, the principal amount you owe, as we as your interest rate will reduce. Some creditors also agree to waive all the fees. Our work is to negotiate with credits and ensure that you pay what you can afford. This will help you get out of debt fast!

Payday Loan Debt Consolidation

Apply Now!

We are Here to Help You