Payday Loan Help

Payday Loan Help is on the way if you can reach out to a payday loan debt consolidation company, speak with your collections agency, or receive credit counseling.  Usually consumers don’t realize until it’s too late and they are caught in the unending payday loan cycle. Borrowers are given 14 days to repay the debt, something that, something that 85 percent of Americans fail to do. Because of this, most borrowers end up taking out a second loan and renewing the loan for additional fees each time.

You can get payday loan help by taking any of the following steps below:


Negotiate with the collections agency

A collections agency may seem like they don’t want to offer payday loan help, but infact they do. It is in their interest to collect the debt on behalf of the lender. You can negotiate a payment plan or  work with an attorney or a debt management company to negotiate on your behalf or help to set up an affordable payment plan.

Consult a payday loan consolidation company

A payday loan consolidation company provides payday loan help by negotiating with your lender  lenders for a lesser debt balance for you. You only have to pay off the debt monthly until the balance is settled.

Don’t approach a payday loan debt consolidation company without doing your homework first. An ethical payday loan consolidation company will likely offer an initial free consultation. According to the Better Business Bureau, a consumer learns the hard way that debt negotiation companies asks for an upfront initial payment, then disappear with the money without contacting the lenders. As a result, the consumer stops speaking directly with the lender and sinks deeper into debt.

Get Credit counseling

A credit counseling agency is a good place to find payday loan help.  A credit counseling agency’s list of services include financial and budget counseling, community education and debt consolidations strategies.

If you think you’ll get payday loan help from credit counseling, the U.S. Department of Justice has an approved list of credit counseling agencies by state, U.S. territory and commonwealth as well as different spoken languages other than English.

Request a consolidation payment plan

Payday loan help also comes in the form of a consolidation loan, which combines  several debts into one. This lets you pay a small amount monthly toward the due debt balance and get a better handle of your finances.

A consolidation loan does not mean your debt disappears, though; you still have to pay the debt. Speak with financial institutions and credit unions about their loan interest rates and policies. Above all, make sure the cost of the new, combined loan will really be less than the total of your multiple debts. debts. Good credit could make you eligible for a low interest consolidation loan.

Lower My Payday Loans offers Payday Loan Help! For a Free Consultation, call 1-888-958-1224.

Stop Payday Debt Collection Calls

Stop payday debt collection calls by understanding your rights under the Fair Debt Collection Practices Act and how to exercise them. Whether you owe payday loan debt or not, it’s important that you don’t feel cornered when collectors contact you.

The Fair Debt Collection Practices Act prohibits abusive practices by debt collectors, promotes fair debt collection, and provides consumers with a chance to validate debt accuracy. If it turns out you actually do owe debts, take action and make sure they’re paid off.

Here are some steps to Stop Payday Debt Collection Calls.

Ask for written validation of a debt.
Request a written verification of the debt from the calling agency. The notice must include the debt amount, the creditor’s name, and give you options to take if you don’t pay. Get information like the collector’s name and the represented collections agency, and then research this. If it turns out that the collections agency is a fraud, notify your state Attorney General’s office and the Federal Trade Commission.

If the collector does send a written debt validation and the agency is legitimate, set up a payment plan to stop payday debt collection calls.

Write the debt collector.
You can stop payday debt collection calls by sending a letter to the collections agency requesting this. Afterward, the agency can only get in touch with you one more time to say it honors your request or to inform the next step you should take.

Stop payday debt collection calls at work and home.
Under the Fair Debt Collections Practices Act, debt collectors can’t overstep your rights through intimidation or force. They can’t contact you at your employment if they know the employer disallows it.

Debt collectors also can’t do the following to you:

  • Repeatedly call you.
  • Threaten you with violence.
  • Use profanity or other bad language.
  • Falsely claim you will get arrested, get your property repossessed or that they will take any other legal action.
  • Not tell anyone else other than you and your attorney that you owe the debt.

A debt collector may get in touch with other people, but only to find out where you live, your phone number and your place of employment. They can only contact a third part once.

Report the calls to authorities.
If you can’t stop payday debt collection calls after taking these steps, report the problem to the state Attorney Generals’ office and the Federal Trade Commission. Your state Attorney General’s office will discuss your rights with you and take proper measures in handling the collections agency.

Read the Fair Debt Collection Practices Act.

Lower My Payday Loans can help you Stop Payday Debt Collection Calls. Complete the contact form to Stop Payday Debt Collection Calls today.

Eliminate Payday Loans

The only way to honestly eliminate payday loans is to actually reimburse the lender. For the most part, a credit counseling or payday loan consolidation company can’t promise to eliminate payday loans without settlement. According to the Better Business Bureau, a dishonest company would ask for an upfront fee so it can dispatch paperwork to your lender claiming debt absolution.

Here are some ways to eliminate payday loans.

Stop borrowing payday loans.
Prevent the borrowing of payday in order to eliminate them. Most people can’t repay a loan when it’s due in two weeks, so they pay a renewal fee to keep the original loan open. The Pew Charitable Trusts says it takes about five months to resolve a payday loan debt. Once you end the payday loan borrowing, seek other ways like pawning off belongings, asking friends and family for financial assistance or settling the debt with your creditor.

Enroll in a debt management program.
You can also eliminate payday loans by enrolling in a debt management program. Here, you can pay off payday loans and maybe get a lower interest rate. Visit the Better Business Bureau and research local credit counselors and debt management companies. Find out what their consumers are saying. The BBB has more information on choosing a credit counseling agency.

Settle your debt with a debt settlement company.
Ask an attorney or a debt professional to help you eliminate payday loans by settling with a debt settlement company. Obtain a free copy of your credit report from one of the three national credit report agency: Experian, Equifax and TransUnion.

Cut off the payday lender’s access to your account.
Stopping the lender’s access doesn’t eliminate payday loans. It means the lender can’t dip into your account anymore, thus freeing up your time and energy to concentrate on repayment.

Write to your bank or credit union asking they cut off the lender’s access at least a few business days before payment is due. Then, write your payday lender to say you’re revoking authorization. Keep a record of these notices. If the payday lender still withdraws money, close your account and open a new one.

Lower My Payday Loans will help to Eliminate Payday Loans. We provide Free Consultation! Call  1-888-958-1224, and a professional debt counselor will get in touch with you right away.

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