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Sub: #1 Payday Loan Consolidation?
Replied on 12-27-2006, 01:47 PM
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Tammy, I read a post about consolidation of payday loans. How does this work and who can I contact? I have a big mess with these! Please help! Robin Dutton


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Sub: #2
Replied on 12-27-2006, 02:21 PM
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Robin -

Since you have registered with this site, a consultant from your area will contact you soon to discuss debt consolidation or settlement, which will include your payday loans. Make sure you have all your information available when they call, so you can get started.

You've made an important first step - soon you will find yourself back in posession of your entire paycheck, rather than paying the whole thing out to payday loan companies in fees.

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Sub: #3
Replied on 12-27-2006, 02:55 PM
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Suebeehoney, I wasn't aware that you could consolidate them. And if you do, does the interest still accrue??

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Sub: #4
Replied on 12-27-2006, 03:01 PM
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You will need to talk with the counselor and discuss your options. Most will be able to bring down the interest rates and waive off maximum fees added in the total. The best thing to do on pdls is a settlement, rather than going for consolidation. You keep on paying it every month until the debt is cleared. If you have it settled in one time, you are out of it.


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Sub: #5
Replied on 12-27-2006, 03:03 PM
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You know, Nat, I'm not sure about the interest question. I do know that when I signed up here and was offered consolidation, they specifically said they would work with my PDL's. Many other credit counseling companies I called specifically said they wouldn't, and didn't know any credit counseling agencies that did.

You might try the ranking list on this site and contact one of the agencies for your state and just ask them that question. I know for most debts, when they are going through a credit counseling agency, the interest is either greatly reduced or eliminated altogether.

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Sub: #6
Replied on 12-27-2006, 03:03 PM
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Hey, onelamb - you wanna race?!? LOL

We seem to be following each other tonight!

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Sub: #7
Replied on 12-27-2006, 03:05 PM
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You are pretty fast, Suebee. I will be glad to stand after you.

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Sub: #8
Replied on 12-27-2006, 03:06 PM
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I think that you and Steelers are just about the fastest ppl on here...


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Sub: #9
Replied on 12-27-2006, 03:07 PM
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Nope, onelamb, just stand beside me and we'll work on these together!

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Sub: #10
Replied on 12-27-2006, 03:16 PM
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Yup! I see so many people here just to help others. Good thing to happen in this community. There will be a day when questions from people will be less in front of loads of answers put by this community. This is from real experience. Nothing is more valuable and true than being in the shoes and to face problems, then advice others not to repeat those mistakes.


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Sub: #11
Replied on 12-27-2006, 03:20 PM
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Very well put!

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Sub: #12
Replied on 12-27-2006, 03:26 PM
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I actually think that someone else posted a message about the interest...Thanks...

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Sub: #13 PDL'S CONSOLIDATION
Replied on 10-11-2008, 11:17 AM
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WH DO I NEED TO CONTACT ABOUT CONSOLIDATING MY PDL'S?




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* Disclosures:
  • By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  • Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
  • Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  • Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  • The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
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