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Payday Loan consolidation question!

Date: Mon, 05/18/2009 - 14:41

Submitted by lorrainehudnall
on Mon, 05/18/2009 - 14:41

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Total Replies: 3


Hi all! My fiance and I are in a pickle with some payday loans and we would like to consolidate them into 1 loan...along with a few other debts. Do any of you recommend a trustworthy debt consolidation company that will include payday loans into the plan? We have talked to a company called Relief LLC just for the payday loans and they charge $100 up front $30/mo (included in their payment) for their fee. It would be a 6 month loan @ $371/mo (our payday loans total about $2000). Is this good? How do I trust this company? I've looked them up on BBB and saw nothing but they are on the Better Internet Bureau (Trustlink) and have a C rating...no complaints. The website is reliefllc.com and they are located in Henderson, NV. Please let me know of any trusted consolidation companies out there that work with payday loans!

Any help/advice on this would be great!! We will never do this payday loan thing AGAIN. Thanks so much!

Rainy


I'm really on the fence when it comes to payday loan consolidation and this is why. If they're store front loans-well that's a different story, if they're Internet loans I definitely wouldn't hire a consolidation company. There are so many illegal lenders on the Internet these days, so, if any of your lenders are illegal a debt consolidation company will not be able to help you, illegal lenders don't follow the law so they have no reason to negotiate with a consolidation company. If you want to find out if any of your lenders are illegal then list them, we will try to help you or give you information to look it up yourself.


lrhall41

Submitted by Shazzers on Thu, 05/28/2009 - 15:15

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They've been in business 3 months so I don't see how anyone has completed their program, let alone obtained the results claimed on their webstie. Plus that website claims that debt settlement won't hurt your credit score (even though some payday lenders and collection agencies DO report to the major credit bureaus.) Texas and New York are suing several debt settlement companies already or making that claim.


lrhall41

Submitted by on Thu, 05/28/2009 - 18:11

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