Consolidating PayDay Loans

Hi!
Welcome to the Forums!

Well, you can take advantage of payday loan debt consolidation to repay your debts. Payday loan consolidation helps you get out of payday loan hell comfortably.

There are basically 2 types of payday loan consolidation.

Payday loan consolidation program
Consolidation loan

Check out the following page to know about pdl consolidation in details:
http://www.debtconsolidationcare.com/paydayloan-consolidation.html

You haven???t mentioned the name of your state. Anyways, if you are in a financial crisis and can???t repay your debt in full, then you can contact with the CA???s and negotiate with them. You may try to consolidate the debts on your own. If it seems difficult to negotiate yourself, then you may get help from a professional payday loan consolidation company. The following link may help you in this regard:
http://www.debtconsolidationcare.com/paydayloan-consolidation.html

Hi dillars,

Yes, it is possible to consolidate payday loans. There are two main ways in which you can consolidate these. One is, you can consolidate the payday loans on your own by taking out a consolidation loan. Other than that, you can also get help from a consolidation company.

However, payday loans laws vary from state to state and PDL is not legal in all of the states. Moreover, not all of the PDL companies are legal. So, it would be better if you could provide us the names of the PDL companies and the state you are in.

Thanks,

Marvel Becks

hi thanks for answering, here r my loan names
Payday 1 -Online $300
Check Into Cash - Walk In $300
Advance America- Walk In $300
Cash N Go- Walk In $300
500 Fast Cash -Online $600
Bank Of Delaware-Online (Think Cash) $1200
Money Tree- Online $300
Cash Central-Online $300
I live in California
Thanks

You should check from the California Department of Corporations whether or not the pdl companies are licensed to operate in your state. If they are not licensed, then you can get rid of the debts by paying them only the principal amount. You can go for payday loan debt consolidation only when the lenders are licensed in your state. The contact detail of the California Department of Corporations is as follows:
* Address - Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
* Phone - (866) 275-2677

OK so first, 500FastCash and are not legal in CA. Anything you've paid to them so far, you can subtract from the amount they gave you (the principal amount of the loan). You do not have to pay fees or interest. You should only repay the principal amount borrowed. You'll need to follow the instructions in this thread. Close your account before you send the illegal lender letter (and send it via email. Don't waste your money sending certified letters).

Second, FBD/ThinkCash isn't a payday loan. It's an installment loan and you'll need to pay them according to the terms of your contract or work out a settlement or alternate payment arrangement.

And finally, all of your other lenders are licensed. Some (or all) may allow you an extended payment plan. You have to ask for it. Generally, they take the balance currently owed and divide it into 4 equal payments due over your next 4 pay dates.

Can you afford to do that?

Thanks for the response, I contacted a Pay day Loan consolidation place today to set up arrangements to consolidate. They didn't say anything about 500FastCash and I told them that Think Cash was actually Bank of Delaware and they said they can help with that also? This Debt consolidation is out of Florida. I really hope I am not getting swindled? They seem really nice and the payment plan is pretty good and for a 15 month period.. The only thing I am worried about is the Fraud Call I got from the agent for Pay Day one of California. She said if I don't pay her by Noon today I am gonna get subpoena I don't know what to do about that. The Consolidation place said not to worry about it since I signed on with them for consolidation before getting any legal paperwork . This is all soo confusing!

I don't trust PDL consolidation places. Sorry.

Especially if they took on an installment loan and ILLEGAL loans.

Many of these "PDL consolidation" places are in cahoots with the illegal lenders.

I think you should go the other route but that's not my decision.