How much money would debt consolidation save me?
Date: Fri, 03/24/2006 - 03:29
notell, Personally I never dealt with payday loan industry. B
notell,
Personally I never dealt with payday loan industry. But the idea I have got from being in this forum is that consolidation can terminate the never ending cycle. Can you see the end point at your present situation? Can you calculate by when all of the loans will be paid in full? How far will you continue to pay $500 per month?
If you consolidate the loans, you will get answers to the above questions. And monthly installments will be reduced also.
However, if you are still current with your payday loans, I will suggest you to talk to your lender first. If they offer you a payment arrangement, it's well and good. But if they are rigid, then go for consolidation. Hope other members who have practical experience with payday loans will offer you more details. Keep watching.