Consolidation on Payday loans

It depends on how much you owe and how much of a payment you can afford to make each month. I think it's safe to say that it is definitely lower than the finance charges the payday lenders take each time you get paid. The consolidation company will go through your monthly outgoings (i.e., mortgage/rent, utilities, food, gas, etc.) and come up with a monthly consolidation payment that will allow you to meet your other financial responsibilities and still have a little bit left over. Obviously the bigger the payment to the consolidation company, the quicker you get your loans paid off.

I don't know each consolidation company operates, but I think the majority usually start sending out proposals once they receive the first payment, which is understandable.

Get your queries sorted out with different debt counselors. Each of them will offer you their best deals. Do a comparison and figure out which one is the best for your situation. No doubt, the interest rates will be much lower than what you are paying at present. I know some consultants are also able to stop the interests and charges from accruing in the future. Combining all the bills in the consolidation program will definitely help.