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One of my friends is having a huge pdl debt. What is the best way out? She is owing around $15,000

I guess, she has borrowed multiple payday loans from multiple payday loan companies. Otherwise, it wouldn't have been possible to incur so much debt. Jeez! What a mess!

Look, I need a list of her payday loans. Have to check if they are legal or illegal. For legal payday loans, she has 2 options:

She can settle payday loans
She can go for the Extended Payment Plan Here, the interest rate is frozen and she can pay the outstanding amount in 4 equal installments.

For illegal payday loans, she can just pay the principal amount.

Sub: #1 posted on Wed, 01/08/2020 - 23:09

Nick Jonas Nick Jonas

(Posts: 427 | Credits: )

Are they legal lenders? In which state she is from? If the enders are legal, then she has to repay the loan with interest rate. She can ask for EPP.

Sub: #2 posted on Mon, 01/13/2020 - 05:50

Sanders Patricia Sanders Patricia

(Posts: 1238 | Credits: )

Hi there!

Payday debt consolidation can be the right choice for your friend. I guess she is entangled in multiple payday debts that is why the loan amount has turned into a giant figure.

Look, I am giving you the correct advice as I am a sufferer too. She cannot manage the multiple interest rates and payment dates all by herself. It is next to an impossible task. Ask her to get in touch with a payday debt consolidation firm. They will negotiate with the lenders on her behalf.

Take a look at why I am pursuing her to contact a payday debt consolidation firm.

The multiple payday debts will be consolidated and it will turn into a single amount.

The single monthly payment too will be an easy and affordable amount now.

I hope she is aware that the interest rate is the main mischief in the payday loan. That is why I am telling her to go to the payday debt consolidation experts. They will try their best to slash the interest rate of the payday loan and give it a gentle figure.

She will get relief as the experts are going to stop the continuous phone calls that she may have received still now from the lenders.

The experts will prohibit the lenders from withdrawing amounts from the bank account without a proper permission.

I hope I have clarified to your friend about what is the best option available to her. Now the choice is her.

Sub: #3 posted on Mon, 01/20/2020 - 23:37

Ryan Miller Ryan Miller

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