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Is it a good move to take out a personal loan to repay payday loan?

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Is it a good move to take out a personal loan to repay payday loan? Will it help to save dollars?"




The interest rate on a personal loan is lower than a payday loan. As you know, the interest rate on a payday loan is between 300% and 500%. I do not know how much you are paying on the loan. Yes. You can pay off the payday loan with a personal loan. However, there is yet another option that you can try. You can try to settle your payday loan debt.

Sub: #1 posted on Sun, 11/08/2020 - 23:56

David Martin David Martin

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If you're struggling to repay a payday loan, then taking out a personal loan with a lower interest rate and using it to repay the payday loan may be a good option.

It will help you to save dollars on the interest rate.

Sub: #2 posted on Tue, 11/10/2020 - 05:48

Ryan Miller Ryan Miller

(Posts: 249 | Credits: )

No doubt, interest rate of personal loans are usually much lower than that of payday loans. But to take out a personal loan at a preferable interest rate, you need to have a decent credit score. So, I would advise you approach a genuine debt relief company to get rid of payday loans with ease. Call 800-DEBT-913 for immediate debt help.

Sub: #3 posted on Sun, 11/15/2020 - 20:15

Craigh.terry Craigh.terry

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