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Can I refinance a payday loan with a personal loan?

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Can I refinance a payday loan with a personal loan? Will it be wise?

Yes, of course!
You can refinance a payday loan by taking out a personal loan. It can help you to save money on interest payments as payday loans usually have higher interest rates than personal loans. Besides, you can get a longer time for repayment. However, you need to have a decent credit score to take out a personal loan at a preferable interest rate. If you don't have a good credit score, you can opt for payday loan debt settlement by calling 800-DEBT-913.

Sub: #1 posted on Mon, 08/10/2020 - 23:12

Craigh.terry Craigh.terry

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You can do that. But, I would like to give you a few suggestions. For instance, there is no need to take out a personal loan to pay off an illegal payday loan. So, first find out if your loan is a legal one in your state. If it is not a legal payday loan, then pay only the principal amount. That's all.

Even if you have a legal payday loan, try to settle it instead of taking out a personal loan.

Sub: #2 posted on Tue, 08/11/2020 - 04:19

David Martin David Martin

(Posts: 388 | Credits: )

Yes, but adding to your debt will not resolve it. I would recommend contacting a payday loan relief company that can settle all your debts for less than you owe. This will save you time and money. Plus will actually enable you to get your debts paid off and with little to no interest. is a great company that can help you eliminate payday loans and credit card debts. You can call them at 888-737-1845. They have settled debts for me and alot of people I know. A very reputable company. I hope this helps you and others.

Sub: #3 posted on Tue, 08/11/2020 - 08:02

Brian Brian

(Posts: 3 | Credits: )

Yes, if it's a legal pdl, then settlement is a good idea. And, from nect time, try to stay away from payday loans. Look for alternative options.

Sub: #4 posted on Thu, 08/13/2020 - 07:26

Mabelle Page Mabelle Page

(Posts: 295 | Credits: )

Hello Arrontom!

By refinancing, a payday loan with a personal loan, you can get a lower interest rate and more favorable terms of repayment that includes a longer repayment plan.

Thus, you can save you money and simplify the repayment process.

Sub: #5 posted on Sun, 08/16/2020 - 23:10

Ryan Miller Ryan Miller

(Posts: 249 | Credits: )

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