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Payday Loan Debt Consolidation

payday loan consolidation
Payday Loan Consolidation

Have you ever taken out a payday loan to help you in a financial bind? Maybe you needed a bit of extra cash for an emergency medical bill, or perhaps to fix an unexpected part on your vehicle. We have all been a part of stressful financial situations and payday loans can really help. There are companies in your area that we can connect you with who specialize in a process known as payday loan consolidation. In this article we will give you a little bit of information about what they do.

The downside of payday loans is the high interest rates and penalty amounts that typically come with missing a payment. These amounts can suddenly turn a seemingly feasible payment plan into an overwhelming mess of debt. So, where do you turn when this overwhelming debt takes over? We can help with that!

loan evaluation

Evaluate

When you hire a payday loan consolidation company they will take a look at all of the outstanding payday loans that are currently in your name.

This includes any online payday loans or payday loans that you may have obtained by walking into a store front.

loan negotiation

Negotiate

After the evaluation process the payday loan consolidation company will ask you to begin setting back a certain amount of money per month in an a new savings account that they will open in your name. While you are depositing this monthly amount the company will be negotiating with your lenders to reduce your balances.

loan consolidation

Payday Loan Consolidation

Once the payday loan consolidation company has reached agreements with your lenders they will estimate an amount of time that it will take for you to pay your debts back. You will make a single monthly payment to your payday loan consolidation company and they will bear the responsibility for correctly disbursing it to your payday loan lenders. Once you have completed the payment plan you will be free of payday loan debt and on your way towards financial freedom!

If you think that a payday loan consolidation program would be beneficial to you then don’t hesitate – let us set you up with a company in your area today! All you need to do is call our toll free number listed on our website or fill out our no obligation application and we will handle the rest!

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How to Improve Your Credit Score

Credit Score
Credit Score

Is your credit score causing you stress?

Are you worried about your credit score affecting whether or not you get approved for an important loan?

The fact is that even though your credit score is just a number that represents your creditworthiness it can have drastic effects on your finances.

Lenders take credit scores seriously, which is why you need to make sure that yours is the best it can be. Here are some ways to do that:

1. Pay Your Bills On Time

credit card with laptop

This may seem like a simple solution, but delinquent payments can have a major negative impact on a credit score. Further, any delinquent account that is handing over to a third party collection agency will also reflect negatively.

2. Keep Balances Low

credit card with laptop

Whether it be on credit cards or other types of revolving credit it is important to keep your balances below 30%. High amounts of outstanding debt can negatively affect a credit score. Don’t let this suggestion worry you; you don’t need to have a balance of $0 in order to rebuild credit, just keeping your balances low will do some good.

3. Open New Credit Accounts Carefully

credit card with laptop

Make sure that your reason for pursuing another credit card is sound and not just to have an extra cushion. Don’t open accounts just to have a better credit mix. It probably won’t improve your credit score.

4. Pay Off Debt Rather Than Moving It Around

credit card with laptop

Although transferring a balance to a low interest credit card can be helpful, it only really benefits you if you are able to pay it off before the interest begins. Try to avoid closing unused cards as a short-term strategy to improve your credit score. Owing the same amount but having fewer open accounts may, unfortunately, lower your credit score.

Improving your credit score does not happen overnight, but it can be done. If you are looking for assistance with improving your credit score then you may want to look into hiring a credit repair company. These types of companies will look over your credit report to find items that may be reflecting negatively so that they can suggest to you how to dispute them.

If you are interesting in learning more about how a credit repair company can help you, then simply fill out our online application or call our toll free number today!

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Do You Need Credit Repair?

Credit repair report
Credit repair report

Are you worried that your credit may not be the best it could be? Many Americans are feeling the same way. Some of the signs you may be experiences are: being turned down for simple credit cards or loans, being offered very high interest rates on a new vehicle or mortgage. If you find yourself in these situations often then you may need to consider hiring a credit repair company to help you remedy some of your credit issues.

A credit repair company will assist you with what you probably already know: items on your credit report that are reflecting badly on you or that are completely inaccurate. By having professionals look at your credit report with you they can make intelligent suggestions about the best way to get your credit back in shape. Here are some items that they may point out:

  • Inaccurate amounts, names, account numbers, etc.
  • Out of date accounts
  • Incomplete account or balance information

Items like the ones listed above can negatively reflect on your credit and make it more difficult for you to get a loan. These things can sometimes happen without you even knowing, which is why many financial advisors suggest reviewing your credit report regularly. Once you and your credit repair company have decided which items will be disputed they will assist you through that process.

Credit repair companies
Credit repair companies

Disputing an item on your credit report can sometimes be a lengthy process depending on the type of item you are disputing. For instance, if you are just disputing an incorrect address or spelling of a name then the process can be simple, but for those disputes that involve charges you were unaware of or drastic differences in account balances you may need to show proof.

Credit Repair companies can often estimate how long it will take for your credit to return to a stable level, and give you this estimate before you sign any contracts. It is important for you to have questions for them when you have your initial meeting.

The good news is that hiring a credit repair company is always a step in the right direction – the only way your credit can move is up! If you want to find out more about what a credit repair company can offer you then let us do the leg work – fill out our online application or call our toll free number to be connected with a credit repair company in your area today!