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Consolidating Payday Loans: Payday Loan Relief That Works

Are you familiar with payday loan consolidation?

If your answer is no, then now is the time for you to know what it is all about and how it can help you financially in no time.

Are you drowning in credit card debts?

Do you want to be debt-free?

Use credit card balances frequently for purchases?

Do you want to change your current financial situation?

Worry no more. Help is here at PaydayPot!

In what ways may paydaypot debts be consolidated?

In case you didn’t know, hundreds and thousands of people across the globe are drowning in debt. You are not alone in this type of financial situation.

People who are deep in debt usually suffer from the following scenarios:

  • Piles and piles of pending payday loans
  • Credit card debts due to the usage of several credit cards
  • Default loan amount payments
  • credit unions debts
  • Mortgages
  • Unpaid utility bills.
  • Obligation because of home improvements
  • prepayment penalties

Given the following pointers above, we at PaydayPot understand how hard it is to develop a well-thought payment plan for debt settlement.

Especially if you are dealing with the harassing collection calls of payday lYou alveolus, you have a long list of credit card debts to your poor spending habits.

Thus, you find yourself drowning deeply in debt because of it the thing list.

That is what payday loan consolidation in Paydaypot is all about.

To help you eliminate debt by creating a strategic financial plan to repay your payday loans without the hassle and pressure of doing so.

Consolidating your online payday loans will help you achieve the following:

  • The reduction of the payday loan balance and monthly payment
  • The actual payday loans reduce costspayments into one monthly payment plan.

Paydaypot: What Does Consolidating Your Payday Loans Mean?

Payday loan consolidation is also known as a debt consolidation loan.

It is a personal loan for people with bad and poor individual credit scores.

This loan guarantees you get the debt management plan and consolidation services you need for your current financial situation.

When you consolidate your payday loans with Paydaypot, how does it work?

Our first step is a complimentary consultation in which we assess your current condition. How much money do you owe, who do you owe it to, and what is your overall financial picture? To help you get out of payday loan debt, we’ll speak about our choices to assist you in repaying your debts and how to prevent depending on payday loans.

By enrolling in our repayment program, you give us permission to contact your payday loan lenders and work out a consolidation plan.

PaydayPot will take care of your monthly payments until your loans are paid in full, making it easier to manage your finances.

Can you describe the two parts of Paydaypot’s payday loan consolidation service?

Payday loan consolidation program

A consolidation service is a better option for you. We highly recommend it here at PaydayPot.

This financial program gives borrowers a monthly payment plan that perfectly fits their financial capacity (budget).

With that being said, you, as the borrower, do not have to manage and handle multiple payday loans or surrender collateral (property, asset, goods, etc.) at stake in the payday loan debt consolidation company.

A Debt consolidation loan

Debt consolidation loans involve surrendering collateral against the payday debt consolidation company.

When securing this personal loan, you must offer collateral for security purposes.

If you want to get secured loans as you consolidate payday, you will pay higher interest rates, annual percentage rates (APRs), and other fees that come with the loan.

What Is the Difference Between Payday Loan Consolidation and Debt Settlement?

It is possible to settle a debt by paying less than what you owe, while consolidating your debts implies that you will make just one monthly payment until the new, lower-interest obligation is paid in full.

Do I need to verify my identity with Paydaypot?

A payday loan debt consolidation company offers debt relief services (such as this one) on-site or online at PaydayPot.

This type of loan is not secure.

There is no physical collateral (such as your property, goods, or assets) that you need to surrender.

All you have to do is to provide a written agreement that states your promise to pay it on time or before the maturity date (due date).

In some cases, some consolidating companies still require the borrower to provide one of their assets as collateral.

These companies typically need such collateral:

Is there a list of acceptable collateral for Paydaypot loans?

  • House and lot
  • Car (outright ownership)
  • Accounts under your name, such as bank account, debit card, and even insurance policies
  • Other properties under your name (outright ownership as much as possible)

After that, consolidating all your payday loans is the best (and may even be the only option left) solution for clients with bad personal credit checks (also called debtors) with a large amount of debt.

What are the Paydaypot Requirements and Qualifications?

As a borrower, the basic terms and conditions will determine whether you qualify for this debt assistance.

Requirements and Qualifications to Obtain a Payday Loans Consolidation
Basic Information Your essential contact and personal information (see online application form above)
Identification Government-issued valid IDs
Active accounts under your name Bank and checking account
Proof of employment Certificate of employment (COE) or any proof that you have a stable and regular job
Proof of income Latest pay stubs or payslips from your company and employer. This is to state the level of your financial capacity. Your proof of income is also.
Collateral. Most consolidating companies only require the borrower’s signature (electronic signature if you apply online, such as here on PaydayPot) as the collateral. However, some still require their borrowers to surrender one of their assets, properties, goods, etc.
Co-signer, co-guarantor, co-maker The co-signer serves as a representative of the borrower. If the borrower fails to repay the payday loan consolidation program, the consolidating company will contact the co-signer to write and sign a promissory note.

When Should You Consolidate Your Payday Loans through Paydaypot?

The payday loans consolidation program of PaydayPot comes in handy if you are currently in a situation where:

  • You have difficulty repaying all your pending payday loans (and other loans in particular) with high-interest rates and annual percentage rates (APRs).
  • You wish to protect your next paycheck from payday loan lenders.
  • You are feeling stressed about your financial crises due to debts in bad payday loans.

 How Much do I have to Pay Every Month at Paydaypot?

The upcoming monthly pay for the payday loan debt consolidation program varies for each borrower. With that being said, your monthly payment amount depends on the following factors:

  • How many payday loan lenders are willing to lessen the interest rates and annual percentage rates (APRs)
  • How many outstanding payday loans that the borrower has.
  • The amount of money funded in the separate account (for payday loans consolidation program purposes only).

Asked Questions (FAQs) on Payday Loan Consolidation from Paydaypot

Suppose you have any more queries concerning the payday loan consolidation. We list some of the most frequently asked questions (FAQs); read on below and see if we have included one of your questions.

Can I go to Jail for not Paying a Payday Loan?

No. Payday lenders will only list borrowers who fail to pay on time as defaulters.

Then, depending on the lender, they may require you to submit your name and personal details to the regulatory board agency in your local state.

The regulatory agency may send your name to other payday lenders.

Thus, you are banned from accessing payday loans until you settle your pending payday loans.

Once you are on the list, other payday lenders, including lending companies, banking institutions, and other financial companies, will list you as a defaulter.

That is why you must consolidate all your short-term payday loans as soon as possible.

We make it possible here at PaydayPot because applying and getting one is purely done online.

Plus, we guarantee you will get debt relief and assistance in no time.

Can I go to Jail Because of an Illegal Payday Loan?

No. Neither

Payday loan lenders and illegal ones who have authorization can put you in Jail if you have defaulted a payment (fail to pay on time or missed a cost).

Bottom Line

Are you still in doubt about this? Then stop having second thoughts about whether you will try the payday loan consolidation.

Please do not hesitate to give us a call so that we can answer all your inquiries about it today.

Finally, you will no longer drown deep in your debt problems here at PaydayPot.

We guarantee you that you will be debt-free because we also offer free credit counseling apart from our debt relief services, debt consolidation programs, and secured and unsecured debts.

That said, we assure you that you will be debt-free if you avail of one of our payday loan consolidation programs.

Aside from that, we also offer a variety of debt consolidation programs and debt relief services (such as defaulters consolidation service), whatever your financial situation is.

So, what are you waiting for? Just fill up our online application form here at PaydayPot. We will connect you to a reputable consolidating company in no time.

We have a long list of consolidating companies and a network of debt negotiators that are more than willing to help you.

Get the debt-to-income settlement and consolidation services you need with us here at PaydayPot.

 

Loans Writer at PaydayPot | Website

Gemma Elizabeth Donalds is a loans editor for the PaydayPot team. She is dedicated to helping customers make informed decisions about their finances regardless of whether they are trying to locate the most extensive payday loans or the best emergency loan for their specific needs. In her spare time, Gemma Elizabeth prefers to be a phonographist, cranking old records on an antique phonograph and discussing how blockchain technology could change the way people manage their finances.