The
Problem
Payday loans are
not inherently bad. In a financial jam, a payday loan can be a
welcome (almost guaranteed) source of quick cash. The problem
however, is that payday lenders can "legally" charge interest
rates of up to 400% in some states.
Consequently, most
payday loan borrowers cannot afford to payback the entire
borrowed amount by their next payday, resulting in the renewal
of the payday loan, and the borrower usually pays a fee which
does not go toward the principle amount. This is the payday
loan cycle, and it can go on for years without the borrower
paying a nickel toward their principle borrowed amount.
This is where we
come in. We work with you to firstly, stop the harassing calls
and tell you what the lender can and cannot do. Then we work
with you settle your debt,
and consolidate the entire loan into an affordable monthly
payment to ultimately pay
off your payday loan debt.
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