Need help consolidating my payday loans

Some of the ways to resolve your debt troubles are: The majority of the people that we help tell us that they struggled for over a year to deal with their payday loans.

We sometimes get asked about payday loans and debt consolidation.

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Keep in mind that you will still be responsible for making sure all the payments are made on time.

If the company you are using to make payments on your behalf misses a payment or fails to make payments, those late or missed payments will likely be reported as part of your credit history.

One way to consolidate your debts is to apply for a debt consolidation loan.

The bank will make one loan that you use to pay off the other loans in full.

Your Credit Counsellor with explain what you need to know.

The goal is to give you the information you need so that you can decide what to do about your situation. A consolidation loan is usually at a lower interest rate but over a longer period of time.Because it has a lower interest rate and longer repayment term, a consolidation loan will have a lower monthly payment, helping you manage the debt repayment.However, the term “debt consolidation” may refer to at least two different things.One should not hurt your credit scores, the other almost definitely will.Although payday loans themselves do not typically appear on your credit report from the 3 major credit reporting companies, they can be sold to collections if you become delinquent.

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