You’ve probably heard about debt consolidation when it comes to payday loan relief. While it can be useful, it isn’t the only option available. Payday lenders are required by state law to provide debt relief. Another option is debt settlement, which may be more beneficial if you have more than one payday loan. But you’ll need to find out if you qualify for this option before moving forward. Here are some tips to get you on your way to payday loan relief. Click here – nationalpaydayrelief.com/payday-loan-consolidation/
What Are Your Options For Payday Loan Relief?
A debt consolidation program may be an option for you, but it requires the appropriate credit score and income. While there are legitimate debt consolidation programs, it’s best to investigate the company’s credentials and any claims. The Consumer Financial Protection Bureau (CFPB) has a list of consumer complaints related to payday loan consolidation companies. If you’re unsure of the company’s legitimacy, you can always use its Consumer Complaint Database to see if any previous clients have complained about the company.
Chapter 13 bankruptcy is another option for payday loan relief. In this option, you’ll retain some assets and liabilities and set up a repayment plan that gives you more budgeting freedom. Chapter 13 bankruptcy may seem like an ideal solution to your problems, but it is difficult to navigate and can have a negative impact on your credit report. However, if you need to make a quick and easy repayment plan, this option is for you. Lastly, if you’re worried about the potential impact of bankruptcy on your credit score, consider Lending Club’s payday loan relief program.