If your loan or credit payments are out of control, and you’re feeling a burden of too many loans all at once, then loan consolidation may be for you. Loan consolidation, also known as debt consolidation, is when you take out one loan to pay off your others.

Benefits of Loan Consolidation

1. Less payments – if you are making lots of payments, consolidation will ensure that you’re only making one payment each month. Even if this payment is high, you’ll still avoid the hassle of managing several different loans and coping with marking down each lender’s payment due date.

2. Lower payments – with some loan consolidation, you can …

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Payday Loan Settlement

On April 15, 2011 By

It is an unfortunate truth that many people take out payday loans only to consolidate their debt on other payday loans. According to the Consumer Federation of America, payday loans are extremely expensive compared to other financial options like credit cards. For example, if you took a $300 advance on the average credit card repaid in one month it would cost you a $13.99 finance charge and an annual interest rate of almost 57%. A payday loan however will cost $17.50 in fees per $100 and if renewed one time $105 or 426% annual interest.

The average payday loan settlement lasts two weeks, but by this time some customers …

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Payday Loan Debt Assistance

On April 13, 2011 By

Payday loan debt assistance is always available to you as long as you work, are above a certain age and have a working bank account. The idea is you pay back the amount you borrowed on high interest. According to the Consumers Union on Payday Loans this interest can be at 911% for a one week loan, 456% for two, and 212% for a one month loan, which is pretty high. In fact it can be too high for most people who end up on the road to financial ruin. As the Consumers Union says, ‘Consumers who must borrow money this way are usually in desperate debt.’

A $4000 overnight

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