Bad Credit With Online Payday Loans

By Shawn Lee Martin

bad credit with online payday loansWhen you get on the bad side of any debt it has repercussions, but less and less lenders are looking at bad credit with payday loans as a factor in lending money.

They understand exactly how easy it is to get caught in a payday loan trap.

You can find out what a payday loan trap is by checking out our What Is A Payday Loan Trap article.

How many times has someone with out of control payday loan debt tossed aside the idea of consolidating all of that bad debt and borrowing the payoff from another lender simply on the idea of not having good enough credit?

If all a person has on their credit history is a bad mark because of online payday loan debt, they should really check out their credit scores and see just where they are sitting.’

They may be surprised!

Do you have out of control payday loan debt and bad credit?

Click here to see how we can help you!

Borrow Money?

So you are now asking yourself, is this site telling me to borrow money to pay off my out of control payday loan debt?

The short answer is no, we are not, and yes we are. 🙂

I know, that makes no sense at all does it?

Let me explain!

You see, while we do not condone anyone borrowing another cent until all of their out of control payday loan debt is satisfied,  we do recommend an option for you that does not actually borrow money, and you do not need to qualify for it, but it is called a payday loan consolidation loan.

We will cover this in a bit!

Credit score good?

So did you go check your score?

How good was it and did it surprise you?

Many people are just amazed that their score can still be right up there within good standing or right below good status even though they are in default with the payday loan debt.

Another point many people do not understand is that even if their score is a bit below the average good credit score if all they have going against them is the payday loan debt it will drop off and their score will rise rather quickly one this debt is paid in full.

Another great reason to check out how we can help you with that debt!

Again, more on that in a minute.

Right now lets talk about why these lenders do not give much credence to these payday loan companies.

Online Payday Loan Companies

These companies have got to be the most ruthless, dishonest and downright evil companies I have ever dealt with, and that is a pretty heave statement there!

First and foremost, they are set up for complete failure by the borrower, and they are also set up to make maximum profits for the lender right from the start.

They have a built in payday loan trap with the interest only payment set up every due day, meaning you must contact them within three business days before your payment is due and let them know how much to take off your principle amount owed.

If you do not do this the company will only deduct the current interest payment and add a new one to your total due on your next payday.

This information is covered when you take out the loan but they make sure they cover it so fast most people miss these instructions.

Just missing it once means you have paid double interest for your loan.

And it adds up fast!

Most people at the time of this explanation are thinking what they are going to do with the money they are getting deposited into their account many times within the same day they are taking out the loan instead of paying attention to the loan information the lender is explaining to them.

The borrower is a bit distracted, and these companies know it!

They will also work regardless of the law.

Many states are making these online payday loans illegal but these companies will ignore the state laws and continue collection activity non stop without a third party intervention, right up to and including changing the name of the company with your bank!

That is where we come into the picture.

Remember earlier I said we would cover payday loan consolidation loans a bit later?

Let’s do that now!

 Payday Loan Consolidation Loans

We here at Help With Payday Loan Debt offer a payday loan consolidation loan that everyone who has a steady income will qualify for and it does not come with any interest payments!

It will strictly pay off your negotiated payback amount with your payday loan lenders in one easy to make bi-weekly or even monthly payment, with all of that payment applied to the debt, not the interest.

This loan that is not a loan will stop harassing phone calls, stop and negotiate your interest owed, and condense multiple payday loans all into one easy payment.

To find out just exactly how we can help you we suggest a quick toll free phone call at 1.877.280.5100 or you can fill out our form for a free no obligation quote!

I hope this article helps you understand online payday loan companies and how they can affect your credit scores, and just what you need to do to get rid of them efficiently!
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Do you have out of control payday loan debt and bad credit?

Click here to see how we can help you!


4 thoughts on “Bad Credit With Online Payday Loans”

  1. I heard somewhere google is putting a ban on payday loan advertising. I hope that more people become hip to the way these payday loans work. I’d never want to borrow money from somewhere and then when I finally got my pay check to be broke again because now I owe someone, messing up my credit, more debt, no thanks lol

    1. Hi, Geleesa!

      Yes, a major victory for the average american who gets caught in these traps!

      Good for Google!

      We will be releasing a post tomorrow on this very topic so be sure to check back and read it!

      You are wise to avoid these loans,nice choices you are making!


  2. Hello there Shawn,

    I think this a predicament that many people have fallen into in the past and many millennials may find them selves in at this exact moment. I am embarrassed to say that I have some out standing debt at the moment as well. It is comforting to read your article and see that there is a good plan of action to help people in this situation with payday loan debt. Thank you for the help here and if I have anymore questions I will be back!


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