There are ads being run all over the radio and tv suggesting people get consolidation loans by combining their payday loans and all their other debt into one loan but does payday loan debt consolidation work on its own and would it be better to do it that way?
A bank or credit union debt consolidation loan is completely different from a payday loan consolidation loan and if you know the differences between the two you can save a ton of money by accomplishing the same goal of eliminating your PLD! (PLD is payday loan debt for short)
It is important to understand how consolidation loans work in different situations. let’s find out if indeed it would be better to isolate that payday loan debt!
Many people who have raced out to cover their heating bills, holiday bills, or any other immediate emergencies that might have come up and found them short on cash are now scrambling to stay above water with multiple payday loans and the likes.
Here is your guide to getting out of payday loan hell, and how to consolidate debt with bad credit, all in one post!
When those stars come on the TV and tell you all you need to do is make $800.00 a month and you can get money deposited into your account in 24 hours they really are telling the truth, and it is so easy!
What they do not tell you right up front is just how much you will be paying for this money and how hard they work to collect it! Now here you sit with your bank account bouncing, your payments exceeding your paycheck, and bad credit keeping you from getting a conventional loan to top it all off!