Debt Settlement

One question that is frequently asked by clients is how Payday loan consolidation can assist them to get out of debt by debt settlement. Please note that the concept of debt settlement is not the same as that of debt consolidation and debt management.

Just in case you’ve stumbled upon this page and you’re not familiar with the concept of debt settlement then you should know that this is an approach that is used by debt consolidation companies to help their clients get out of debt by negotiating with the credit companies for a lesser settlement than the amount owed by the client which will be paid over a given time frame in small manageable installments.

It should also be noted that Payday loan consolidation reserves payday loan debt settlement programs only for people with massive debt and who are on the verge of filing for bankruptcy as a last resort to get out of debt or get debt relief.

One question that is frequently asked by clients is how Payday loan consolidation can assist them to get out of debt by debt settlement. Please note that the concept of debt settlement is not the same as that of debt consolidation and debt management.

 

How is Debt Settlement Done?

Negotiation with Your Creditors

If you’re in overwhelming debt and you’re toying with the idea of filing for bankruptcy then you should know that Payday loan consolidation can intervene on your behalf to your creditors to get you a suitable payment plan that is within your means.

More often than not, debtors are unable to pay their loans as the interests pile up. One charge after the other accrues to the total obligation of the loaner, disabling him even more to pay for his or her obligations. In this case, we undertake the task of negotiating with our clients’ creditors to arrive at a payment scheme that is favorable to you.

Aside from this, once your creditors understand that you’re planning to file for bankruptcy they will be ready to settle for a lesser amount than what is originally owed to them since they know that they would end up with nothing if you pursued such a drastic action.

This is a debt relief that is favorable to you, and your creditors as well. As you should be able to pay off your debts nevertheless.

 

Low Settlement Rates

Payday loan consolidation specialists can use their connections and expertise to negotiate a very low settlement on your behalf that you will be able to pay with ease. Depending on the amount that is owed, you can have your debt cleared from a period of one week to even four years.

When we speak of low settlement rates, this does not mean putting the creditors to a losing end as of course, they would not allow that. What we do is to balance the scale, and make sure you get the leverage that you need to pay off your debt. Other debt settlement companies promises to help you pay off your debt in the shortest span of time; but most of the time, the clients cannot afford. Now, what we do is negotiate for the extension of the period of payment of your obligations, and at the rate you can afford as well.

 

Scraping Off Late Payment Fees

Aside from preventing you from filing for bankruptcy by reducing your credit to the lowest minimum possible, Payday loan consolidation specialists will also negotiate for the late payment fees to be scraped so that the pending charges are not added to the negotiated balance.

Late payment fees policies are employed by your creditors to encourage debtors like you to pay off their debts as the loan matures. However, creditors may fail to do so, incurring in late payment fees over time. The sad thing is that these late payment fees adds up to the burden of the creditor big time. We, at Payday Loan Consolidation, intends to have these burdensome fees scraped off from your obligation. Having able to rid of these fees may mean lower settlement rates too; accruing to the debtor’s benefit.

 

Settlement Against Possible Legal Actions

Legal action – Payday loan consolidation will negotiate with the lenders on your behalf to dissuade them from taking any legal action meant to punish you. By studying the consumer protection laws and the terms agreed upon, Payday loan consolidation can bring to a halt any harassing lawsuit that may be filed.

Know that your creditors have their rights; and they have the right to sue you in court for not paying off your debt at such required period. However; know that you have your rights too. But sadly, you may not be well aware of the protection that the laws afford you as well. In availing of our debt settlement service, we make sure that your rights as the debtor and as the consumer is nevertheless considered. We should arrive at settlement that’s recognized and honored by the law.

Subsequent Credit Repair

Of course, once a debt settlement agreement has been made and debt help received clients need to be aware that their credit score will not be the same. Once you overcome your financial crisis you may have a difficult time obtaining cash advancements from lending companies in the future. Payday loan consolidation can help you with credit repair services to help you restore your credit score.

Aside from aiming to become debt free, you should nevertheless enjoy a clear credit history. Know that with a bad credit record, you may not be able to obtain loans in the future, even if during your dire straits. Do not let a bad credit record hamper you from having the funds that you may need, allow us to provide you with the subsequent credit repair service that we offer.

Student with debts can obtain student loan debt relief from debt settlement programs. Need more information about our services? Then read through our site and when you’re ready to get payday loan help just fill out the forms, request quote and we’ll get back to you in the shortest time possible.