Hello, I’m interested in consolidating payday loans after the deadline. I have seven in total, for a total amount of $ 20,000. I am in databases such as BIK and KRD, so my credit history is not very good.

Do you offer any help to those in debt? I do not know how to pay them back, because they call me that if I do not pay the required amounts, the debt collection company and then the bailiff will take care of the matter.

What should I do? how to get out of payday loans? I am asking for advice – I care about the time.

I have already written many times that payday loans are a very dangerous financial product that should be handled with care and caution. Especially if there are several payday loans – just like in your case.

First of all, you should not allow these layers to build up, it is a very good rule to take another payday when we pay the previous payday, otherwise, the payday loop may come faster than you think.

Repayment of several payday loans is not easy at all and it is not difficult here to delay their repayment and loss of financial liquidity. You must know that loan companies are already charging you penalty interest for late repayment, so your debt increases every day, which with seven payouts generates quite high debt servicing costs, which grow almost avalanche!


Book your payday loan help now

The solution you are writing about, ie payday loan help via consolidation of payday loans, is a good way to get out of payday loans and stop an avalanche of side costs, which are constantly increasing with each passing day.

The loan for the consolidation of payday loans consists of the repayment of all your payday loans by the new lender, after which you, as the borrower, instead of paying several payday loans separately, you will have one debt and one installment to pay, and this will be either a consolidation loan or a consolidation loan (in depending on your credit standing and credit history).

Paying one installment per month for all your debts in payday loans is certainly a huge relief, especially if the consolidation installment is ideally suited to your financial capabilities (ie creditworthiness).

Thanks to the extended loan period, the consolidation installment does not have to be high, thanks to which your home budget will finally start to fall together. However, I warn you: whether it will be a consolidation loan or a consolidation loan (usually more expensive than a bank loan) this “lifebuoy” in the form of a consolidation loan carries some costs, and sometimes even considerable.


Consolidation in a bank or a loan company?

Know that for debtors who are in a really bad life and financial situation, using a bank loan to consolidate payday loans becomes unattainable.

Banks are very picky about the requirements they set for their borrowers. Therefore, if you have poor creditworthiness or have delays in paying out payday loans that have already been noted by BIK, then you have no chance of a bank consolidation loan.

However, loan companies, ie the non-banking sector, come to the rescue. Here, the requirements for borrowers are certainly lower, but on the other hand, however, the costs of the entire operation (consolidation of payday loans) may be higher than at the bank.

But what if you have no choice? you don’t have time to improve your credit standing and credit history, because you have to act here and now.


Who else can help pay off payday pay?

Not only loan companies can help you with your debt, but it can also from Iwona Wendel’s guide: 12 steps to freedom, or how to get out of debt and enjoy life. This e-book is the fruit of success in getting out of debts of up to half a million zlotys, which Iwona once fell into.

The e-book has 92 pages, thanks to which you will look differently at debts and it will be easier for you to develop a debt-relief strategy, in addition, along with the e-book you will receive:

  • Spreadsheet to help you plan your installments
  • A sheet that helps you set your goal
  • A sheet facilitating debt inventory (a very helpful sheet)
  • A sheet that makes it easy to list all your creditors
  • 30 days access to all letter designs (great savings)
  • Email address for private consultation on getting out of debt

From what I’m looking at, a 50% promotion lasts (last day), so instead of paying almost $ 50 for an e-book and additional bonuses, you’ll pay only half. So I think it’s worth to get this promotional campaign.