Can Payday Loan Consolidation Help Me?
Yes! If you are struggling with large amounts of payday loan debt then you may be in need of a payday loan consolidation. Here’s how it works – first we’ll determine how much you can pay towards your payday loans each month. Next, that amount is deposited into a bank account in your name each month. Once there is enough money in the account, BridgePayday will contact your payday lenders to start negotiating a settlement on your payday loan balance.
How Much Will I Pay Each Month?
Your monthly payment will be based on your overall payday loan debt amount in addition to what you are able to pay. Ultimately, BridgePayday wants to free you from the multiple payday loan payments you can’t afford, and we achieve this by crafting a plan with a single affordable payment.
Will All of My Lenders Communicate with You?
BridgePayday has relationships with a large number of payday loan lenders and their respective collection agencies. Lenders are not obligated to work with us, but the majority of them realize that it’s in both parties’ best interest to find a settlement rather than to go into the collection process.
So I Won’t Have To Pay Off My Full Loan Amount?
Unfortunately, we can’t guarantee that because lenders are not legally required to negotiate with us or agree to any settlement amount.
How Long Will This Process Take?
Usually, anywhere from 6 to 18 months, but it truly depends on the amount of your debt, what kind of monthly payment you can feasibly make, and how successful BridgePayday is in negotiating settlements with your payday loan lenders. If you would like to call us for a free debt consultation, BridgePayday can give you more specific estimates on what a payday loan consolidation can do for you.