OAKLAND PARK, Fla. (PRWEB)
October 20, 2021
National Payday Loan Relief celebrates 15 years since they started the Payday Loan Consolidation Program. This program has helped thousands of Americans wallow in payday loan debt regain their financial freedom. Through this program, the company takes responsibility for settling an outstanding payday loan on behalf of the customer. This allows a customer to repay one or more loans simultaneously and leave a single loan with new terms and rates.
âWe have been supporting our clients for fifteen years and helping them regain their financial freedom. We are delighted to take this step which would not have been possible without our valued customers. We are also grateful to all our partners for their unwavering support, and we promise to do even better in the future. Ours is a promise of excellence, and negotiating with lenders to find a solution is what we do best,â said Steven Harris, current president of National Payday Loan Relief.
Payday loans are a major contributor to the US economy, and most households have survived on a payday loan at some point. They are quick and convenient and are a good source of cash in an emergency. However, these loans are expensive and can lead the debtor into an endless cycle of debt. Some of the disadvantages of payday loans include:
- They have ridiculously high interest rates
- They don’t build your credit score
- Due to their ease of application, customers are trapped in an endless cycle of debt
- Lenders can access customers’ bank accounts and divert their money or freeze them
National Payday Loan Relief understands the deep waters of payday lending and helps clients get through it with the Payday Loan Consolidation Program. They do this by combining all loans owed by the customer and repaying them in one settlement. The client only has one loan to think about and can even obtain the new loan at a competitive interest rate. Additionally, the new loan may have a longer repayment period, giving the customer a grace period.
Payday loan consolidation is one of the most convenient ways to relieve debtors of the burden of multiple payday loans. Clients with multiple outstanding payday loans high interest rates combine loans and consolidate them into one loan. This process is known as loan consolidation. The process reduces the total amount payable for each loan and also reduces monthly payments.
âPayday loan consolidation is a very similar process to other debt consolidation programs. Rather than paying off multiple high-interest loans, you pay them off with funds loaned to you at a lower interest rate. While you’re technically borrowing again, you’re doing it at a much more manageable interest rate,â Harris explained.
A personal loan consolidation is the bridge that most debtors use to access their financial freedom. National Payday Loan Relief is rolling out this program in four easy steps. Once the customer has signed up for the program, the company will assign them a professional financial advisor to collect all the vital data regarding their payday loan. These include loan amount, interest, payment terms, income and other bills.
Second, the company addresses the lender and takes care of the communication between the lender and the debtor. This step also involves persuading the lender to waive any penalties and work out a flexible monthly plan.
The third step is a meeting between the client and the loan consolidation company to work out a monthly repayment plan. The plan is based on client income, payday loans and loan interest.
Finally, National Payday Loan Relief will walk the client hand in hand until the payday loan is settled. Clients are required to meet their monthly payments for the program to be successful.
National Payday Loan Relief is a payday loan consolidation company that helps clients regain financial freedom through – debt relief programs such as payday loan consolidation, debt settlement, credit card debt relief and financial advice. The company’s mission is to provide the best payday loan debt elimination option to consumers struggling with debt.
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