The process is simple

  • once you select a payday loan settlement company they will go over the fees with you and find a monthly amount that you can pay into a new savings account that they will open in your name.

  • You will deposit a certain amount into that account each month, your payday loan settlement company will begin negotiating settlements with your creditors.

  • This process can take anywhere from 6-18 months depending on the amount of debt you have and the amount of money you can deposit into the savings account each month.

Payday Loan Debt consolidation

  • With payday lone debt consolidation the consideration is the income that you make currently rather than past history. As long as you have steady income to pay off the new loan you can consolidate all, or at least many, of the debts you owe into one manageable payment. With less actual bills to pay each month you can begin to work yourself out of debt one payment at a time and within a short time clear off all your debts.