No Fax Payday Loan Consolidation - The Bills.com Blog

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No Fax Payday Loan Consolidation

Question: I have owe about $1000.00 in payday loans. I would like to consolidate into one loan with a No Fax Payday Loan. Can you help me?

Answer: There are several different types of consolidation loans, but the one that will best suit your situation depends primarily on whether or not you own a home and your credit history. Also, the amount of your debt will be aconsideration.

Since you only owe $1000 of debt you with to consolidate, a consolidation loan secured by your home is probably not an option. However, there are several other options you should consider. First, you could look into an unsecured personal loan to consolidate your debts–check out the loans section of the Bills.com Savings Center for unsecured debt consolidation loans that may improve your situation. However, if your credit history is less than perfect, you may have difficulty

finding a lender willing to extend you credit, and if you do find a loan, you should expect to pay a premium in interest. Considering that most payday loans have effective interest rates well over 100% per year, almost any unsecured loan you obtain should save you a significant amount of money in interest payments.

Another possible loan resource you may want to explore is www.Prosper.com, a site which puts private lenders in contact with private

borrowers, and facilitates loans between them. A private lender may be more willing extend you a loan than a traditional bank.

For more information about payday loans, I encourage you to visit the Bills.com Payday Loan Information page at http://www.bills.com/payday-loans/ I hope we can help you find a solution to your debt troubles, and help you Find. Learn. Save.

Best of luck,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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