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No Fax Payday Loan Consolidation

No Fax Payday Loan Consolidation

I would like to consolidate into one loan with a No Fax Payday Loan. Can you help me?

I have owe about $1,000 in payday loans. I would like to consolidate into one loan with a No Fax Payday Loan. Can you help me?

Mark Cappel
By Mark Cappel
Jul 13, 2007
IN THIS ARTICLE:
  • Consider a p2p loan as an alternative to bank financing.

A consolidation loan could be an option, but if you had the income and credit to qualify for one, you likely would not have sought a payday loan.

Once you are behind on a payday loan, your options are very limited. A first step is to check with your state's financial regulator to make sure the loan you took out was legal in your state. Some states don't allow online payday loans, for instance, though that doesn't stop lenders from doing business in the state. There are also states that cap the total amount of interest you can be charged over the life of the loan. Make sure that you don't pay more than you are legally requited to pay.

Another resource you may want to explore is a peer-to-peer (p2p) loan. P2p loans are, as the name suggests, loans between people that are mediated by a third party. In some p2p loans, the borrower writes a proposal and investors choose whether to fund the loan. In other p2p loans, an intermediary funds the loan, combines the loan with others, and sells shares in the loans to investors. Two companies offer peer-to-peer loans: Prosper and Lending Club.

Editor’s note

Comments on this page are closed. See Payday Loans to learn how to handle payday loan collections. See the Bills.com payday loan resources for California, Florida, Illinois, Massachusetts, Missouri, New York, Texas, and Virginia to learn more about payday loan laws in those states.

Consider a p2p loan as an alternative to bank financing.

Bills.com also offers more information on the Payday Loan Information page, and has answered reader questions about payday loans in California, Florida, Illinois, Massachusetts, Missouri, New York, Texas, and Virginia.

I hope this information helps you Find. Learn & Save.

Best,

Bill

Bills.com

15 Comments

JJackson Smith, Sep, 2011
Are you one of the 1000's of Americans suffering from payday loan debt? Do you need professional help to payoff high interest rates and getting out of payday loan debt? If so, then relief is the solution. We can help you consolidate your payday loans into a lower monthly payment and help get you out of payday loan debt.
cchris warner, Sep, 2011
what do i need too do about these pay debts
MMartinez jose , Jul, 2011
Payday Loan help is of great help when you are fed up with your Payday Loan Debts. These relief programs would give you certain tips and suggestions which would help you to get out of these Payday Loans.
NNODSS ORG, Jun, 2011
You can have great help with this payday loans in case of emergency even though they come with heavy interest. As these loans are easy to arrange you could get it easily.
jjackin beck , May, 2011
Are you one of the 1000's of Americans suffering from payday loan debt? Do you need professional help to payoff high interest rates and getting out of payday loan debt? If so, then we can help you consolidate your payday loans into a lower monthly payment and help get you out of payday loan debt.
JJesse Phillip, Mar, 2011
In today's economy millions of Struggling Americans have turned to payday loans, as a quick fix, in order to make it to their next pay day.They're easy to obtain, money is deposited into your bank account. Payday and Cash Advance loans are very accessible high risk loans with typically very high interest rates designed to keep you paying fees upon fees making it impossible to pay down the principle balance resulting in the payday loan trap.