By clicking on Get Debt Free!, I agree to the Terms of Use, Privacy Policy and ESIGN Consent

howHow Do Payday Loan Settlement Companies Work?

The idea is to convert loan repayments into a single monthly payment that fits your budget so that you can get out from under the burden of penalties and interest that keep piling on. Some payday loan settlement companies offer.

We start the process by allowing you to fill out a free online application that will ask for information about what sort of help you are looking for. Once that step is completed, a representative will review your file and put you in touch with suitable businesses in your area. If this sounds like a process that you want to utilize then start by filling out the free, online application right here.

Getting Assistance with Payday Loans Consolidation


Once Onepayday has put you in touch with firms in your area it will be your choice of which one to hire. The process will be similar with any of them as they all operate in the same manner. First, they will go over all of your liabilities with you to get a clear picture of how much you owe and to which companies you owe it to.

After those calculations are complete, your chosen business will discuss your monthly income and expenses with you to determine an amount that you can begin to set aside. You will then start depositing this pre-determined amount in a savings account that will be opened in your name by the consolidation company. This will be the start of reducing your obligations and satisfying your creditors.

How Can Payday Loan Consolidation Companies Help You Restructure and Settle your Borrowings?

Once a certain amount of money has been deposited into the savings account, your chosen company will begin to reach out to your lenders to negotiate with them. They will negotiate your principal balance as well as your monthly payment.

Debt settlement programs
Debt settlement programs aim

Ultimately, the goal of this company is to allow you to make a single monthly payment that will go toward paying off all of your debts and regain a good credit score. The key is having the lowest possible balance to pay off – and that’s how the negotiators help you. Choosing to get debt assistance is a benefit to individuals who are struggling for just this reason. They will make a cash flow analysis of your delinquent amounts owed, then see how they can merge those payments into something more manageable with lower interest rates.

These firms have contacts with lenders and have most likely made agreements with them in the past. They know how much of a reduction to ask for on your balance and they know how much they are likely to get. This is something you as an individual would not be able to accomplish on your own.

Timeline of Paying down Your Payday Loan Debt.time

Generally speaking, the process can last anywhere from 6-18 months from start to finish. Some of the variables that can affect the length of your payback period are,

1) The amount of debt you have

2) How many lenders you owe

3) Your monthly income and your monthly expenses

Once the 6-18 month process is over you can finally be free of your payday liabilities. The good news is that in most cases the interest on your  loans (that often hurts the most) will stop accruing once you start a payment plan.

That means no more phone calls, letters, emails or any other form of debt collection because your lenders will know that you are in the process of paying them back. If you have more questions about the plans please feel free to call our toll free number above or fill out an online application today on our website so that we can put you in touch with a representative to help you. It costs nothing and we will not ask for any payments.

When to Use Our Services?

While there isn’t a certain equation that can tell you whether or not you need us you can ask yourself a few questions that may help guide you to an answer. First, is your debt something that you can see yourself coming out of in the next 2-3 months on your own? In other words, does your current income allow you to make the necessary repayments so that it won’t be hanging around much longer than 3 months?when

If not, then you better gives a call or get in contact as we may be able to help you. Another question to ask yourself is: are you constantly dealing with phone calls, emails and letters from your creditors demanding payment? If so, you can relieve some of that stress by utilizing us to put a stop to those things. If you want to move forward with your life and pay off your debts then Onepayday wants to help. Fill out our easy, online application or call our toll free number up at the top of this page today to speak with someone who can put you in touch with consolidation companies in your area. Within a few minutes you could be on your way to saying goodbye to payday loan debt for good!

Apply Now

Payday Loan Settlement by

Copyright © 2019 | All Rights Reserved are all trademarks of and have been incorporated into this site