These are not quick fixes, but rather long-term financial strategies to help you get out of debt.
When done correctly, debt consolidation can: There are several ways to consolidate debt, depending on how much you owe.
A rollover is where you pay just the interest and fees plus a roll over fee and you can now extend your loan for two more weeks and this is how the payday loan trap works.
There are three major types of debt consolidation: Debt Management Plans, Debt Consolidation Loans and Debt Settlement.
However, in some cases, it's a preferable option to bankruptcy because it allows you to pay off your debts without losing all your assets.
For more information on debt and credit-management options, have a look at our articles on debt settlement.
We have been consolidating payday loans in our programs offered to the consumers.
In the recent times, we are looking for a company that can offer the lowest rate of interest to the consumers and work with the payday loan companies.