Payday Loan Consolidation – A Beginner’s Ultimate Guide
Are you currently dealing with the collection calls from payday loan lenders every day? Have you heard that there is such a thing as payday loan consolidation? If not, this blog post will guide you throughout the process and how GADCapital can help you be debt free.
What is Payday Loan Consolidation?
Payday loan consolidation is the process where a consolidator gets in touch with the lending companies (and independent payday loan lenders) to help negotiate a client’s outstanding loans and credit card debts to lessen the balance.
Consolidate your loans into one payment
This financial program involves giving the client a monthly payment plan that best fits their payday salary. With this process, the payday loan debt consolidation company will assign a consolidator to you.
How Do I pay off with payday debt settlement?
In line with this, a consolidator (also called as a debt negotiator and/or debtor) will do the debt settlement for you. The consolidator will be the one to pay off your multiple payday loans and credit card debts for you. The debtor will require you to open a separate account, and all you need to do is to fund it for consolidation purposes.
What will be my Monthly Payment Plan with a Payday Consolidation Service?
Your new monthly payment plan will be based on the following factors below:
- The total amount of a client’s debts
- How many payday loan lenders are willing to lessen the interest rates and annual percentage rates (APRs)
- Number of outstanding payday loans and credit card debts that the client has
- The client’s financial capacity – How much the client can pay for the debt consolidation loan; the amount of money funded in the separate account (for consolidation purposes only)
How do I get in touch with a reputable payday consolidation lender?
Given the following pointers, the main purpose of our payday loan consolidation program is to settle your debts. Here on GADCapital, we have a network of reputable consolidating companies. Our job is to connect you to a reputable payday loan debt consolidation company who will do all the work for you. The chosen company for you will combine your several payday loan payments to an all-in-one monthly payment plan.
Can you stop calls from collection agencies?
When you choose to consolidate payday loans and credit card debts with GADCapital, you will no longer answer collection calls from payday loan lenders every month. We will do all the debt settlement for you!
How Long Does it Take to Complete A Payday Loan Consolidation Program?
Typically, the process of payday loan debt consolidation programs takes anywhere from 6 up to 18 months. The timeline solely depends on the following factors below:
- The total amount of payday loan and credit card debts
- How much of a monthly payment plan you can afford
- How successful your consolidator is in negotiating debt settlement with your payday loan lenders
- Number of payday loan lenders that your consolidator deals with
- Number of financial institutions that you have a debt with
Stop the debt cycle and pay off you payday loans
If you are interested to hear more about how our payday loan consolidation program can change your financial situation, simply call GADCapital for a free consultation. We also offer free credit counseling for all our clients!
What is a Debt Consolidation For Payday Loans?
A debt consolidation loan is a type of debt refinancing service that allows borrowers to repay outstanding loan and credit card debts.
With that being said, debt consolidation loans are exclusively used for the personal finance that addresses a huge amount of debt of a certain client.
How to Qualify for a Payday Loan Consolidation Program?
If you apply now we can get someone to help you immediately!
Having said that, the entire loan request application process is done online. We only require our clients like you to submit the following below to qualify for our debt consolidation programs:
Requirements for Debt Consolidation Programs
|Borrower’s basic profile information||Just fill up our application form above!|
|Valid IDs (identification)||A clear photocopy of 1-2 government-issued valid IDs|
|Citizenship||Must be an American Citizen (whether by native-born, nationality, naturalization, etc.)|
|Proof of billing statement/s||Must submit proof of billing statement/s (electric bill, water bill, internet bill) showing the permanent and/or present address in the U.S.A. If a loan applicant still lives under your parents’ roof or you still don’t have proof of billing statements under your name, that is not a problem here on GADCapital. As long as you prove that the person’s name stated on the billing statement is related to you by blood (for instance, your mother, father, grandmother, grandfather, uncle, aunt, etc.) we will accept it. If not (say, you are living with your stepmother or stepfather, etc), you must prove that you truly live under the same roof with the person named on the billing statement. With that being said, simply submit a letter of authorization with signature coming from the person named on the billing statement.|
|Age||Loan applicants must be at least 18 years old (legal age in the U.S.A. to qualify)|
|Accounts under your name||Bank accounts, checking accounts, credit cards, debit cards, etc. under the loan applicant’s name. NOTE: Using another person’s account (even if the person is related to you by blood) is strictly not allowed here on GADCapital|
|Proof of employment||Loan applicants must submit a clear photocopy of an employment verification letter and/or certificate of employment (COE). With that being said, proving that you have a regular job is one of the most important qualifications when applying in a payday loan debt consolidation company. Simply put, how can you fund our debt consolidation programs if you do not have a sustainable job?|
|Proof of income documents||A clear photocopy of your most up-to-date pay stub or pay slip from your company (preferably 3 months worth of salary). If a loan applicant works at home (online job, remote and/or home based position), you must download and submit the transactions history and/or statement from the payment platform (such as PayPal, Upwork, etc.) where you receive your salary (preferably 3 paydays).|
What don’t I need to submit for payday loan consolidation?
Unlike other debt consolidation programs, GADCapital does not require loan applicants to submit complicated requirements (such as a clear photocopy of DTI and SEC-registered documents and BIR Income Tax Return files) just to receive approval for our debt consolidation loans.
How to Qualify even with Bad Credit Scores?
For loan applicants with bad personal credit scores? Fret not, as a matter of fact, people with bad credit scores can STILL qualify for our payday loan consolidation programs here on GADCapital.
Your credit score is not important your debts are
A personal credit score (also known as a credit score) is a numerical expression that is based on the level of analysis of a person’s credit statements. It is a score that represents the creditworthiness of a person.
In line with this, a person’s credit worth refers to the risk of lending and granting loans, credit cards, mortgages, among others, to a client/borrower.
In simpler terms, credit scores determine the level of risk of a person to pay his payday loans and credit card debts on-time (or the other way around).
Payday Consolidation lenders and your credit history
With that being said, payday loan lenders from various lending companies and credit card companies take a look at a client’s credit history to check his credit scores. This will help them determine if a client/applicant is creditworthy to grant unsecured loans or not.
If you have bad credit you should still apply for payday loan help
We accept loan applicants regardless of their personal credit scores (may it be poor, bad, and whatnot, we are here to help!). That is because of our commitment is to help hard-working Americans live a debt-free life and not to make your financial situation get worse.
Requirements and Qualifications for Applicants with Bad Credit Scores
|Credit history report||Certified true copy and/or a clear photocopy of the borrower’s credit history report to check the credit score. You can request for a copy of your credit score for free at your local state government. You can also request to get a copy of your credit score at the credit bureau and/or union; or at the major credit reporting companies in the U.S.A. These companies are the Equifax, Experian, TransUnion, among others (fees vary).|
|Debt limits and/or debt ceiling||To qualify for GADCapital’s debt consolidation loans, a loan applicant must owe more than $7,500.00 USD unsecured loans; this includes but not limited to personal loans, payday loans, credit card debts, cash advances, and the like. The loan applicant’s unsecured loans must approximately be 3 months behind the maturity date (due date of the loan).|
|Financial situation||Here on GADCapital, we prioritize loan applicants who are currently at rock bottom in their current financial situation. This includes but not limited to emergencies and other expenses that their remaining salary cannot sustain. To determine your financial situation, we perform a soft credit check on all our applicants.|
Some of the basic requirements (revert to the first table above) are also mandatory. Nevertheless, below is a table of the requirements and qualifications for people with a bad credit history report
Requirements and Qualifications for Applicants with a Bad Credit History Report
|Credit history report||A certified true copy and/or a clear photocopy of the loan applicant’s credit history report. You can simply request for your credit history report in the Federal Trade Commission (FTC) on-site. You can also get it online, visit their official website ftc.gov to know how.|
|Credit cards statements||As per the debt relief services, your debt negotiator and/or consolidator will request you to submit a clear photocopy statement of your credit cards to come up with the best monthly payment plan for you. Some consolidation services require loan applicants to yield their credit cards as a part of the payday loan consolidation program. This way, we teach you how to limit, lessen, and possibly prevent using credit cards.|
Why Choose GADCapital for your Consolidation Service?
GADCapital is a financial referral service company that is connected to the most reputable debt consolidation programs, lending companies, and independent payday loan lenders.In addition to that, listed below are a few reasons why you must choose to trust us with your consolidation service:
GAD Capital lenders are BBB Accredited!
GADCapital will refer you to lenders who are (Better Business Bureau) accredited. We are not scammers, we do not scam people. We help people improve their financial situation and get the debt relief services that they need the most ASAP.
When a certain business and/or company in the U.S.A. and Canada is enlisted on the Better Business Bureau, it means it has passed the accreditation standards. The accreditation standards are as follows:
- Good faith to the clientele
- Excellent effort to solve all the customer complaints
- Excellent effort to cater to the needs and requests of the clientele
- Excellent effort to answer all the clients’ queries, concerns, etc.
Payday Loan Collection agencies can make your life hell
We know how annoying and unbearable collection calls from lending and credit card companies can get.
Most of the time, these debts come from credit cards and unsecured loans. With these type of loans, a borrower is always expected to repay on their next paycheck. These are short-term loans which require you to pay for the whole lump of cash at a one-time payment plan. We know how difficult it is to repay all the debts that you have right now.
While such loans can be lifesavers up to a certain extent, it can ruin your life too. But don’t worry, GADCapital is here to save you, we have debt consolidation loans. We make the loan application process quick so you can quickly access our debt relief services ONLINE.
Payday Loan Consolidation with low rates?
Typically, loans come with high rates (interest rates and annual percentage rates). Interest rates are even higher with loans such as payday loans. These loans typically have annual percentage rates (APRs) that are ranging between 25%-45%. This translates to between 20%-38% of the total amount of the loan.
Some borrowers dread the inability to repay a loan on the time of the maturity date (due date) to hefty interest rates. With that being said, choosing GAD Capital for your debt consolidation loans keep you out of such a financial situation.
There is no need for you to worry, GAD Capital is here to save you from debt with our debt consolidation loans. Our consolidation service comes with low-interest rates and annual percentage rates. Simply do the math and we guarantee you that GAD Capital works for you and not against you.
GADCapital is Secured by RapidSSL
Secure Sockets Layer (SSL) is the protocol that gives a website data encryption. An SSL provides a highly secure and encrypted communication between the internet browser (such as Mozilla Firefox) and a website such as GADCapital.
Most of the time, if a website URL starts with an HTTP, it is most likely a phishing site. Websites with that URL are scammers that steal a person’s sensitive information. Having said that, the people behind the website might use your information against the law. So be aware and take a look if a site starts with HTTPS or not!
Given that intention, the GADCapital website is secured by RapidSSL to protect the data and information of our clientele from (that are in plain text and non-encrypted format) the following dangers on the world wide web (WWW):
- Protect data and information from being stolen by hackers
- Prevent data and information and data from interception
- And a whole lot more dangers on the World Wide Web!
To sum it all up, when you choose GADCapital, there is no need for you to worry about answering the neverending collection calls of your payday loan lenders.
We make our payday loan consolidation program as fast and convenient as possible. We offer a wide selection of debt relief services such as debt consolidation programs, debt consolidation loans, and a whole lot more!
With the help of GADCapital, we strongly guarantee that your life will get back to normal. Say goodbye to the daily collection calls, spam emails, snail mails from payday loan lenders demanding for you to pay (and some even threatening to sue you!).
With that being said, our job is to connect you to a reputable payday loan debt consolidation company. The consolidating company will offer you debt relief services whatever your current financial situation is.
Simply fill up our application form (see the Start Here form). Please feel free to call us today for more inquiries about our debt relief services. Our customer support is here to answer all your queries, requests, and even complaints 24/7.