If you are one of many consumers who are stuck in the cycle of payday loan borrowing, it is not uncommon to feel frustrated, hopeless, and alone. All too often, many avoid getting payday loan assistance because they fear being rejected or are too embarrassed to get help.
BSI is a non-profit, payday loan consolidation organization that cares about its customers and wants to help struggling consumers through their payday loan assistance programs. With the help of a loan relief plan, you’ll be able to pay down your debt at a much lower rate and improve your financial health faster.
How Does Payday Loan Assistance Work
Most consumers do not realize that they will likely qualify for a payday loan relief program, even if they have defaulted on payments in the past. The first step is to find a reputable consolidation company and set up a free, no obligation consultation. A qualified representative will review your personal and financial information to discuss a program that suits your needs.
The most common relief programs consolidate all of your unsecured debt into a single loan, with a lower interest rate that is fixed, with a monthly payment and period of time that is certain. Once you enroll in a payday loan assistance program, the original payday lender rate, late fees, and interest fees are usually halted, and you will only be responsible for the new monthly payment. The following types of debt are typically included in a consolidation relief program:
- Payday Loans
- Credit Cards
- Medical Bills
- Department Store Cards
- Unsecured Personal Loans
Is Payday Loan Assistance Better Than Filing for Bankruptcy
Just like most other financial decisions, it depends on each individual’s personal circumstances and BSI advises seeking legal advice while choosing between bankruptcy or loan relief. However, it is generally recommended that filing for bankruptcy should be a last resort as opposed to a go-to-solution. One of the most serious consequences of filing for bankruptcy is that it will tarnish your credit report for up to 7 years, making it difficult to obtain financing when needed. Consolidation and relief programs are usually an alternative that carry less consequences.
Payday loan assistance might be an optimal solution if you are in need of debt relief. It is normal to feel discouraged when you are caught up in a vicious cycle of debt, but there is a way out. Loan Assistance Programs are a beneficial solution to an all too common problem:
They have high success rates: most consumers will qualify and will benefit from a debt relief program
Relief plans are simple: the new plan will include a fixed, single payment with a lower interest rate over a set period of time
They will restore your financial health: lower monthly payments and no more late fees, penalties, harassing calls or automatic payments to creditors
If you are one of the many consumed by what feels like an endless cycle of debt, BSI can help you to take back control and get proper guidance regarding payday loan assistance.
BSI is a BBB rated company with an A+ rating. We are a non-profit payday relief and loan consolidation company with a national reach. We invite you to check for availability in your state then contact us for a free evaluation of your current payday loan debts and explanation of how you may benefit from our consolidation program.