The Debt Consolidation Process
Consolidating payday loan debt or any other short term unsecured debt is a program that we initiate routinely at BSI. As a non-profit organization that is A+ rated from the Better Business Bureau, our representatives will assist you through a fast and stress-free process to an improved financial situation.
What Can I Expect When Consolidating My Debts?
Debt consolidation rolls multiple debts into a one lower, more manageable payment. Typical debts that can be consolidated include high-interest credit card bills and other unsecured or personal loans. A debt consolidation should result in an overall lower interest rate and stoppage of any late fees or penalties (for payday loans), all of which will help you reorganize your finances so you can pay off current debts at lower payments and faster terms.
280%+
Average Annual Interest Saved
Our payday loan consolidators save a tremendous amount of interest (APR) with our program.
1 Day
Average Time for Approval
For those who qualify, we work quickly to get you on the right track towards financial improvement.
6.4
Average Debts Consolidated
Whether you have only one troublesome loan or many, our program will accept all or most of your debts.
“The BSI representative was pleasant and helpful, he got me into the program and within two days I stopped receiving late calls and my new monthly payment is easy to handle. I can finally rest at night knowing my salary is mine again to take care of my needs. I highly recommend this program!”
Johnathon S.
Take the First Step
All communication with BSI is confidential. As a first step, you’ll submit a list of your payday loan debts to be consolidated with one of our counselors, which will allow us to formulate a program and payment plan. This individualized plan specifically details what type of repayment arrangements each of your creditors will accept and consolidates all payments together into one affordable monthly amount. After BSI receives your first monthly payment, all creditors will be immediately notified that you have enrolled in our debt management program.
Is this the Right Time for Me?
The general consensus is if you’re repeatedly having to renew a payday loan or you have more than one payday loan, you all already in what we call the “payday loan dilemma”. Often times this occurs around a personal financial hardship such as the loss of a job, a change in family dynamic, or the loss of a family member.
Another sign of needing to take this first step toward consolidation of your payday loans is if your repayment issues have mounted to a point where you are accruing late fees due to your inability to make payments. Often times this causes your mental well-being to be negatively affected.
Regardless of which company you choose to relieve your debts, you’ll need to provide documentation of creditors, balances, payments, and other loan information. This will help structure your loan relief program properly so you can gain maximum benefit of your enrollment.
Remember, with every first step is a last step, and in this case that is complete financial freedom from the current debts that are weighing you down. The BSI advice is to be careful going forward, so you do not fall into the same circumstance in the future.
Taking Action with BSI
If you are struggling with repayment of payday loans, you may benefit from contacting us. A BSI representative will confidentially conduct an evaluation and present a debt repayment solution that will offer multiple financial benefits. After our program is explained to you, you will have the choice to proceed or pass on enrollment.
At BSI, we believe that knowledge is helpful in making wise financial choices, and we will be happy to explain our programs and answer any questions you may have to help you make the right decision for yourself and your family.