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.
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.