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Debt Consolidation Loan - Your Financial Future

Tired of having lots of debt and large monthly payments? Then it’s time to consider debt consolidation. PaydaySay offers unique solutions for your financial troubles. It also provides you with an opportunity to achieve a debt-free future through such loans offered by our cooperating partners. Just compare lending companies online!

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Best for Fair Credit

Curadebt

5.0

this rating is our subjective opinion


Minimum Credit Score

680

APR Range

59% - 199%with autopay

Loan Amounts Up to $100 per day
Fixed APR Does not charge interest
Loan Terms Until your scheduled payday
Frees No late fees ororigination fees
Time to Recive Funds Same day funding avalible
Recommended Credit Score No credit check required
Read the full review: Earning Personal Loans
Best for Fair Credit

Access debt relief

4.5

this rating is our subjective opinion


Minimum Credit Score

680

APR Range

59% - 199%with autopay

Loan Amounts Up to $100 per day
Fixed APR Does not charge interest
Loan Terms Until your scheduled payday
Frees No late fees ororigination fees
Time to Recive Funds Same day funding avalible
Recommended Credit Score No credit check required
Read the full review: Earning Personal Loans
Best for Fair Credit

American debt enders

4.0

this rating is our subjective opinion


Minimum Credit Score

680

APR Range

59% - 199%with autopay

Loan Amounts Up to $100 per day
Fixed APR Does not charge interest
Loan Terms Until your scheduled payday
Frees No late fees ororigination fees
Time to Recive Funds Same day funding avalible
Recommended Credit Score No credit check required
Read the full review: Earning Personal Loans

Consolidating Debt: Consider the Benefits

Debt consolidation means using various debt assistance plans, which combine multiple loans, debts, or payments. For example, your credit card debit can be easily consolidated with our assistance.

In other words, debt consolidation is an online process where you apply for a new loan that helps you pay off your existing debts. That way you can choose the best loans to consolidate your debt online!

Before you complete the application form and push the final button, carefully consider everything. Find out more about your monthly payments, loan terms, and interest rates. Everything is interrelated here, and changes to one factor will mean changes to the others. When you consolidate debt with online loans, you must be 100% sure. PaydaySay is ready to assist.

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3 Steps to Request Funds Online

1

Fill out the Form

  • short and easy form
  • safe & secure
2

See If You're Approved

  • real-time request review
  • large network of lenders
3

Check Your Account

  • convenient borrowing option
  • money into bank account

Strong benefits you can use

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These tips may be helpful for making the final decision on whether to seek for a loan to consolidate debt:

Loan SitesConduct careful research Different financial institutions offer various repayment terms and loan interest rates.

Loan SitesDetermine the realistic amount you are ready to pay monthly on a new consolidated loan.

Loan SitesConcentrate on the existing debt; do not get involved in some new credit opportunities.

The right financial plan will not only help you combine most, if not all of your multiple obligations, but will also make you more organized and focused in dealing with your monthly financial obligations.

Receive Up to $5,000 for Your Needs

Besides this, you should have an understanding of these financial procedures. After your multiple debt consolidations, you will have a single payment to make monthly, but it will not necessarily cause lower costs or a shorter term. Check all the benefits and drawbacks of the plan and decide whether the option is right for you personally.

Apply now to check the possible options.

What is an unsecured loan?

An unsecured loan definition tells us that this lending solution can be used for the short term and it doesn’t require any collateral to secure the debt. It presents fewer risks to the borrowers and has become widespread because of that.

What Is Private Student Loan Debt Settlement?

When a student or his family can’t pay off a debt, they usually decide to write a debt settlement private student loan letter. If this decision comes to your mind, it should be the last step in your attempts to pay off the debt.

You should keep in mind that if you have enough money (sufficient income) to pay off the debt, you will never qualify for private student loan debt settlement. But if you are in default on your debt, then your lenders might consider your request.

Debt settlement for private student loan differs from the federal loan debt settlement. APRs usually differ from lender to lender. Therefore, terms, conditions, and amounts of the settlement also differ. Still, the settlement of private student loans is more flexible. For instance, federal agencies usually require to pay off the whole sum in one lump during 90 days after a settlement is approved. Private lenders might be more permissive.

Here are the reliable private student loan debt settlement companies that might help you to reach a beneficial outcome:

  • SoFi with rates ranging from 2.56% to 6.74%.
  • Darien Rowayton Bank with higher APRs – 3.64% – 7.20%.
  • Common Bond – APRs: 2.56% – 6.74%.
  • ELF Bank with the lowest rates – 2.10% – 6.69%.

All aforementioned banks specialize in undergraduate and graduate loans.

What Do Debt Management Ratios Measure?

Debt management ratios measure someone’s financial condition. They show the ratio of a company’s debt to its total financing. Usually, banks and other lending institutions turn to debt management ratios analysis to estimate borrower’s creditworthiness and suitability for a loan. It refers not only to large firms and to corporations. Lenders use debt management ratios when they work with individuals also.

Debt management ratios show the extent to which a firm’s managers are attempting to magnify returns on owners’ capital with financial leverage.

Debt management ratios are a sort of indicator of the individual’s financial health. The formula for evaluating a debt management ratio looks like:

It helps to show a number of company’s assets financed through debt. A higher value of a debt ratio shows increased liquidity of the company. It means that a company manages to fulfill its current obligations through its liquid assets.

Still, each lender has its own guidelines when it comes to calculating the debt management ratio. Certain factors affect the result: amount, a length of the repayment period, type of the loan (secured or unsecured). Therefore, you should ask your lender about certain details beforehand.

What Is the Best Debt Management Software?

There are professionals, who help to manage debts. There is also debt collection management software that helps to do it independently.

Fortunately, many people can get out of debt independently. They only need a guide that would help them to optimize data and brainstorm the most effective ways of recovery. Software for debt management is a good guide.

There are top three tools for debt management:

  • Ready for Zero – one of the simplest debt recovery management software that creates a debt management plan after you link all your debt accounts. It tracks your progress and provides two ways of recovery: the highest interest method first and the encouragement of the debt snowball method. This is a sample of debt-free management software.
  • DebtQuencher – provides a 3-steps plan to enter credit card balances, pick a payment method, and follow the payment plan. This software is paid and will cost you $5 for one visit.
  • DebtWise by Equifax. Nothing special – software will develop a debt management plan but with its help, you can automatically update your Equifax report. You automatically get access to your credit score, credit report, and credit report simulator. The price is $15 per month.

Are unsecured loans a good idea?

They can be a good idea provided that you use the option wisely. An unsecured loan requires a borrower to be responsible, request only the exact amount necessary to remain financially afloat, and repay the debt on time so that the credit history doesn’t get hurt.

Do unsecured loans hurt your credit?

If you don’t pay the debt off on time and in full, you may end up having a lower credit rating. On the other hand, if you are accountable and take an unsecured loan, it may help you rebuild credit score and boost your credit history.

Why does an unsecured loan have a higher interest rate than a secured loan?

Whereas loans with no collateral needed have higher fees, secured loans are more affordable. It happens because creditors face higher risks of default from unsecured options. Not every lender wants to take such risks, so they have to put higher rates.

What is the difference between a secured and unsecured loan?

A secured lending option requires a borrower to back it up with some valuable assets such as their house or car. An unsecured loan offers a chance to obtain quick funds with no collateral, so consumers often opt for this solution.


Kathryn Pomroy
Arthur Goldgaber

Arthur Goldgaber is a financial writer and editor. He works with asset management firms and leading private banks. Arthur's articles are published on the blogs of famous financial companies and he was the main editor of the popular financial book "Wall Street Back to Basics". He creates clear texts and turns complex topics into easy-to-understand content.