We receive calls every day from people asking what they can do about payday loans and court actions being threatened against them.
For the most part these clients are scared of being sued and really have nowhere to turn to find help with these kinds of problems.
They are already in debt and out of funds to hire a lawyer, and many do not even understand how the court system works having never been in a court room before.
All in all it is safe to sAy they are worried sick and looking for help!
Threats of court action
When a payday loan collector starts talking court action and suing for outstanding debt right away people get very nervous.
They start thinking of lawyers fees, destroyed credit ratings, court costs and on and on.
The reality is anyone can sue you but most payday loan companies are all talk and very little action when it comes to actually taking you to court.
They can get more money out of you if the just keep up the collection action on their own by calling constantly, sending letters and making threats.
See, the borrower will keep paying what they can and all the while the interest just keeps getting added on, so the payday loan company has the best of both worlds here.
They have income from the borrower and they also have the borrower over a barrel to continue paying, all the wile the debt grows.
If they would actually let the lender take them to court and finalize the debt and get a payback plan from the court they would be much better off, or better yet use a company like us to consolidate their payday loans and stop all interest from piling up.
This way there would be an end in sight.
Most people do not think this far ahead due to being thretened all day every day with court action so they just keep doing what they can to hold off these collectors, all the while they are really playing right into their hands.
These collectors are a crafty bunch!
Do you think if they saw this guy waiting for them these collectors would be so abusive and heartless?
Sometimes you have to fight fire with fire, and believe it or not, the borrower does have quite a bit of fire power at their disposal.
Most just do not know it is available to them.
As long as they keep playing the game of paying what they can when they can the payday loan companies win.
They can afford to carry the balance simply because they are adding to it every day.
That is where we come in.
Help is here!
We have a simple solution for all of this hoopla they put borrowers though and we are just as aggressive as they are in solving peoples problems.
We go for the juggler, so to speak!
The first thing we do is assume the borrowers loans and consolidate them all into one balance.
We stop all incurring interest, phone calls, and legal action, even though in most cases the legal action is only a threat because like we stated they rarely take action, only threaten it.
Yes they will tell you they have started collections, but they are fibbing, and they are great at it.
Do not get us wrong, this debt still needs to be taken care of as soon as possible as it is growing in interest day by day.
We will negotiate the pay back amount down to the lowest possible dollar amount, and many times most if not all of the outstanding interest will be waved.
What is left is a low bi monthly or possibly even monthly payment you can afford!
Most times you will end up saving up to 75% of your outstanding balances.
There are options to being bullied around and we are more than happy to supply one way to retire all of the borrowers payday loan debt the most pain free way!
The days of these collectors being the neighborhood bully are over, and we are more than happy to take them on and shut them down.
Do you have out of control payday loan debt?