Paying off debt can feel like being on a sinking boat. The more water you bail out, the quicker it refills. If you’re drowning in debt because of a payday loan, there are ways to get your head back above water. Clearly, the first step is to stop taking payday loans. Once you’ve stopped the cycle of borrowing, you can take advantage of the following services to help you regain control of your finances and get your payday loan debt under control.  

Extended Payment Plans

You can request an extended payment plan (EPP) from your payday lender to break your payments down into smaller monthly installments. To do this, your lender must be a member of the Community Financial Services Association (CFSA). As long as you don’t default on your extended loan, an EPP will delay interest fees and grant you time to repay your debt without the pressure of collection agencies breathing down your neck. 

Credit Counseling Services

If an extended payment plan isn’t an option for you, debt management and credit counseling programs are good avenues toward financial freedom by helping you establish a budget to make your monthly payments on time. Although payday loans have contractual terms that often prove difficult to work around, an experienced credit counselor may be able to get you out of debt by negotiating a debt settlement with your creditors.

Professional Debt Relief

With established relationships with all the major payday loan companies and creditors, Progressive Debt Relief has the experience and ability to settle payday loan debt efficiently and discreetly. Through free consultations and no upfront fees, our financial experts will work with your creditors to negotiate and settle your payday loan debt for good. 

To find out more about our services, or to schedule a complimentary consultation, contact us today.