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Are There Any Legitimate Payday Loan Companies to Consolidate My Loans?

Written by Steve Rhode


Dear Steve,

My husband died in 2008 leaving me with 3 kids and massive student loan debt. Still owe 6 figures in student loans and helping my older two kids with college. I stupidly took payday loans. Any legitimate payday loan consolidation companies?

Any legitimate payday loan consolidation companies?? I work full time but still struggling to help kids with college and pay back all the payday loans.



Dear Alison,

Technically there sure good be some excellent payday loan consolidation companies. In reality though it seems to fight against the business model and common practices of the industry. This is clear example of an industry where any good payday lender is going to suffer because of all the bad acts that take place by other lenders.

I’m sorry to hear about the loss of your husband. Tragic. It sure sounds like you’ve endured an ongoing financial struggle.

And while I can appreciate the desire to help your two children with college, it sounds like we need to get you back on a safe financial foundation first.

I have no idea what your budget is, what kind of loans you owe, or if your student loans are federal or private.

But what is apparent is you have already turned to a lender of last resort who is probably charging you a high rate of interest for the open loans and then rolling them over. It is doubtful you could find another payday lender to consolidate the loans. One option would be to consider an unsecured personal loan consolidation company like

However, I would first suggest you talk to a bankruptcy attorney who is licensed in your state. Bankruptcy is typically the least expensive and fastest way out of many types of debts and it will make the debts legally go away.

The student loans are another issue and while some can be eliminated in bankruptcy in many situations, it would require a closer look at the student loans to determine if there is any help available for them through bankruptcy.

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


  • Hello Alison,
    Many people find themselves in similar situations these days. Best advice I can give is when you find someone is to ask any questions you may have before agreeing to anything. Get comfortable with who it is you will be working with and have a point of contact. Getting an additional loan to consolidate payday loans is an option if you can find a lender willing. At we do payday loan consolidation but there is no actual loan given. In our experience we can actually save you more money and hassle using the programs we have available. Have you found any help to date?

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