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Who Can I Trust for Payday Loan Consolidation? – Rebecca

“Dear Steve,

I have five payday loans that I am not behind on, but the renewal fees that they charge me each month is causing my bank account to become negative and making it hard for me to pay my other bills. I would like to consolidate these payday loans into one monthly payment so that I can pay them off. The total payday loan debt is $1802.21.

Is there a company out there that does payday loan consolidations that can be trusted? If so, who?

Thanks for your help.


Dear Rebecca,

I’m trying not to jump to conclusions but I’m assuming that because you went the payday loan route that your credit score isn’t really high. That will certainly hamper your ability to get a debt consolidation loan to consolidate your payday loans. The two peer-to-peer groups I suggest for debt consolidation loans are

You could always contact a credit counseling organization and ask them if they’ve had experience working with your payday lenders. While this might not lower your monthly payment you could include you other debts with the credit counseling group to see if that lowers your overall monthly payment and makes it affordable.

You can also use the free How to Get Out of Debt Calculator to review your options.

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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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.

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