Pay Day Loan Consolidation Advice

I have several pay day loans and would like to know who I can go about consolidating them into one lower monthly payment.


Dear Anne,

There are good options for unsecured debt consolidation through and I’ve recommended those companies to people in the past and people seem to be happy with either of those companies.

I hate to assume, but because you have pay day loan it makes me suspect your credit score is not the best in the world. Typically people with poor credit scores turn to payday lenders because other people will not lend to them.

If that’s the case in your situation then the most likely place to get a pay day consolidation loan is going to be from a friend or family member. Typically or will not make loans to people with a credit score below 660. If you do not know what your credit score is I would suggest you get a consolidated copy of your credit report with the credit score and find out.

Taking a look at your credit report before applying for a loan is a smart thing to do so you can correct any errors that might appear on your credit report and needlessly lower your credit score.

Outside of that you may see advertisements or offers to consolidate pay day loans. In my experience, many, if not most of those, are scams or disreputable lenders that require you to pay advance fees for a loan you may never receive.

Is the payday loan debt your only debt problem or to you owe debt to others as well?

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.
Damon Day - Pro Debt Coach

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