Photo of a couple going through financial problems

When bills roll in it may be tempting to look to a payday loan to resolve your immediate financial needs. There are numerous payday loan options available online which are accessible and easy to have approved. The downside of choosing this option though is that if you struggle to make payments on a payday loan, you may be tempted to seek further payday loans to pay off other payday loans and over time this can create a difficult financial situation.

Solve My Debt Now is ready to help in breaking free from the cycle of payday lending. We work with you to prepare a plan that’s tailored to your budget and goals. With over 13 years of expertise in debt management and reduction, we can often help to reduce payday loans and provide financial relief.

This is what Amy F said in a recent 5-star review on our Google page:

‘I have had an amazing experience with Solve My Debt Now. I had some cash loans which were costing a fortune to pay back.
The process was simple, painless and now I am able to regain financial freedom.

They also were able to reduce some of my cash loans which was amazing.

I can’t recommend them enough.

If you also find yourself with lots of small cash loans that you are struggling to pay back, there is a way forward.

Consolidating Payday Loans

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If you have multiple payday loans, consolidating them through another debt consolidation loan might seem like a smart move. Consolidating your loans is where a debtor takes out a new loan to settle existing ones and streamline payments into a single instalment. In some cases, consolidation options have lower interest rates compared to rates applicable to payday loans. This can be a good option for some borrowers struggling with managing their payday loans.

However, borrowers with several loans may struggle to be approved for a debt consolidation loan as lenders will look at your previous lending pattern and will assess whether borrowers can afford yet another loan.

If consolidation doesn’t seem like a good idea for you, Solve My Debt Now provides another option.

Ina M said this in a recent 5 star review on our Google Page:

‘I recently was shopping around for a lender to help consolidate my debt. Unfortunately I was unsuccessful twice.
A friend of mine suggested trying Solve My Debt Now. The best thing that could’ve happened to me financially. Filling out the application was a breeze. I was signed up within the hour and I got results back in less then 24hrs. Consolidated my debt managed to get a 45% reduction on one of my existing loans, which has saved me a whopping $260 a month.

Very helpful and friendly staff and they get the Job done.
Highly recommended 👌🏾’

Are there other options?

There are several ways to break the cycle of payday loans. One may be reaching out to the National Debt Helpline who will put you in touch with a financial counsellor. Another may be talking with your creditors and trying to find a solution to your hardship.

Solve My Debt Now also offers a solution that you can consider.

Our debt relief solution aims to achieve any or all of the following outcomes for you:

  • Negotiating with creditors to reduce or waive your debt based on your current circumstances.
  • Negotiating with creditors to reduce or suspend your interest payments.
  • Where successful, avoid leaving a 5-year black mark on your credit file in contrast to the outcome of a part 9 debt agreement or bankruptcy filings.
  • Minimises your contact with creditors wherever possible.
  • Setting up payment plans with your creditors within your estimated budget to make paying back your debts manageable over time.
  • Providing a holistic debt relief solution that can be an alternative to immediate insolvency or bankruptcy.

Final thoughts…

Whether you’re repaying a few or numerous payday loans, Solve My Debt Now would like to help. Breaking free from the payday loan cycle may be easier than you think and is a positive step towards future financial stability.

Want to Solve Your Debt? Let us Help – Today.

Book your FREE Consultation now and talk to one of our qualified SMDN Advocates, that will help put you back on the road to financial freedom!