FORT LAUDERDALE, Fla., June 4, 2021 /PRNewswire-PRWeb/ -- National Payday Loan Relief is one of the United States' top loan relief companies that provide expert payday loan help programs to clients. They've been in the business of payday loan settlement for over twelve years, and they have numerous clients to attest to the success of their services. They boast of providing the best payday loan elimination programs for clients struggling with debt and aiming for financial freedom. National Payday Loan Relief is popularly known for its payday loan consolidation and payday loan relief programs. They also offer other services like debt management and mortgage refinancing.
With the emergence of the financial crisis due to the COVID 19 pandemic, there has been a rise in the population that cannot keep up with their payday loan payment in the United States. Many families have experienced income slash or lost their income source (jobs) because of reduced revenues of companies. Some people got burdened with poor health and fear of infection that they could not perform their job well, and they got fired. Some individuals went through disruptive events, like accidents that required payments beyond their budget and rendered them financially unstable.
The pandemic allowed payday loan risks to arise for many people. They got burdened with the payment of renewal fees, lenders emptying their bank accounts, reduced credit scores, and a terrible debt cycle. These problems resulted in frantic individuals going deeper into debts, especially with an inflated interest rate associated with non-payment of payday loans. They were other effects of non-payment, like embarrassing emails, messages, and calls that affected some people's well-being and family life.
The payday loan help program provided by National Payday Loan Relief is available to help people out of their debt cycle, huge debts, and embarrassing calls from lenders. With payday loan settlement, a person can be free from all debts accumulated in two to fours as long as the individual does not take any more loans. The payday loan settlement program can help achieve a loan cut to as little as 50% of the original loan. It is only possible when some factors are considered, like;
- The age of the debt.
- The delinquency of the debt.
- The borrower's financial hardship.
Many people mistake payday loan settlement with payday loan consolidation. It is because most payday loan relief companies offer both services, and they have different concepts. Payday loan settlement involves negotiation with lenders to settles a debt for less than the amount owed or a forgiveness of the entire debt. It can be efficient for single or multiple lenders. Payday loan consolidation involves combining debts from different creditors and using a single loan to pay them all, with a chance of reduced interest rate and lower monthly rate.
If a person is close to filing for bankruptcy, then it is time to rethink as bankruptcy will affect the credit score and a chance to opt for any loan in the next ten years. Rather than filing for bankruptcy, the estranged borrower should take up the free consultation National Payday Loan Relief and embrace the payday loan settlement program.
Payday loan relief involves a lot of negotiation. An individual that decides to go for one without the help of a lending firm might encounter stress, disappointment, and denial. The settlement should be prompt to avoid being bankrupt or getting a lower credit score. The negotiation process involves;
1. Contacting the right person: The right contact is mostly obtained from the borrower's latest notice. It could be the contact of the lending company or the contact agency. Contacting the wrong person can aggravate the situation and yield no result. With National Payday Loan Relief, there is no need to worry, as they always have the correct contact information.
2. Decision on settling the payday loan: This is best done with a top-rated loan relief company because they have the expertise to negotiate a fair settlement that their client can afford. The payment plan decided on could be a lump-sum payment or monthly payment at a rate the client can afford.
3. Plans for financial stability: Payday loan settlement aims to save the borrower enough money to perform other tasks. The relief company works the budget the client can afford to negotiate a deal. The settlement deal will consider the company's fee and federal taxes on the unforgivable aspect of the settlement.
4. Getting a written agreement: A mistake people commonly make with financial decisions is leaving them as spoken words. Unwritten agreements are detrimental because the lender can deny any claim of the settlement without evidence. National Payday Loan Relief provides legal teams that will help finalize written agreements. They do it through a signed payday loan settlement agreement letter that makes the settlement enforceable. The letter also offers client protection in case of any dispute regarding the concluded amount for payment. It also helps when legal actions are required.
Without payday loan help, a person will live a stressful and financially limited life. National Payday Loan Relief has a team of financial experts capable of settling all payday loans and helping a person live a debt-free life. As with any other financial institution, they have criteria a borrower should meet to qualify for payday loan help. They include legitimate evidence of the following:
- A total accumulation payday loan debt of a minimum of one thousand dollars, and the presence of two or more open payday loan account.
- The client's total fund available as income or assets.
- The physical residence of the borrower and other frequently visited locations.
- Collateral offered to obtain previous loans.
National Payday Loan Relief understands that most people are overwhelmed with the stress of their loans in addition to the pandemic and reduced income, so they provide clients with dedicated professionals for debt relief counseling. They also provide borrowers with legal assistance, especially for events like harassment from lenders or outrageous interest rates due to the inability to pay promptly. Once a borrower is eligible to partake of payday loan help, National Payday Loan Relief helps attain a less strenuous repayment plan. The company have three main steps for any payday loan help program, they include;
1. Assessment by a personal financial consultant: National Payday Loan Relief assigns every client to a financial consultant. The consultant will be in charge of handling communication and paperwork for the payday loan settlement. The initial appointment usually consists of information collation on the borrower. Questions asked consist of current income, all loans, assets, and expenses.
2. Approaching lenders: The task of meeting with the lenders is taken off the client, and the company handles every negotiation. The company helps clients to stop lenders from touching their accounts. The lender and the company decide on a settlement plan that must be adhered to by the client.
3. Completion of the help: A financial expert helps borrowers to stick with their payment plan of the new loan amount.
Many professional debt settlement companies do not accept payday loans in their settlement program which leaves borrowers with limited options. National Payday Loan Relief is not an option only because of the limitation in accessing payday debt settlement but because they provide one of the best debt settlement services with experience. They are not after the client's money but after results, as they charge 35% of what they saved the client, and they offer legal assistance with no additional legal charges.
National Payday Loan Relief started was founded by veterans of the debt settlement industry as a small company in Florida and grew to become a nationwide enterprise. It is the most reliable debt settlement company in the United States to get people out of debt. It is a specialized company in eliminating and settling payday loan debts for over 29 years. They have successfully satisfied over three million clients nationally. They boast of effectively guiding their clients through the thick and thin of the entire debt settlement process so that they are free of any worry or embarrassment.
Their mission is to provide effective payday loan reliefs to people nationally to overcome the overwhelming burden of payday loan's high-interest rates and overdue balances that can ruin a person's finances. They provide good moral services, and they enlighten people with the working process of payday loans, their finances, and the right strategy to navigate payday loans. They are among the few companies that provided clients with COVID 19 resources because of their moral standing.
National Payday Loan Relief provides their clients and prospective clients with free consultations. They also have a customer service department that is always available to answer any debt settlement process question. The company works with skilled financial attorneys and experienced negotiators to get positive results for their debt settlement cases.
CARLOS HALIS, National Payday Loan Relief, (888) 407-4521, [email protected]
SOURCE National Payday Loan Relief