FORT LAUDERDALE, Fla. (PRWEB)
04 June 2021
National Payday Loan Relief is one of the leading payday loan assistance companies in the United States that offers payday loan assistance programs to its clients. They have been in the business of payday loan settlement for over twelve years and they have many clients to attest to the success of their services. They pride themselves on providing the best payday loan elimination programs for customers struggling with debt and seeking 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 an increase in the population who cannot keep up with their payday loan payments in the United States. Many families have experienced declines in income or have lost their source of income (jobs) due to declining business income. Some people were overwhelmed by poor health and fear of infection that they could not do their jobs well, and they were fired. Some people have experienced disruptive events, such as accidents that have required payments over their budget and made them financially unstable.
The pandemic has allowed many people to face the risks associated with payday loans. They were burdened with paying renewal fees, lenders emptying their bank accounts, reduced credit scores and a terrible cycle of debt. These issues have led to frenzied individuals taking on more debt, especially with inflated interest rates associated with non-payment of payday loans. These were other effects of non-payment, such as embarrassing emails, messages and calls that affected the well-being and family life of some people.
The payday loan assistance program provided by National Payday Loan Relief is available to help people get out of their debt cycle, huge debts, and embarrassing calls from lenders. With payday loan settlement, a person can be freed from all accumulated debts in two to four as long as the person is no longer taking out loans. The payday loan settlement program can help get a loan reduced to 50% of the original loan. This is only possible when certain factors are taken into account, such as;
- The age of debt.
- Debt delinquency.
- Financial difficulties of the borrower.
Many people confuse payday loan settlement with payday loan consolidation. This is because most of the payday loan companies offer both services and they have different concepts. Payday loan settlement involves negotiating with lenders to settle a debt that is less than the amount owed or a forgiveness of the entire debt. It can be effective for one or more lenders. Payday loan consolidation involves combining the debts of different creditors and using one loan to pay them all, with a chance of lower interest rate and lower monthly rate.
If a person is about to file for bankruptcy, it is time to rethink, as bankruptcy will affect the credit rating and the ability to opt for a loan over the next ten years. Rather than file for bankruptcy, the separated borrower should take the free National Payday Loan Relief consultation and adopt the payday loan settlement program.
Payday loan relief involves a lot of negotiation. A person who decides to choose one without the help of a loan company might face stress, disappointment and denial. Settlement must be quick to avoid going bankrupt or getting a lower credit score. The negotiation process involves;
1. Contact the right person: The right contact is obtained mainly from the last notice of the borrower. This can be the contact of the lending company or the contact agency. Contacting the wrong person may make the situation worse and not yield any results. With National Payday Loan Relief, there is no need to worry because they always have the right contact information.
2. Payday Loan Settlement Decision: Best done with a top notch loan aid company because they have the expertise to negotiate a fair settlement that their client can afford. The payment plan chosen could be a lump sum payment or a monthly payment at a rate the customer can afford.
3. Financial Stability Plans: Payday loan settlement aims to save the borrower enough money to perform other tasks. The relief company uses the budget the client can afford to negotiate a deal. The settlement agreement will take into account company fees and federal taxes on the unforgivable aspect of the settlement.
4. Get a Written Agreement: A common mistake people make with financial decisions is to leave them as spoken words. Unwritten agreements are detrimental as the lender can deny any settlement claim without proof. National Payday Loan Relief provides legal teams that will help finalize written agreements. They do this through a signed payday loan settlement letter that makes the settlement binding. The letter also offers protection to the customer in the event of a dispute regarding the amount entered into for payment. It also helps when legal action is needed.
Without the help of a payday loan, a person will live a stressful and financially constrained life. National Payday Loan Relief has a team of financial experts who can settle all payday loans and help a person live a debt-free life. As with any other financial institution, they have criteria that a borrower must meet to be eligible for assistance for a payday loan. They include legitimate evidence of the following:
- A total accumulation of payday loan debt of a minimum of one thousand dollars and the presence of two or more open payday loan accounts.
- The client’s total funds available as income or assets.
- The borrower’s physical residence and other frequently visited places.
- Collateral offered to obtain previous loans.
National Payday Loan Relief understands that most people are overwhelmed by the stress of their loans in addition to the pandemic and reduced income. 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 for payday loan assistance, the National Payday Loan Assistance helps achieve a less demanding repayment plan. The company has three main steps for any payday loan assistance program, which they include;
1. Assessment by a personal financial advisor: National Payday Loan Relief assigns each client to a financial advisor. The consultant will be in charge of managing the communication and paperwork for the payday loan settlement. The initial meeting usually consists of collecting information on the borrower. The questions asked relate to current income, all loans, assets and expenses.
2. Approach to Lenders: The task of meeting with lenders is taken away from the client and the company handles every negotiation. The company helps its clients prevent lenders from touching their accounts. The lender and the company decide on a settlement plan that must be adhered to by the customer.
3. Completion of the assistance: A financial expert helps the borrowers to stick to their plan of paying the new loan amount.
Many professional debt settlement companies do not accept payday loans in their settlement program, leaving borrowers with limited options. National payday loan relief is not an option just because of the limitation on access to payday debt settlement, but because they provide one of the best debt settlement services with the. experience. They are not after the client’s money but the results, as they charge the client 35% of what they save and offer legal assistance at no additional legal fees.
National Payday Loan Relief was founded by debt settlement industry veterans as a small business in Florida and has grown into a national business. It is the most trusted debt settlement company in the United States for getting people out of debt. It has been a company specializing in eliminating and settling payday loan debt for over 29 years. They have successfully satisfied over three million customers nationwide. They pride themselves on effectively guiding their clients through the debt settlement process so that they are free from any hassle or embarrassment.
Their mission is to provide effective payday loan relief to people nationwide to overcome the crushing burden of high payday loan interest rates and overdue balances that can ruin a person’s finances. They provide good moral services and educate people on the working process of payday loans, their finances, and the correct strategy for navigating payday loans. They are among the few companies that have provided their customers with COVID 19 resources because of their moral standing.
National Payday Loan Relief offers its clients and potential clients free consultations. They also have customer service that is always available to answer any questions about the debt settlement process. The company works with qualified financial attorneys and experienced negotiators to achieve positive results in their debt settlement cases.
For more information on payday loan settlement, please visit https://nationalpaydayloanrelief.com/ or call (888) 407-4521. You can also send a mail to [email protected]