National Payday Loan Assistance Review

National Payday Loan Assistance ReviewStopping the payday loan trap is the promise of National Payday Loan Assistance. They say that they can consolidate your payday loans and help you get out of the trap by cutting your debt by 40%. That’s not surprising, since so many payday lenders are charging such high rates. But does this actually work?

It’s nice to think that your payday problem could just go away overnight. When you think of the fact that the trap keeps you stuck paying fees again and again for what amounts to the same money being borrowed again and again. But is this really something that can happen, or are you just going to end up in debt to another business?

Solving a debt problem with more debt is a bit counterintuitive, but when you consider the high fees charged by payday lenders it becomes clear that there is plenty of room for a third party to come in and offer you a better rate, taking on the loan and being the new recipient of your interest payments, even if they are lower for you. Businesses just want to make a profit, and if they can pay your loans off, and then take payments from you over time, they are instantly creating a new revenue stream where none existed before.

National Payday Loan Assistance Review – What to Expect

When you get your loan consolidated you end up with just one loan and one due date, as well as just one interest rate and one payment plan. This alone can be worth it because you won’t have to juggle a lot of balls in the air or do the classic robbing Peter to pay Paul routine each payday.

The Real Savings
The real savings comes in the form of knowing when your loan will be paid off as long as you stick to the payment plan. When you fall into the payday loan cycle, and compound that by taking out multiple payday loans, you are really stacking the deck against yourself and there’s virtually no way you’ll pay it off if you just keep going in and paying the loan and taking the money right back out. That’s how it’s set up, it’s designed to leave you without enough money to make it to your next payday, and the only logical thing to do is take the money out again and take on those fees again.

How Consolidating Helps
Consolidating your loan through a company like National Payday Loan Assistance means that they’ll pay off all of the lenders you owe, and you just pay them. That immediately should stop all of the collection efforts of the payday lenders, giving you peace of mind and a new ability to focus on making that one payment. Of course all of these benefits go away if you fail to make the payment on your consolidated loan, so it’s vital that you don’t get into a consolidation if you don’t feel you can make the payment.

Online and Offline Loans
They say that you can use their service for both loans that you took off the Internet, as well as ones that you got in person at a local office. This is nice because many borrowers have different types of loans. They are listed as having an A+ rating by the BBB, which depending on who you ask either means something or doesn’t. At the very least it might separate them from the hundreds of other payday loan consolidation sites out there so that you can feel a bit better. But if it was such a quality site why don’t they bother encrypting the page that sends your personal information over the Internet. Seems like a big oversight since it’s so easy to set up as a website owner.

Our Recommendation
Not enough information is given as to who this company is, what they actually do, whether they’re actually a lender or just an affiliate for the actual loan companies. It seems that their site is set up just to collect your information and pass it along. There are plenty of other loan consolidation companies to go with, and National Payday Loan Assistance doesn’t look as if they are worth doing business with over some other lenders.

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