Payday loans are the need of the hour for many US citizens. Payday loans may seem like a quick and easy solution if one needs fast cash! The structure is such that many borrowers get stuck in a cycle of repeatedly ending up paying additional fees to renew the same loan!
If one gets stuck in the payday loan cycle, consolidating the debt into a personal loan may help break free.
Loan amounts always vary by lender. The minimum loan amount for a personal loan is usually about $1,500, which is always higher than the minimum amount for a payday loan! The best way possible is to repay the payday loan debt relief earlier and qualify for the next stage of borrowing another loan.
