Our Process
The Steps in Our Payday Loan Debt Relief Process
We are aware of the challenges associated with debt relief. We want to contribute to improving the situation because we have witnessed the toll it takes on people’s lives.
Because of this, we created our payday loan debt relief procedure with your needs in mind. You’ll discover that having a team of professionals by your side will not only help your finances but also your emotional health.
What You Should Understand About Payday Loans
Payday loans let you borrow money against your upcoming paycheck if you need money right away but won’t be paid for a few more days. These loans often have low values and are simple to qualify for.
When you apply for a payday loan, you consent to repay the loan amount plus interest or a set charge based on your loan, whichever is greater. Some lenders of payday loans charge $10 for every $100 borrowed. charge $10 for each $100 lent.
Most employed people can get authorized for a loan, so don’t worry if you’re afraid about being approved because of your credit. You should be eligible to apply for a payday loan as long as you have a working bank account and have been employed for a while.
Payday loans can seem like a good option, especially if you find yourself in a tight spot. It’s crucial to consider whether you can manage a loan payment on top of your other obligations without experiencing financial hardship.
Because payday loan borrowers authorize the lender to debit your account and withdraw the loan payment whether you are ready for the money to come out of your account or not, many people wind themselves in problems with these loans.
Why Payday Loan Relief Is Essential To Preserving Your Financial Situation
Payday loans are sometimes regarded as predatory lending, and as such, they prey on those who are in danger or have an urgent need and trap them in a cycle of high interest rates, exorbitant fees, and sometimes hidden costs.
These payday lending companies are holding you captive by locking you into a loop of borrowing money, rolling it over, paying it back, and then borrowing more money right away. You put yourself in increasing financial danger by allowing this cycle to deepen and become more serious.
The interest, fees, and relentless phone calls from impatient lenders can all be promptly stopped by signing up for a payday loan relief program. Following that, we start working on reducing your debt down to more manageable levels and assist you in paying it off with lesser interest. Your financial future may be saved as a result of this.
Highlights of the Rippletech Funding Process Program
Contrary to appearances, the Rippletech Funding procedure is rather straightforward. Here is a general overview of what to anticipate when you take part in the program.
Consultation
When you first get in touch with us, we can either schedule a consultation time or just do it then. We will acquire as much data and information as we can during the consultation, which is a pretty simple process.
We will work with you to produce a list of all the payday loans you currently have outstanding, together with the names of each lender. We’ll also learn a few fundamentals about your other financial circumstances, such as your sources of income and expenses.
Qualification
Rippletech Funding will need to perform a “soft pull” of your credit report because they are issuing you a legal loan, albeit one with a lower overall APR. Your credit score is not affected by this the way a “hard pull” can be.
Our goal in conducting this evaluation is to make sure that we only assist those who can benefit from our assistance. Making promises that we can’t keep is something we want to avoid doing. Consolidation may not be beneficial in some extreme cases, in which case filing for bankruptcy is the main method of relief.
Enrollment
You and the payday loan consolidation specialist will talk about your enrollment possibilities when the qualification stage is through. This will involve figuring out from our selections what a comfortable monthly payment would be.
You will have the choice to enroll and start your program after the conditions of the charges and payment arrangements have been agreed upon. Once you enroll, we will formally represent you and negotiate the terms of your payday loan debt on your behalf.
Negotiation
Once enrollment is complete, our group of knowledgeable attorneys that specialize in collections will start working for you. They will communicate with your lenders on your behalf and arrange a settlement of your short-term loan obligation.
Compared to the ordinary consumer, our attorneys frequently obtain settlement and repayment agreements with lenders at much higher rates. You can save more money as a result, which will help you reach your ultimate goal of living debt-free sooner.
Consolidation
The specifics of your repayment strategy will be finalized once negotiations with your lenders are over. You will now discuss the consolidation loan amount, terms, and payment choices with your debt consolidation expert.
Before making any decisions, make sure you can adhere to the payment amount and timetable. If you’re going to do anything, make sure to do it correctly. The loan will be issued and your repayment plan will begin once all of the loan’s specifics have been agreed upon.
Payment
You and your payday loan consolidation professional will go through all the details of your loan before the consolidation loan is issued. This will cover both the frequency and size of payments.
Make sure to keep up with your payments after your enrollment and repayment are in effect. This will help you finish your program and pay off your payday loans as quickly as possible while also ensuring that you maintain excellent standing on your consolidation loan.
Completion
All of your payday loans as well as your consolidation loan will be marked as paid once you’ve finished your consolidation program, which typically lasts between two and four years.
A significant improvement in your credit score should be visible in the interim if you have been making your consolidation payments on schedule.
If you are looking for a payday loan debt consolidation company with trustworthy credit counselors to help you improve your financial situation, give us a call today at 888-655-2515 or click the button below and fill out the form . We offer a free consultation.