Payday Loan Consolidation, Debt Relief From Too Many Payday Loans


You need to get out of debt now? Payday Loan Consolidation in 5 minutes

If you have multiple outstanding payday loans with a total debt in excess of $1000, you may be able to tackle your debt with the help of’s debt consolidation program. We may be able to lower and simplify your monthly payments. So give us a call or complete our quick and easy online form TODAY and get your  debt under control.

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How Payday Loans are used in the USA

How Payday Loans are used in the USA How Payday Loans are used in the USA

What Are the Benefits of Payday Loan Debt Consolidation?

  • Owe Just One Affordable Monthly Payment
  • Fewer Collection Calls
  • Rid Yourself of the Debt Millstone
  • No Upfront Fees
  • Free Quotes
  • Online application
  • Avoid default and potential insolvency

Payday Loan Consolidation

Thousands of people across the world are struggling with debts such as high credit card balances, mortgages or medical bills. This struggle usually is frustrating and exhausting. Not knowing how to pay off multiple payday loans puts people under tremendous pressure. When it comes to a point where an individual cannot repay his own loans, there is always an alternative – debt consolidation loan. Loan consolidation is a form of personal loan for people with bad credit.

Consolidating payday loans is a great solution for all debtors with huge debts. However, loan consolidation comes with its risks and therefore there are alternatives to it. Here is some advice on how to consolidate payday loans online and get out of debt.

What is loan debt consolidation?

Debt Consolidation Loan is a financial instrument which provides repayment for your current debts by combining them into one debt. Of course, with the new bill comes a new interest rate. The number of the bills you have and the combined interest rate are reduced.

When concerning a payday consolidation loan, it is common that they are unsecured, based only on your promise to repay. Still, there is the possibility of taking a secured loan with a collateral taken out on one of your assets. This asset can be your house, an automobile, smaller possessions or even other accounts or insurance policies in your name.

What Should I Consider When Taking Payday Loan Consolidation?

Amount Negotiate for an amount that will allow you to repay all your loans by taking one large loan.
Time Choose a considerable time to avoid complications during the application process
Interest charge When you opt for a payday consolidation loan we connect you to lenders with competitive interest rates

Loan consolidation providers

There are different kinds of payday loan consolidation providers. All of them are financial institutions. It’s up to you to find the best payday loan consolidation provider for your situation.


  • Payday loan debt consolidation companies

They don’t work with traditional deposits but instead repay your old debts and then collect the amount from you on a monthly basis with a new interest rate. Usually, these companies start at the prime interest rate plus 5%. They don’t require excellent credit dossier from their clients. They also work with a common credit limit of $25,000. So if your debt exceeds it, you won’t be able to take up a payday consolidation loan from them.


  • Local and national banks

Another financial institution that offers to help with payday loans debt consolidation are local and national banks. Of course, they work with customers with excellent credit history. Their interest rates are also high – they too start at the prime rate plus 5%. They also tend to require debt repayment within five years. Nevertheless, they work with higher loan limit of amounting up to $100,000.


  • Credit unions

The third kind of payday loan consolidation providers are credit unions. Usually, they also require full repayment up to 5 years. It is not uncommon for them to work with discounts of the rate prices for their own members. Their terms include excellent credit history and a loan limit up to $50,000 but it can vary from union to union.


  • Payday loan lenders

Another avenue for payday loan debt relief is the one of payday lenders. They differ from other types of loan providers because they lend short-term unsecured loans that don’t require a credit check. They won’t repay your debts one by one. Instead,they will provide a different kind of help with payday loans debt consolidation. They will give you cash and thus allow you to repay your own debts. You should keep in mind that they work with interest rates exceeding 15% and expect full repayment within several weeks. The less you earn in one month, the less cash you may borrow.


  • Peer-to-peer lending services

The next kind of loan consolidation providers are peer-to-peer lending services that specialize in unsecured payday loan debt assistance between individual borrowers. They work with rates from 6% up to 30% or even more depending on your past credit performance. They expect repayment within 3 to 5 years.


  • Personal credit

Lastly, there are personal lines of credit. They are usually offered by banks or credit unions to clients with excellent credit history, with similar to their usual terms, mentioned above, concerning rates and amount limits. However, they don’t expect repayment within 5 years.

Borrowing from yourself

Before turning to debt consolidation loans, you should always consider the alternative of borrowing from yourself. This means that you don’t borrow from a financial institution. Instead, you use one of the two options:


  • 401k loans

The first option is the so-called 401k loans. If you have a 401k plan, there is a possibility that you might be able to borrow from it. This depends on the specific terms of your plan. If it does allow you to borrow, you may not borrow more than $50,000 or half of your vested balance. These loans are similar to those provided by banks because the expected repayment period is no longer than 5 years. On the other hand, there is a similarity with payday lending because no credit check is required. In other words, you pay interest to yourself. However, there is also a certain disadvantage. If you leave your job, no matter what reason, you are obliged to pay up the entire balance of the loan within 2 months.


  • Cash value life insurance policy

The second option is to borrow from a cash value life insurance policy, if the terms of your insurer allows it. The interest rate in such cases is typically no more than 6% plus prime.

Advantages and disadvantages of debt consolidation

To decide whether debt consolidation is the right thing for you, you should keep in mind both its advantages and disadvantages. To simplify the debt repayment schedule, to lower its amount and to even regain some of your former credit reputation – these are the obvious  advantages of debt consolidation. However, be careful not to cancel all your credit cards at once after repaying your debts. This is a common mistake which usually leads to damages on your credit dossier.

  • Unsecured loans

If you are considering taking out an unsecured loan, you should keep in mind the following advantages and disadvantages:

  • Of course, there are no requirements for additional guarantees; in other words you won’t, in any case, lose your property – house, car or other if you can’t keep up with the repayment schedule.
  • On the other hand, there are much higher interest rates because there are no other guarantees for the lenders. Depending on your credit history, the rates might be unmanageable compared to your income. In that case, you should consider securing the loan with additional assets to keep the rates low. Otherwise, rates might reach up to 36%.
  • You should also bear in mind  the strict requirements on the customer’s credit score. This concerns the interest rates and the maximum amount of loan you could get. In other words, the higher the score, the lower the interest rates and the bigger the loan.
  • Secured loans

If you are considering taking out a secured loan, here are its main advantages and disadvantages:

  • To begin with, the loan would definitely be cheaper. Bear in mind that the rates depend on your credit history and the amount of the loan. In any case, an additional guarantee in terms of having a collateral tied to the secured loan should mean lower rates for you to pay.
  • The requirements that the potential borrower of a secured loan are also significantly lower. This means that you could take a loan even with far from an excellent credit score.
    In addition, the repayment terms of secured loans are much longer. You may be allowed to repay your debt for up to 25 years. At the same time, you may borrow a significantly bigger secured loan.
  • Nevertheless, taking out secured loans has its disadvantages. The main danger comes from the fact that if you are unable to repay, you may lose some of your assets, your car or even house, for example.  

Alternatives to payday loan consolidation

Bear in mind that you should always check the credibility of your potential lender. Do not approach institutions with a doubtful past should there be a lot of customer complaints or legal prosecution. The market is large and there is always an alternative loan provider with a good reputation. There are also alternatives to payday loan consolidation itself. Here are some of them:

  • Credit counseling organizations that are funded by financial institutions.
    Part of the services they provide are free financial lessons to customers. Some of them can help you with repayment managing, including the option of arranging reduced rates and penalty fees. On the other hand, this may have a negative impact on your credit score because of the inevitable cancellation of credit cards.
  • Another alternative is debt settlement program. Such programs are administered by intermediary institutions. Their role in the loan process is to provide payday loan help and negotiate for a significant discount off your debt with your creditors. So for the following four years or so, you would be able to save money in an account with the purpose of a single repayment transaction. This process might also have a negative impact on your credit dossier for the near future.
  • There are other legal options involving the participation of the court. These are consumer bankruptcy and liquidation. Bankruptcy help you to  reorganize your payment plans. Liquidation is about wiping out unsecured and paying off secured debts. The latter usually requires the selling of properties. Both procedures require the obligatory participation of your creditors. These procedures have a serious negative impact on your credit history.
  • Lastly, there are credit card balance transfers. The main purpose these operation is to transfer your financial assets from a credit card program with higher rates to a cheaper program. Of course, the possibility of such transactions depends on the rules and practices of the financial institution that provides those credit card programs.


In conclusion, it should be noted that debt consolidation loans are a tool for repaying debts with unmanageable interest rates by combining them into a sole payment per month. The potential borrower should always be careful and act responsibly to achieve reasonable debt relief. Bear in mind that there are potential dangers such as property loss if assets are used as a guarantee for a secured loan. That is why it is strongly advisable to consider alternative options and professional financial counseling before deciding to consolidate your debt.

Why Should I Choose Green-Touch For Payday Loan Consolidation?

  • No hidden charges
  • Pay off debt quickly
  • Stop late fees
  • No waiting period to get started
  • Avoid collection harassment
  • Get quality financial advice
  • Get help from our specialists
  • Online application

Can you consolidate payday loans?

Yes, consolidating your payday loans is the best and most suitable way of repaying your payday loans. If you have accumulated debts, consolidating can be a good option. The only thing you need to do is to understand what consolidation is all about. There are many experts you can seek advice from. The advisors will help you in the evaluation and validation of your loans.

Consolidation will help you pay off your loans and you will only be left with one debt to pay. Payday loans are associated with high interest. A consolidating company will first find ways to reduce the interest rate that you are being charged. This will also help you avoid additional fees and charges. With consolidation, you have sufficient time for your to pay back your loan. You will be paying back at a lower interest rate and have more time and reduced monthly repayment installments.

Can you go to jail for not paying back a payday loan?

No. Lenders will list you as a defaulter and may submit your name to the regulatory agency in your state. The regulatory agency may then send your name to other lenders and therefore you will not be able to access loans. You will be listed and other lenders including banks will view you as a defaulter.

Can payday loans be included in Chapter 7?

Yes, you can include the loans in Chapter 7. This chapter gives you the opportunity to write off your unsecured loans including payday loans. With chapter 7, you will be required to list all your assets and debts. All these will be faced off in the bankruptcy discharge. However, choosing to file chapter 7 should not be the immediate option. This is because even though you have filed bankruptcy, you still have debts on your back. You will still be required to pay your loans at some point in the future.

How Many Payday Loans Can You Get?

The numbers payday loans you can get can be more than one. This is because the lenders are independent and will deal with you as an independent customer. They do not ask for your credit history and will offer you the loan based on their current evaluation of your profile with them. However, it is recommended that you stick to one payday loan at a time. It is difficult to keep track of several loans and you are most likely to lose track. You will also not be able to pay them all on time and therefore you will have to pay extra fees for late repayment.

Where are payday loans legal?

Payday loans are not legal in all states. Therefore, it is important for you to research before you apply for a payday loan in your state. Some states that have legalized payday loans include Rhode Island, Tennessee, California, New Mexico, Utah, Wisconsin, Illinois, Washington, Virginia, Nevada, Kentucky, Iowa, Delaware, Alaska, Mississippi, Wyoming, Texas, Nebraska, Louisiana, Florida, Kansas, Indiana, Missouri, Michigan, South Carolina, North Dakota, Minnesota, Idaho, Alabama and Hawaii. Do your research before applying for a payday loan and you will always find yourself on the right side of the law. You will also find the lender who suits your financial status.

Can you be taken to court for not paying a payday loan?

Yes, but the lender will first send you several reminders so that you are able to communicate back and pay them their due loan. Most of the time, your loan will incur additional interest and an extension of the repayment period. The lender will require you to confirm that you will pay the loan together with additional late payment charges.

Can they garnish your wages for a payday loan?

No, this is because lenders will only get the required amount as you directed your bank to give. Your wage does not go directly to the lender and therefore the lender has no control over your wage.

Which states have banned payday loans?

There are several states that have maintained their stand on payday loans as being fraudulent. The states include New Jersey, North Carolina, Arizona, West Virginia, Maine, Arkansas, Vermont, New Hampshire, Georgia, Pennsylvania, New York, Maryland, Connecticut and Massachusetts.

It is important to know the current laws governing payday loans in your respective state. This will ensure that you only access your loan from an approved agency and keep you away from becoming a victim of fraud.

Our Program

Our Program
Payday loan consolidation involves hiring a company to negotiate your obligations directly with the individual lenders. The goal is to decrease the amount you are required to pay back. In general, the consolidation company will set up a savings account in your name, into which you will make small monthly payments. The negotiator then uses these funds to negotiate a settlement with the lender. The interest on your loans will stop accruing, leaving you with less to pay back over time. If you have multiple loans and think you could benefit from this service, call our toll-free number and speak to one of our representatives without delay.

Do you need help?

Do you need help?
Accepting that your debts have become unmanageable can be difficult. Many people find a small debt becomes impossibly large within a short space of time, particularly if they fail to make their repayments on time and face penalties further exacerbating delinquency. If you regularly receive calls, letters or emails from your lenders or a debt collection agency, then this may be a sign that you need financial help.

Another way of considering whether or not you need assistance with your loans is to think about whether you will be able to pay it back within one year. A consolidation program could leave you debt-free within as little as six to 18 months. If you doubt your ability to pay off your borrowings without help, speak to a representative via our toll-free number or complete our online application form without delay.


If you decide to seek help from a consolidation company, they will start by talking to you about your debt and working out your monthly payments. They will then open a savings account in your name and negotiate with your lenders on your behalf, paying them back using the funds that accrue in your savings account. Typically, people who choose payday loan debt settlement find the process takes between six and 18 months, after which they become debt-free. The exact time it takes to clear your debts will depend on a number of factors:

1. The total indebtedness you have
2. The amount you can afford to pay into your savings account each month. This is usually calculated by considering your monthly income and expenses.
3. The negotiations between your chosen consolidation company and your lenders. Most lenders recognize that it is better to get some money back from you than none at all and are willing to enter into discussions with the consolidation company.

Find out more about loan consolidation and your probable monthly payments if you choose this route by calling our toll-free number and speaking to a representative.

Be debt free

Be Debt Free
If you are struggling to manage your commitments , there are really only two options – file a bankruptcy or pay back the loans. Bankruptcy allows you to erase your debts, but you will have a negative mark on your credit record for up to ten years. This really should be a last resort. The alternative is to consider hiring a company like Green Touch to negotiate on your behalf and help you pay off the loans.

Payday loan lenders tend to be very strict about ensuring you repay your loans on time, so take action before you incur penalties and get into more serious debt. Complete our online application form or call our toll-free number and speak to one of our representatives.

Green Touch Addresses

5050 Quorum Drive Dallas, Texas 75254
18851 NE 29th Avenue Aventura, FL 33180