If you can inform which you're in and whether or not pdls are legal there. If the pdls are not legal, then you're required to pay the principal balance instead of the interest rate.
Don’t hire a debt relief company to consolidate your debts. At first you should know whether or not pdl companies are licensed in your state. If they are licensed, then you are liable to pay them both the principal and interest. In this case you may try to negotiate with them and set up a payments arrangement with your licensed lenders. But if they are illegal, then you owe them nothing more than the principal balance. Don’t pay them any interest or fees. In this case closing down your bank account would be the best option for you.
Consolidation should only work if your loans are legal in your state and if you owe both the interest rates and the principal balance. If they're illegal, don't opt for consolidation.
Which is the state you are in? Which are the PDLs?
If you can inform which you're in and whether or not pdls are legal there. If the pdls are not legal, then you're required to pay the principal balance instead of the interest rate.
Don’t hire a debt relief company to consolidate your debts. At first you should know whether or not pdl companies are licensed in your state. If they are licensed, then you are liable to pay them both the principal and interest. In this case you may try to negotiate with them and set up a payments arrangement with your licensed lenders. But if they are illegal, then you owe them nothing more than the principal balance. Don’t pay them any interest or fees. In this case closing down your bank account would be the best option for you.
You can consolidate your payday loans on your own by using your emergency fund or borrow from your loved ones.
Consolidation should only work if your loans are legal in your state and if you owe both the interest rates and the principal balance. If they're illegal, don't opt for consolidation.