You can most likely benefit from a payday loan consolidation plan if youвЂ™re stuck in the payday loan trap. Listed below are a number of some great benefits of consolidating the debt.
1) Reduced fees and / or interest prices
Payday loans can have astronomically high rates of interest. In reality, usually these kind of loans have APRs of 300-400%! a credit that is typical APR range is 20-30%, so that itвЂ™s easy to understand why numerous fall under the trap.