Instead of not paying attention to a delinquent payday loan and thereby damaging your credit score, think about these alternatives to pay off the online loans @PaydayChampion:

  • Apply for an credit from a peer to peer. If your credit score is low, a peer-to-peer loan is worth considering. The products are offered on lending platforms that connect potential borrowers to investors who are willing to lend money from you for reward. You’ll typically be able to compare multiple loans in one application and in most cases, you’ll have to show proof of the income or assets in order to be accepted.
  • You can get the consolidating loan. The debt consolidation loan permits you to consolidate high-interest debts in one loan with lower interest rates. The majority of debt consolidation loans come with fixed rates of interest that allows you to make regular monthly payments for a predetermined time. The most competitive terms for loans are only available to those with excellent or good credit. Even if you have less than perfect credit scores, your rate may be lower than the one you got with the payday loan.
  • Take a look at a short-term, cash loan for emergencies. Credit unions as well as some community banks usually offer short-term loans for emergencies as payday loan options. They’re typically offered with lower rates of interest and for smaller amounts of money which are limited to $1,000 and don’t need a credit verification for approval.
  • Join a Debt management program (DMP). This should be considered in the last instance if you’ve exhausted your alternatives. DMPs are offered through non-profit organizations. Credit counselors will contact lenders on your behalf and come up with a repayment plan that is compatible with your budget. You’ll be able to pay off the principle balance completely however, the drawback is that signing up for DMP DMP could cause other lenders to close account with credit cards, which could cause additional credit damage.

You can also talk with family members and friends or seek ways to alter your budget to pay for expenses, such as temporarily removing streaming subscriptions, or switching to a smaller budget for food.


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