http://www.cashloaninfo.com/bad-credit-loan/debt-consolidation-loan.html A debt consolidation loan against your paycheck is a great way to fall into massive amounts of debt. There are better ways to go about getting a debt consolidation loan. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 For many of us living paycheck to paycheck, we see our income simply as a debt consolidation loan - we're living on credit, living off debts, and when payday arrives we can finally pay our dues. But what happens when we fail to keep pace and need a boost before payday? We have a choice: we can apply for that payday advance and use it as a debt consolidation loan , or we can search for legitimate debt consolidation companies to help us fight these debts once and for all. The difference in a debt consolidation loan Yes, a payday loan can be used to consolidate small, temporary debts. But companies specializing in debt consolidation loans can help you and your debt problems much, much better: They will consolidate huge amounts of debt with a single debt consolidation loan, whereas your cash advance might be for at most $1500, which won't pay off much at all. These companies will also negotiate down the interest you will have to pay - payday advances charge on average $20 per $100 you withdraw every two weeks yo hold onto the loan. That comes out to about a 520% APR, and no debt on Earth will carry that high of a rate. Some companies will even go so far as to coach and carry you all the way toward debt elimination - meaning not only will you be out of debt but you won't even need to apply for a bad credit personal loan again. Wait - where did bad credit suddenly come from? Assumptions of course! Lenders assume that everyone looking for debt consolidation has bad credit, meaning they will probably only find bad credit loan opportunities, meaning higher rates and fees Still, if you are struggling with debt you cannot relay on a fast bad credit loan against your paycheck - because even the most disadvantageous debt consolidation loan will prove much more affordable and must less stressful than any comparable payday advance. So don't apply for that bad credit military loan no matter how deep in debt you are, young soldier! Because there is always a better way to beat this thing, and beat it so it never returns. Sat, 26 Jul 2008 15:00:00 EDT