OAKLAND PARK, Fla., Jan. 18, 2016 /PRNewswire/ -- Abused consumers trapped in; is there hope for victims in search of relief, asks NationalPayday Loan Relief?
A recent pattern reveals lenders target demographics, as a nation outraged, by multi-billion dollar loan industry, calls for immediate action
The battle to free millions trapped in abusive lending terms proves effective as advocate companies bring financial relief to consumers nationwide. Although efforts been successful, predatory lenders continue to use unscrupulous tactics to lure consumers in to signing for unsecured loans, exploiting the need for financial assistance. The loans typically carry triple-digit interest rates and incur high penalty fees for missed payments. When a payment is missed, consumers will use another loan to cover the costs of the original – A debt cycle, or debt trap, impossible to escape. Recently, the Consumer Financial Protection Bureau (CFPB), and advocate companies, such as the recently founded National Payday Loan Relief.com, have focused their attention on assisting victims in settling their debt -- and exposing the dishonest nature of predatory lenders to prevent further incidents from occurring. In an article, recently published in the Wall Street Journal, the CFPB announces its plans to federally regulate payday loan companies -- A multi-billion dollar industry, enforced by its own states laws. This lack of organization, allows lenders to distribute loans to individuals living in a state where lending is banned.
Although, options may be limited for some, National Payday Loan Relief.com is urging consumers to adjust their budgets, and monitor their spending habits, if possible, and avoid any un-necessary borrowing until regulations are put in place.
"While loans fill a need in a time of financial hardship, the sad reality is that many people resort to them as a temporary fix but end up in an ever-mounting debt cycle that is impossible to break. We assist our clients, in an ethical and moral way, to exit the cycle and get their financial lives back in order," Chantelle Morman, COO, Consumer Capital Advocates, LLC.
For consumers facing incredible amounts of debt, efforts are underway to provide relief. National Payday Loan Relief.com (PDLR) has been around for two years, assisting consumers overwhelmed with Payday loan debt. The company is strongly supported by a staff of professionals with over 20 years of experience in the debt mitigation industry. PDLR has helped thousands of clients with, not just pay day loan debt, but any unsecured debt, such as credit card and medical bills. PDLR also provides clients with legal protection and security for the duration of the program.
For More Information on debt relief, please visit:
www.Nationalpaydayloanrelief.com | (888).407.4521
SOURCE NationalPayday Loan Relief