Is it a good move to take out a personal loan to repay payday loan?

The interest rate on a personal loan is lower than a payday loan. As you know, the interest rate on a payday loan is between 300% and 500%. I do not know how much you are paying on the loan. Yes. You can pay off the payday loan with a personal loan. However, there is yet another option that you can try. You can try to settle your payday loan debt.

If you're struggling to repay a payday loan, then taking out a personal loan with a lower interest rate and using it to repay the payday loan may be a good option.

It will help you to save dollars on the interest rate.

No doubt, interest rate of personal loans are usually much lower than that of payday loans. But to take out a personal loan at a preferable interest rate, you need to have a decent credit score. So, I would advise you approach a genuine debt relief company to get rid of payday loans with ease. Call 800-DEBT-913 for immediate debt help.