 TITLE: What Is a Payday Loan and How Does It Work? CONTENT: Are There Options to Help Pay off My Payday Loan?\n-------------------------------------------------\nDebt consolidation is an option to help you repay a payday loan debt, even if you have bad credit. While bad credit debt consolidation loans have stricter approval requirements, they typically charge much lower interest rates and fees than payday lenders. They also tend to offer longer repayment terms, giving you more breathing room.\nBecause it typically offers a lower interest rate and longer repayment term, a consolidation loan can have a lower monthly payment to help you manage your debt repayment. Additionally, the debt will show up on your credit report, which can help you work on building your credit score as long as you make loan payments on time. END