Most people are speaking about the economy and how businesses and their employees are suffering. Many businesses have closed down; others have lain off a sizable portion of their workforce.<br/><br/>For plenty of folks which means finances are tight and finding financial help may mean a trip to the local strip mall to view a payday lender and a level quicker trip into an income advance trap. Because while other individuals could have been hit hard by the economy, payday lenders are certainly one of several businesses that aren't seeing the same economic decline that other industries are seeing.<br/><br/>Payday Lenders and Economic Impact<br/><br/>Payday lending is focused on extending cash loans to desperate individuals, typically people that have poor credit who have no other option as traditional lending sources are tightening their belt. Unfortunately, what this does is encourage many hard working Americans to overextend their finances and enter into the never-ending downward spiral of payday loan hell.<br/><br/>Yes, there is a area for payday loans especially in the current payday loan consolidation economic climate and especially considering the fact that the most recent figures from the Community Financial Services Association (CFSA) and financial analysis firm Global Insight indicate that there are approximately 23,000 store front payday lenders providing about 155,000 jobs round the country. And this doesn't consider the vendors and suppliers that support the PDL industry and are, therefore, positively impacted, too.<br/><br/>Unfortunately, way too many borrowers wind up needing help. And that's where payday loan consolidation services may come in handy.<br/><br/>PaydayLoan Solution Services Thrive, Too<br/><br/>When payday lenders prosper, so do the payday loan consolidation services. However, along with payday consolidation there is a better option: payday loan resolution.<br/><br/>Paydayloan consolidation services help individuals who are in over their heads with too many payday loans by bringing their debts together into one monthly payment. It is very important to keep in mind that payday debt consolidation is different as payday debt resolution.<br/><br/>A debt consolidation companies take all your overall financial obligations and combines them into a single loan amount enabling you to make one combined monthly payment. Unfortunately, the word of the loan is normally longer, the interest rate can be high, and it is all done without reducing your current payday loan obligation.<br/><br/>On another hand, a payday loan debt resolution company will focus only on your payday loan debts. A respected and qualified company works with your payday lenders to negotiate and reduce the full total amount you owe in order to eliminate your overall cash advance burden inside a six to 12 month time frame.<br/><br/>A reliable debt resolution company can offer you the chance to really find PDL relief quickly and affordably, usually at a much reduced rate over what you would owe in the event that you continued trying to pay off your loans on your own. Ultimately it's a much better solution.