Most people are discussing the economy and how businesses and their staff are suffering. Many businesses have closed down; others have lain off a sizable portion of the workforce.<br/><br/>For plenty of folks that means finances are tight and finding financial help may mean a trip to the area strip mall to view a payday lender and a level quicker trip into an income advance trap. Because while others may have been hit hard by the economy, payday lenders are certainly one of a few businesses that are not 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 the never-ending downward spiral of payday loan hell.<br/><br/>Yes, there is a place for payday loans especially in the current economic climate and especially given that the most recent figures from the Community Financial Services Association (CFSA) and financial analysis firm Global Insight indicate 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, too many borrowers end up payday loan consolidation needing help. And that's where payday loan consolidation services will come in handy.<br/><br/>PaydayLoan Solution Services Thrive, Too<br/><br/>When payday lenders do well, so do the payday loan consolidation services. However, alongside payday consolidation there is a much better option: payday loan resolution.<br/><br/>Paydayloan consolidation services help individuals who are in over their heads with a lot of payday loans by bringing their debts together into one monthly payment. It is essential 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 usually longer, the interest rate can be high, and it's all done without reducing your current payday loan obligation.<br/><br/>On the other hand, a payday loan debt resolution company will focus only in your payday loan debts. A respected and qualified company will work along with your payday lenders to negotiate and reduce the total amount you borrowed from in order to eliminate your current cash advance burden within a six to 12 month time frame.<br/><br/>A competent debt resolution company can offer you the ability to really find PDL relief quickly and affordably, usually at a much reduced rate over what you should owe if you continued attempting to pay off your loans on your own own. In the end it's a better solution.