Payday loans and Bakruptcy
A San Jose bankruptcy attorney comments on payday loans...
San Jose bankruptcy attorneys often hear about this from bankruptcy clients and Payday loans have recently made some appearances in the news. There has become an increasing amount of concern over the debt position these loans put consumers in. With interest rates often well over 500%, the fees for these short term loans are substantial. Due to the high fees, clients are often forced to roll over the loan payday after payday, causing the fees and interest to grow until it is out of control.
After these payday loans have piled up, we are often asked if they can be discharged in a Chapter 7 or Chapter 13 bankruptcy. Generally speaking, payday loans can be discharged in a bankruptcy, though it is best to speak with a lawyer in your area to determine the best way to eliminate your debt.
Payday loans are just one of many unsecured debts that can be wiped away through bankruptcy. Credit cards, personal loans, auto repossessions, along with other debts are all dischargeable in a bankruptcy. For more information on these read our other blogs or contact us for a free consultation.
If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down, stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs. Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.
