The Risks Of Payday Loans

Credit card and medical debt are two forms of debt that can leave a debtor feeling powerless. When struggling to make ends meet, a debtor may try and take advantage of a payday loan, not knowing that the lender is taking advantage of them. These loans come with enormously high-interest rates and predatory collateral as well. What is worse that a debtor may not have needed a payday loan in the first place.

At The Law Offices of Philip F. Counce, we help our clients explore the opportunities that bankruptcy offers. Bankruptcy has the potential to eliminate the need for a payday loan, and spare you the lengthy consequences of the loan as well. Before you sign an agreement for these loans, you should know what you are agreeing to.

Stop The Dependence On Payday Loans Now

Payday loans and check advances are the most menacing type of debt we encounter because they take away the income you need to pay for daily living expenses while charging your exorbitant amounts of interest. Frequently they seize money out of your bank account or force you into expensive refinancing that continues this cycle and your dependence on them. Many even make you pledge them the car you need to get to work. Bankruptcy can help stop these loans right in their tracks, end further deductions from your bank accounts, protect your car and free you from this cycle of dependence.

Payday lenders are not the best option if you are continually short of cash and unable to pay for daily necessities and utilities. You need to address the underlying problem so you do not need their costly help. Maybe you cannot afford your car payment, furniture payments and medical bills. Lowering these payments through Chapter 13 bankruptcy may very well be a better option to consider. Chapter 7 bankruptcy should also be considered to completely rid you of their scourge.

Choose Guidance You Can Trust

When a payday loan can leave you with far more debt than you borrowed. Do not make the mistake of assuming that a payday loan is the only method of overcoming your debt. If you are struggling with medical or credit card debt, come meet with us to learn more about how bankruptcy can help you.

Call us at 866-923-1788 or email us here to schedule your initial consultation today. The sooner you reach out to us, the sooner we can become helping you take control of your finances.

3333 Poplar Ave. – just West of Poplar & Highland – Free Parking

We are a Title 11 Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code. This ad does not create an attorney-client relationship until a written agreement is signed.