Cost-Effective Debt Relief Solutions
Taking out payday loans may have been necessary at some point in your life to cover critical expenses. However, they carry very high interest rates, and if they are not repaid, the carrying charges can quickly consume your income.
If you have significant amounts of payday loans and other unsecured debts, filing bankruptcy may be the solution for you. Bankruptcy can eliminate or reduce your levels of unsecured debt, giving you greater cash flow that can enable you to cover your living expenses and remaining debts.
At Minnillo & Jenkins, CO. LPA, we regularly use the bankruptcy system to obtain the discharge of payday loans and other unsecured debts. Our firm provides cost-effective representation and responsive service.
Contact us today to learn more about your debt relief options.
Payday Loans Are Dischargeable In Bankruptcy
Payday loans, along with credit card debts, medical bills and personal loans, are usually unsecured debts. In contrast, a car loan or home mortgage is a secured loan, because the borrower has pledged property in return for the loan.
As an unsecured debt, a payday loan can
be discharged in Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, any remaining payday loans will be discharged at the end of your repayment period. Minnillo & Jenkins, CO. LPA, can lift the debt burden from your shoulders. Get legal help today.
Personal loans you get from lenders, family members and friends are dischargeable in bankruptcy, too. However, you may not want to default on loans you have gotten from family and friends.
Before filing Chapter 7 bankruptcy. you may wish to repay those loans from family members or friends. However, there can be severe consequences if you do so. You should get legal advice before paying a loan to a family member or friend. An attorney at our firm can review your situation and provide guidance.
Free Consultation With A Lawyer
Contact our firm for a free initial consultation about discharging payday loans in Ohio. Bankruptcy lawyers at Minnillo & Jenkins, CO. LPA, want to help you get a fresh financial start.
We are a law firm and a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
Category: Payday loans