I have 3 or 4 payday loans that I took out about 3 or 4 months ago because I really needed the money, and I ruined my credit score trying to apply at different places. I could not get the traditional credit. It was the only choice. I made a couple payments but then I decided to put check stops on the payments because I realized there was no way out other than not to pay them. My question is, (now that I am doing better) is there a way to settle with these companies and pay the original balance/interest that I owed for the first original 2 weeks? In total, I believe I took about $1500, give or take. Of course, this was 3 months ago, and they may say I owe 5,000. Can any attorneys help? (Please don't charge too much - as you can tell I am already in debt) =)
Debt / Lending Agreements Lawyer
There is a way to address this debt in a low-cost manner that does not involve bankruptcy. You can call me for free cpnsultation.
This comment is given for educational purposes only. No attorney-client relationship exists between us.
Chapter 7 Bankruptcy Attorney
Pay Day loans have extraordinary interest rates. The balances can jump dramatically. It is frequently impossible or improbable to retire them. Bankruptcy or at least a Chapter 13 is options.
Only if the debtor agrees (not likely). Courts will hold you to what you agreed to ( that contract you signed) so long as the fees and interest do not offend public policy in your state.
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You can always offer something like this and see if they accept.