Can Bankruptcy Discharge Personal Credit And Payday Loans?

The allure of a payday loan is the ability to get fast money when you need it most. Payday loan companies advertise convenience and easy credit. But many borrowers quickly find out that the financial cards are stacked against them.If you have significant debt from payday loans and personal credit, you should talk to a bankruptcy lawyer to find out about your specific options.
Free consultation: At the Salt Lake City bankruptcy law firm of Gregersen Law, we help people achieve debt relief through Chapter 7 bankruptcy and Chapter 13 bankruptcy. To schedule a no-cost consultation at our law office in Salt Lake City or Clearfield, please complete our online contact form.

Can I Discharge Payday Loans In Bankruptcy?

Payday loans may seem like a good deal when you're strapped for cash, but high interest rates and fast repayment requirements make payday loans very risky.

Bankruptcy can eliminate both payday loan debt and credit card debt. We can help you determine what type of bankruptcy is right for if you have personal credit or payday loan debt:

  • Chapter 7 bankruptcy — This type of bankruptcy wipes out debt and allows individuals to make a fresh start.
  • Chapter 13 bankruptcy — When an individual files Chapter 13 bankruptcy, an affordable payment plan is established, where a portion or all of the remaining debt can be paid off over a three- to five-year period.

If you are overwhelmed with debt, remember that bankruptcy can put the odds back in your favor. Bankruptcy relieves many types of debt, allowing you to make a fresh financial start.

Personal Credit And Payday Loans In Bankruptcy: Contact Us For Debt Relief Help

If you are dealing with overwhelming debt and want to talk to a lawyer in a no-cost consultation, please call (801) 747-2222. We make payment easy — through debit cards and payment plans.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.