Payday loans may be discharged through filing bankruptcy
Because payday loans are an unsecured debt, they can often be discharged in Chapter 7 bankruptcy. (“Unsecured debt” refers to debt that’s not tied to any collateral property and therefore there is nothing to be repossessed and sold to satisfy the debt.)
Once a person’s debt is discharged, that means they are never responsible to pay on that debt again.
Payday Troubles? Find a Bankruptcy Lawyer Today
Meeting with a local bankruptcy lawyer may be a great way to put your finances in perspective and find out what options could be available to you.
We make it easy to find a Chapter 7 bankruptcy lawyer. Just fill out our free bankruptcy case evaluation form and we’ll do the rest.