Nashville, Clarksville, Murfreesboro, and Middle Tennessee High Interest Loan Attorney
So many Americans live paycheck to paycheck to pay their bills and support their families. Increasingly, people are turning to "payday loans" to get money immediately. Payday lenders are allowed to charge interest rates that are far higher than any bank. The APR (annual percentage rate) for payday loans can easily exceed one hundred percent.
While the payday loan industry states that most people do not use their services frequently, the facts tell a different story. In many cases, people can end up owing payday lenders far more than they ever borrowed. This can create a vicious cycle.
One way to break this cycle is through filing bankruptcy. At the law firm of David F. Cannon, our lawyers are talking to increasing numbers of people with severe debt problems caused in part by issues with payday loans.
Payday Loans Are Dischargeable in Bankruptcy
If payday loans, interest and fees are becoming impossible for you to repay, it is important to understand that these debts can be discharged in bankruptcy. In Chapter 7 bankruptcy, these debts will be wiped clean, and you will have no obligation to pay any part of these debts. If Chapter 7 is not right for your situation, you can pay a portion of these loans back in a Chapter 13 payment plan.
Before we file bankruptcy for you, we will take the time to inform you of all of your options under the law. We know that bankruptcy is a powerful tool, but will not advise you to file bankruptcy unless it is in your best interests.
Contact a Nashville Payday Loan Attorney at the Law Firm of David F. Cannon
Do not let payday loans cause any more problems in your life. Call 615-800-3725, toll free at 877-696-8680, or e-mail our law firm to schedule a confidential appointment.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
