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Payday Loans Relief

Without expert assistance, finding relief from these predatory loan scams can be impossible. Fortunately, DebtStoppers has helped thousands of people like you escape payday loans (and the rest of their debt, too!). Call or text us today to claim your complimentary financial analysis with one of our experienced debt relief attorneys. Relief is just a call or text away!

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Payday Loans


Find Payday Loan Debt Relief in the Different States

Chapter 7 bankruptcy can offer the relief you need by freeing you from the clutches of unscrupulous lenders. In fact, bankruptcy laws were created to help families like yours get out of debt and back on the path to financial success.

Chapter 7 allows you to wipe your slate clean and start fresh by eliminating your unsecured debts, such as payday loans. Despite what people say about bankruptcy, most of our clients can obtain relief while keeping most — if not all — of their personal possessions.

The Reasons for Payday Loan Debts

Payday loans are small-dollar advances with excessive interest rates and substantial fees. When you borrow from one of these lenders, you'll write a post-dated personal check or authorize an electronic bank transfer for a later date, usually when you get your next paycheck.

The check or transfer amount will always include a large fee on top of the principal borrowed. After you write the check or authorize the transfer, the lender gives you the cash.

When the due date rolls around, you have two options:

Every time you choose the second option, the lender will assess an additional fee. And then the cycle starts over again. Roll over your loans a few times, and you're looking at a substantial amount of debt.

Many lenders will also require you to sign a voluntary wage assignment. This means that if you can't make payments, the lender can garnish your wages without filing a lawsuit.

All You Need To Know About Payday Loan Debt Negotiations

Some moneylenders may agree to negotiate with you if you stop making payments and show that you genuinely can't afford to pay back the loans you owe, but many have strict no-negotiation policies. Even if you get a lender to agree to negotiation, they are notorious for their unwillingness to offer a reasonable settlement for these loans. While you can always attempt to negotiate, this route rarely is successful.

What Are Your Options for Settlement?

While some states require that payday loan companies offer extended payment plans to borrowers who are in over their heads, most don't. Even if you can secure one of these elusive repayment plans, the debt from your loans isn't going anywhere; you'll just have longer to pay it.

Chapter 7 bankruptcy is the only option that provides you real relief from your payday loans. As one of the largest Chapter 7 filers in the country, DebtStoppers can help you break free of this cycle. Call or text us today to schedule a free one-on-one consultation with one of our skilled debt relief lawyers.

If you're trapped by payday loans, it's not too late to find freedom! Call or text DebtStoppers to request a free assessment today!

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