Payday Loan Debt

Payday loans are considered to be unsecured debt and can be wiped out in bankruptcy. They are a loan of cash and it doesn’t matter if you borrowed locally or online.

You cannot go to jail for not repaying a payday loan. Debt collectors are ruthless – and many of these collectors are not located in the United States but are international, making it hard, if not impossible to pursue them for their violations of the Fair Debt Collection Act. They will tell you the police are on their way, that you wrote a bad check and will be arrested for it. That is completely false.

The loan itself can be wiped out and any NSF charges that may have accumulated on your bank account from the payday lender’s attempts to collect.

When we talk, we will discuss your accounts, what payday loans are attached, and whether or not you need to close these accounts – and most importantly when. Timing is key when discussing bankruptcy – so the sooner we can discuss your payday loan issues, the more options available to deal with them.