QUESTION
I live in Missouri hv 10 online payday loans. closed my checking account because overdrawn, will I get in trouble
Asked on Jun 21st, 2011 on Debtor and Creditor - Missouri
More details to this question:
I have called all of the payday loan places they still want the same payments even though I am not able to pay out over $1,000 each pay check. If I just pay there fees this will go on for years. I have tried to get a loan on house but credit score to low. I really dont know what to do.I even considered bank ruptcy because of credit card debt, but dont owe on my house and was told I would probably loose it.
1 ANSWER
3 Awards
You may want to consider settling your debts if your home equity prevents you from filing chapter 7 bankruptcy. You can keep your home in a chapter 13 bankruptcy, but whether or not the costs outweigh the benefits is hard to say without more information. I do suggest contacting a bankruptcy attorney and taking advantage of a free consultation. If you have a lump sum, you may be able to settle your payday loan debts for much less than you owe. If you get a large tax refund you may want to consider using those funds,
Answered on Nov 10th, 2011 at 4:56 PM