Payday loans seem to offer a quick fix to your debt problems by allowing you to essentially borrow money from your own paychecks. Unfortunately, this starts most people down a path where they never catch up — living not just paycheck to paycheck, but living one paycheck behind.
Worse, many payday lenders will tell you that you can't declare bankruptcy on payday loans, which is absolutely not true.
You can declare bankruptcy on payday loans.
Worst of all, some payday lenders claim they will have you sent to jail if you do not repay your loan.
You can't go to jail just because you can't pay your debts.
The New (And Illegal) Face Of Payday Loans In Washington State
Payday loans are not as common as they once were, and Washington state has placed a limit on the amount of payday loans that any one person can take out. However, many people throughout the Seattle area are still caught in this vicious cycle.
One of the newer problems people face is doing business with online payday companies. These Internet loan sites are often run by unscrupulous individuals who use fraudulent means to collect on your past due payments. In reality, online payday loans are illegal in the state of Washington, and these Internet companies have no legal right to collect on money owed. But this will not stop them from trying — unless you get an attorney involved.
As a Seattle payday loan bankruptcy lawyer, I am here to help. Whether you have secured a traditional payday loan or an online payday loan, I can assess your financial circumstances and help you determine if bankruptcy is the right option for you. Do not wait until you face wage garnishment or foreclosure. Contact me today and together we can obtain the debt relief that you need.
Tom Knox is an American businessman and politician. He was second in the Democratic nomination for Mayor of Philadelphia on May 15, 2007. He is notable for his pledge to spend up to fifteen million dollars of his own money in the race. After considering a run in 2008 for state treasurer, Knox announced his entry into the 2010 Pennsylvania...