Legal Question in Credit and Debt Law in California

Advance Payday loan default

I was running short on cash and decided to use a payday loan to get by not knowing the downfall. I paid alot of interest and never paid the principal down for an entire year. I got in more financial trouble and ended up getting 6 payday loans. I paid over $600.00 in interest each month for the past 9 months and I am really falling behind on my bills and my family is starting to suffer. I opened up another bank and I am letting everytning bounce. What are my options, I can not afford to continue this direction and I can't afford to pay them back right now. Please help.


Asked on 8/30/04, 11:30 pm

1 Answer from Attorneys
Joel Selik www.SelikLaw.com

Re: Advance Payday loan default

It might be time to consider bankruptcy or negotiating a payoff with this company.

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Answered on 8/31/04, 10:26 am


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