Legal Question in Credit and Debt Law in Iowa

payday loans

I have got into financial difficulty with payday loans - I have around five agoing in which I keep going and borrowing from one to pay the other. I am really stressed out because my credit is not good - I just need to know if I should get legal help whereby I stop payment on the checks and then have someone offer payment. These all total around $500 and I really want to try and pay and not take bankruptcy but if I do not do something I am going to lose everything.


Asked on 2/14/07, 12:06 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

Re: payday loans

Stopping payment on the checks could result in criminal or civil action being taken against you. Contact a credit counselor or bankruptcy attorney instead.

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Answered on 2/21/07, 10:29 am


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