Legal Question in Credit and Debt Law in Nebraska
what do i do when i can't pay back a payday loan. i have seven loans totaling $3325.56
Asked on 8/05/12, 5:48 pm
1 Answer from Attorneys
Matt Jenkins
DeMars, Gordon, Olson, Zalewski and Wynner
As with any debt that you cannot pay, they can sue you and try to collect on that judgment by garnishing your bank account or wages. If you have nothing to lose (ie: no job and no money in any bank accounts), then you don't have anything to worry about (though there is an outside chance that they can try to take your car or other personal possessions). If you have something to lose, you should set up an appointment with a bankruptcy attorney to determine if it is right for your situation.
Answered on 10/01/12, 7:08 am