TX payday loans
Question Details:
I have 5 payday loans - looking to 'yourpaydayloanhelp' in getting these consolidated. Suggesting closing bank account; is this legal in the state of Texas"? Is this a reputable company for me to deal with in resolving in my drowning of these internet payday loans?
Bankruptcy Law Answers
Closing a bank account is not itself illegal and post-dated checks given to payday lenders for them to hold onto "just in case" are treated differently than a regular check that bounces.
I have no first-hand experience with that company but it looks like they are going to consolidate your loans for you. This results in one huge payday loan instead of several smaller payday loans. Other than a modest reduction in the interest rate, I don't see how it helps much. They still will insist on being paid, and they'll still be deducting from your checking account.
Why not just erase all of the debts with a bankruptcy and get a completely fresh start? Seems easier and WAY cheaper.
Rustin Polk
Dallas Bankruptcy Lawyer
http://www.214bankruptcy.com
Related Bankruptcy Questions
- Graduates in Bankruptcy: Student Loans and Bankruptcy Law
- What can I do if I have bad credit but I want to obtain a home loan?
- Can I discharge my student loans by filing for bankruptcy?
- What if My Employer Doesn't Pay What I'm Owed?
- What is the difference between a fixed interest rate and a variable interest rate?
Didn't find your answer? Ask.
Top Ranking Attorneys
- Hong Shen206 Answers|Points 10300Gold Contributor
- Joseph Gasparrini46 Answers|Points 2200Bronze Contributor
- Kelly Broadbent81 Answers|Points 4000Silver Contributor
- Russ Pietryga76 Answers|Points 3750Silver Contributor
- Shawn Jackson17 Answers|Points 850Bronze Contributor
- Glenn M. Lyon, Esq.26 Answers|Points 1280Bronze Contributor
- Hong Shen206 Answers|Points 10300Gold Contributor
- Kelly Broadbent81 Answers|Points 4000Silver Contributor
- Russ Pietryga76 Answers|Points 3750Silver Contributor
- Sharon Siegel62 Answers|Points 3090Bronze Contributor
- Michael D. Siegel56 Answers|Points 2750Bronze Contributor
- Paula McGill50 Answers|Points 2500Bronze Contributor
Are you a lawyer?Want to be featured here? Sign up for a free profile and get started today! Click Here
More Questions Like This...
 |