Payday and Title Loans
Hampton Bankruptcy Lawyer Provides Counsel and Support
Sometimes, people simply fall short on payments and require a little extra help to make ends meet. Payday loans offer individuals the opportunity to pay debts by taking out small loans. In order to obtain a payday loan, a person will be required to provide proof of payroll or employment records.
While these advancements seem alluring up front, they can be incredibly dangerous. Most payday loans have a set net default rate of at least 6% and may end up costing significantly more than the paycheck would have provided. Hampton and Newport News residents who have relied on payday advancements may find themselves caught in a vicious cycle of debt that cannot be repaid. If you are drowning in debt and cannot find relief, you need to contact a Hampton bankruptcy attorney from the Law Office of Philip R. Boardman, P.C. today and seek experienced legal counsel from our staff.
Eliminating Payday Loans
Are you are in debt from significant payday loans? If so, then you may be able to eliminate them through bankruptcy. One of the benefits of bankruptcy is that all non-secured debts will be discharged. You will no longer have to worry about making payments on loans that you can no longer afford.
Depending on the bankruptcy that you decide to file under, your particular situation may vary, but when you work with our firm, we will thoroughly evaluate your financial situation and determine if filing for a complete bankruptcy under Chapter 7 or receiving a payment plan under Chapter 13 would be most appropriate for your case. When you find yourself facing high interest rates and large amounts of debt simply because of payday advancements, you need to work with our team as soon as possible.
Can title loans be eliminated in bankruptcy?
Automobile titles and other secured debts cannot always be completely eliminated in a bankruptcy. At the Law Office of Philip R. Boardman, P.C., we will look at your contracts and determine if the lien can be discharged in a Chapter 13 bankruptcy or if you will have to continue to make full payments on the title.
Sometimes in Chapter 13 bankruptcy, you will be required to make minimal payments in accordance with your predetermined court payment plan, but once the payment plan is complete, any remaining payments can be discharged. Details of payment plans vary from person to person, so it is important that you work with a bankruptcy attorney to determine if this loan can be eliminated from your payments.
Representation in Hampton
Are you ready to get yourself out of debt? By working with the Law Office of Philip R. Boardman, P.C., you can begin to move forward with your case and ensure that your financial future is bright. Our firm is dedicated to assisting clients in obtaining the best possible resolutions to their cases, and through quality legal counsel, we will determine the best course of action to take in your particular situation.
If you have questions or concerns, do not hesitate to contact a Hampton bankruptcy lawyer from the Law Office of Philip R. Boardman, P.C. today and schedule a free case evaluation with a skilled attorney. We stand ready to assist you in your time of need!