Beware Of Payday Loan Companies
We’ve all seen them around Fort Worth: payday loan companies that offer you an advance against your income so you can pay your bills. While this may be tempting if you find yourself in a financial bind, the terms of these loans are often terrible for consumers.
Another temptation to pay a bill or get some extra cash is to overdraw your bank account or credit card, and allow the financial institution to cover the difference for you. This can also lead to more costs than you might realize, setting you even further back in the long run by adding to your debt.
Some Solutions Are Too Good To Be True
While having a payday loan for just a few days might not seem like a problem, the interest rates on these products are astronomical. If you do not pay the loan on time, you could end up paying exorbitant fees in addition to large amounts of interests.
If you are being battered by interest on payday loans and bank fees, you may want to consult with me, Lindsay D. Steele, at my law firm. As a bankruptcy attorney serving people in Fort Worth, I have seen the toll that hidden bank fees and payday loan interest have taken on hardworking people who are doing their best to stay afloat.
Filing for bankruptcy should not be considered a defeat. Many people have gone through the process, entered into an agreement for debt settlement and emerged on the other side with a clean financial slate. Whether it’s Chapter 7 or Chapter 13, a lawyer can help you to get you back on your feet.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.