Get Relief From Payday Loans and High-Interest Charges

For a very high fee, a payday lender will loan you money on your next paycheck. If you do it only one time, you may be all right. But if you make it a practice to take out payday loans, you may never be able to stop. For this reason, a fast cash advance may be the worst financial decision you ever make.

Fortunately, help is available for people in this situation. The bankruptcy system enables a debtor to discharge payday loans, either entirely or in part. And once you file for bankruptcy, interest and penalty fees stop as well. You can get a firm handle on your finances and the possibility of a better future.

At Prescott Pearson & Tande, PA, we have helped thousands of Minnesotans discharge debts and find other forms of relief from payday loans, credit card bills and other out of control debts.

Payday Loans Are Dischargeable

Payday loan debts are unsecured debts, which make them completely dischargeable in Chapter 7 bankruptcy. Within a few months after you file, all outstanding payday loan balances could be liquidated. If you have payday loan debts under a Chapter 13 bankruptcy, you may have to repay some of those debts over the course of your three- to five-year repayment plan. At the end of your Chapter 13 repayment period, all remaining payday loan debts will be discharged.

An attorney at our firm can review your situation and explain how we can help you.

Title Loans

When you take out a title loan, you are pledging your vehicle as security for the loan. As a secured debt, a title loan is dischargeable under bankruptcy, but the lender will retain a lien on your vehicle. In other words, you can get rid of the loan only if you give up your car, unless we can obtain a reaffirmation agreement with the lender or they allow you to continue paying without a reaffirmation.

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  • Minneapolis-St. Paul Area: 651-968-8096
  • Minnesota Toll Free: 888-366-0827

Does it make sense to continue to make payments on your payday loans? Learn how Prescott Pearson & Tande, PA, can help you get debt relief. Contact us online today for a free consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.