Law Office of James L. Keenan

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James Keenan Law

Contact me for a free consultation!

PH 916.448.6923

TXT 916.715.6145

EMAIL James now!

Contact me for a free consultation!

PH (916) 448-6923

TXT (916) 715-6145

EMAIL James now!

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Payday Loan Debt

 Payday loan debt is a problem. It is a big problem. And as the payday loan industry rivals fast food restaurants in numbers, the problem is growing. Payday loans are loans borrowed against your paycheck. They can be taken against any postdated check you write. A borrower goes into a payday loan business and writes a postdated check for $350. In return, the customer gets maybe $300 in return. That's on a good day. If the postdated check does not clear when promised, interest begins to accrue. Big time. Average payday loan interest rates are around 450%. On top of the cut the business gets making the loan in the first place, it spells ripoff.

But payday loan debt ripoff is a price, literally, people are willing to pay. To get over a hump. To handle an unexpected bill. Coping with a temporary income loss. All are examples leading people to payday lenders. It is true in Sacramento, as this Sacramento Bee story points out, and it is true elsewhere. Seemingly, it has become a necessary evil for many in today's world.

Perhaps the economy is not as good as portrayed. Maybe it's that incomes have not kept up with costs. Whatever the reason, payday loan debt is likely here to stay. But must they do as they do? By their very nature, payday loans are predatory. They have carved out an exception to what once once known as usury, supposedly as an allowance to cater to low-income borrowers. But everyone pays the same. No matter how you slice it, though, they are bad deals. Online lenders are even worse.

Can you eliminate payday loan debt in Sacramento? Yes, whether you live in Sacramento or somewhere else, payday loan debt can be eliminated in a bankruptcy. If you owe debts from payday loans, and you don't see a way out, bankruptcy may be your solution. Contact me through SacBankruptcy.com to evaluate your options. Its a free consultation, so you only have your payday loan debt to lose. Contact me for a free consultation.

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Rising Credit Card Debt

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Law Offices of James L. Keenan

2600 H St. Sacramento, CA 95816

Phone: 916-448-6923

Fax: 916-442-6524

Email: jameslkeenan@aol.com

Office Hours: Monday – Friday 8 a.m. – 5:30 p.m.

Evening Appointments Available

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Disclaimer: The legal information presented at this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney client relationship. Any results set forth herein are based upon the facts of that particular case and do not represent a promise or guarantee. Please contact James Keenan personally for a consultation on your particular matter. This web site is not intended to solicit clients for matters outside of the state of California.