Can you file Bankruptcy on payday loans and discharge them? LEARN MORE!
Can you file bankruptcy on payday loans? Many debtors find themselves in need of a quick-fix type of loan due to medical bills, car repairs, or whatever. Because they may have poor credit, they are enticed to take out payday loans. A payday loan is a short-term general loan dependent upon the debtor being employed. They usually have relatively high annual interest rates and are generally due within the next pay period of the debtor. Often the debtor for these loans must allow payment in the form of a direct debit from the debtor’s bank account.
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