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Los Angeles Payday Loan Attorneys
Payday Loans Can Devastate Consumers
While payday loans may offer short-term solutions to debt problems, they can lead to devastation and overwhelming debt for people who may already be struggling. Payday loan companies often profit off of other people’s financial misery. If you have taken out payday loans, you were probably in a desperate financial situation, needing quick cash from any resource. Unfortunately, the excessive fees associated with payday loans only make the financial crisis worse for most people. You may now find yourself in more debt. Rather than solving your problems, a payday loan has contributed to them. We have seen many cases in which consumers return again and again to the payday loan “solution” until the fees, interest, and penalties for late payments become financially disastrous.
There are alternatives to this scenario.
You may feel trapped and believe no one can help you with your current financial situation. Weintraub & Selth, APC is a Los Angeles law firm focused exclusively on real debt relief.
We offer comprehensive debt relief options including, but not limited to:
- Debt consolidation
- Debt negotiation and settlement
- Foreclosure defense
- Civil litigation related to collections
Solutions to Payday Loan Debt
Bankruptcy is one solution for payday loan debt. Payday loans are unsecured debt. There is no collateral that can be seized by the lender. Because of this, they are typically discharged under Chapter 7, Chapter 11, or Chapter 13 bankruptcy. Chapter 11 and Chapter 13 are often used to help people save their assets and catch up on certain past-due debts. Chapter 7 involves liquidating some assets and paying creditors an agreed amount that is typically lower than the total amount owed.
Auto loans and home loans have collateral that a lender may try to repossess. With unsecured debt, however, there is no tangible collateral to secure the money you owe. Therefore, there is nothing for the lender to repossess. In most cases, unsecured debt is discharged in bankruptcy.
Payday loans and other short-term loans with high fees often lead to devastating consequences. The state of California aggressively regulates these businesses and punishes them for misconduct, but there are still many unethical companies that prey on financially desperate people. Often, the people who rely on payday loans do not have the money to repay the loan by their next payday. When this happens, the loan renews itself with additional fees and penalties. It only takes a few weeks for the debt to become unmanageable. Avoid this trap or, if you are already in it, there is hope.
Call the attorneys at Weintraub & Selth, APC at (310) 220-4147 for real debt relief.
Thousands of Cases Handled
Our experienced attorneys have successfully represented thousands of businesses and individuals with financial problems.
We Offer Cost-Effective Expertise
Flexible fee arrangements enable small and mid-sized businesses to obtain the type of relief usually reserved only for large companies.
Big Firm Experience at a Boutique Price
Our lawyers have big firm training and expertise offered to clients in a cost-effective, boutique firm environment.
A Full-Service Bankruptcy Law Firm
One of the few true full-service bankruptcy firms in Los Angeles specializing in all chapters of the Bankruptcy Code and out of bankruptcy solutions.
"If you are a business owner going through difficult times and need help restructuring or closing your doors, this is the law firm to work with."- Paul Trump
"He also gave me his honest opinions on what paths we could take, what would be a good use of my money and what would not, which I appreciated after having gotten an expensive runaround from the previous attorney."- Lynn L.
"We were both blown away by your compassion and drive to help us get in a better position. You gave us our lives back."- Craig & Claudia
We can help you find clarity and peace of mind so you can move ahead to a positive future with your financial situation under control.