If you think "payday" loans are bad, consider a loan of $5,000 that requires you to pay back $42,000. Yes, that can happen in California.
Payday lender sentenced to 16 years in prison
The owner of a payday lending operation was sentenced to more than 16 years in prison, and the general counsel (attorney) for the business was sentenced to 7 years.(more…)
Can I get rid of payday loans by filing bankruptcy?
I'm often asked if someone can get rid of payday loans by filing bankruptcy. Let's take a look at this.(more…)
Will my payday loans be wiped out in my bankruptcy?
I've taken out several payday loans that I can't pay back and now I owe them a lot of money as well as owe a lot of other money. Will those payday loans go away if I file bankruptcy? (more…)