The Unfortunate Truth about Payday Loans

Payday loans are small loans given to borrowers to make ends meet until the next paycheck comes in. The problem is that recipients pay high interest rates on these loans. To date, 13 states have outlawed payday loans because of the economic instability they create.

The problem with payday loans is that they build a cycle of debt that is inescapable, creating a debt cycle that sucks a person in and never lets them go. If this scenario is true in your case, consider filing for bankruptcy.

If payday loans have put you in a tight place, contact a Dallas Debt Relief lawyer at Engel Law Firm. We offer the right kind of bankruptcy counseling, and can prevent aggressive debt collection agencies from harassing you night and day.

Our process will begin with an initial consultation to determine your financial situation and the best steps for correcting it. Your attorney works with you to decide how to proceed. All of your questions will be answered, without any legal jargon, and your journey to healthy credit will begin.

Act now to seek the legal aid you need due to unfair payday loans. Contact the Dallas Debt Relief lawyers at Engel Law Firm for help.