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Man Falling Behind On Payday Loans Gains Control Over Finances After Filing Bankruptcy

A man in his late 20s from Parma, Ohio found himself in a worsening financial state after taking out a series of payday loans. When the payment for his first loan was due, he was unable to pay it. From there he took out another payday loan to pay for his prior loan and continued to do so with six different attempts, in a vicious and somewhat never ending cycle. Falling behind in rent and open to quick solutions, the man took his case to Luftman, Heck & Associates’ bankruptcy attorneys.

Our Cleveland attorneys listened to the man and were sensitive to his concerns. Realizing he was up for eviction at his present apartment, we advised him to file Chapter 7 bankruptcy, the best option for his situation. This solution erased the entirety of his payday loans and even delayed his eviction four months. During this time, he was able to find a new apartment that he could afford in the long-term and was not required to pay for rent at his current residence. Filing bankruptcy allowed him to start completely over and secure his financial future.

Prior results do not guarantee a similar outcome in your case. Individual results may vary based on the facts, injuries, jurisdiction, venue, witnesses, parties, and other factors. The results and client testimonials provided are not necessarily representative of the results obtained by all clients or their satisfaction with the firm’s services.