What Happens If I Can't Pay Back My Ohio or Online Payroll Advance or Check Cashing Company?
There are many places in Ohio and online who offer payroll advances and check cashing to loan money until your next payday. These institutions charge heavy fees and interest and often become a trap for those who can't fully repay the loan out of their next paycheck. So they make it easy for you to pay them off and then immediately re-borrow the money (less their high fees and interest). Many people have no other source of obtaining money to pay overdue bills, prevent a repossession of their car or pay their mortgage. Over time, it is easy to wind up with accounts at several of these companies.
What happens when you can't pay them back? Their contracts are full of words to intimidate you, and to lead you to the impression that you can't file bankruptcy, or that if you don't pay them you will be guilty of passing bad checks. None of this is true!
The payroll advance companies and check cashing locations are very aggressive when collecting. They will not hesitate to try to overwhelm you with calls, and will contact your family, friends, even your employer. At Nobile & Thompson, we help our clients to understand the real nature of these businesses, and to find an effective solution. These agreements are simply contracts, so a violation in the repayment of these loans is simply a breach of contract - not a criminal act.
Contact Lawyers Who Have Experience with Payroll Advance and Check Cashing Companies
There are several options to resolving these problems. Often, we can work out a payment plan which is within your means, or utilize mediation to enforce a solution upon these companies. We realize there are probably several other issues in your life which have put you in this position in the first place, and considering filing a bankruptcy might be the best option to end your struggles and put you back in charge of your finances. Call us today at (614) 503-4497 or contact us to schedule a free initial consultation. We know that you've been through a lot and we are ready to help you feel better and get back on track.
