FTC says Online Payday Loans may not be legitimate

J Thomas Black
Board Certified, Consumer Bankruptcy Law- Texas Board of Legal Specialization
Posted on Sep 17, 2014

The Federal Trade Commission ("FTC") recently sued several online payday lenders for violating federal laws. The payday loan lenders allegedly lied to borrowers about how much their loans would cost, required borrowers to allow the lenders to take money from their bank accounts automatically, and threatened to sue the borrowers or have them arrested for non-payment.

If you have bogus online payday loans that you cannot pay, by all means dispute them don't pay them. We have clients that get phone calls from "fake payday loan" debt collectors trying to get them to pay.

But if you have payday loans that you owe but you cannot pay, or other debt problems and you live in the Houston, Texas area or surrounding counties, call our office at 713-772-8037 and make an appointment. We will review your situation at no charge to determine if filing a bankruptcy case would solve your debt problems. Payday loans, including online payday loans, can be discharged in bankruptcy just like any other unsecured debt.

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