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  • Spectacular!

    I liked your fast, friendly service. You were all knowledgeable in the area of bankruptcy. Your treatment of me as a client was spectacular! You were great at promptly responding to my questions and concerns. I loved that you provided courteous and quick responses to all my questions.
    --Donna
  • Highly Recommended!

    I have worked with Seth and he is the utmost professional in how he works with his clients. If you need an attorney you can trust I would highly recommend the Law Office of Seth Hanson.
    --David
  • Very Professional.

    Everyone was very professional and efficient. Seth, and everyone that I had contact with were very knowledgeable. I was very pleased with how we were treated by his staff. My questions were always answered promptly. I was very pleased with the service I received and would not hesitate to refer someone to your firm.
    --Anonymous
  • Non-judgmental.

    You were very open and answered all of my questions. You never made me feel like I was asking a dumb question. I was comfortable with your knowledge of the law. It was hard for me to make this decision to move forward in my life. Everyone was friendly to me and respectful. Non-judgmental. Every question I asked was answered promptly and appropriately. I would recommend you.
    --Anonymous
  • More Than Expected!

    I found the firm's representation to be more than what I expected. I was always kept in the loop, all my questions were answered (whether or not I asked more than once the same question), and I felt completely supported by the firm staff when going through this (at times) scary ordeal. Thank you again.
    --Joanna
  • Very Impressed!

    I liked that you had very friendly, caring staff. You were all very knowledgeable. Your treatment towards me was excellent and you quickly responded to all my concerns. If a friend asked of your overall impression, I would say that we were very impressed and we would recommend you to them.
    --Danielle

Hidden Cost Of Payday Loans

Although a payday loan is a short-term solution to a financial fix, what was once considered a temporary solution can easily turn into a renewal of debt.

According to The Consumer Financial Protection Bureau, short term, high interest rate loans are often made without regards to a borrower’s ability to pay it off (nyti.ms/195kHzc). Most payday loans are due in two weeks, with an average fee of $15 per $100. With an annual percentage rate of 391%, the fees for payday loans can be damaging to one’s finances, and extra fees may be charged if the loan is extended. (bit.ly/14zi3P9)

For many consumers, the high interest rate and accumulated fees can result in a debt trap that can be difficult to get out of. According to the Caught Short Interim Report that investigated the experiences of 112 individuals borrowing small short-term loans, 23 percent of those individuals became involved in a debt spiral that required them to refinance a partially paid loan to start a new one. Extensive and repetitive borrowing indicates that borrowers end up paying the equivalent of annual percentage rates between 700 and 1200 percent over several months. (http://bit.ly/12vP24H)

The most common reason for taking out a payday loan involves necessary expenses for daily living such as rent and food. With the need to pay off one’s daily expenses, the desire to renew a payday loan is especially tempting. Each year 12 million Americans take out payday loans, and these borrowers take out an average of eight loans per year (bit.ly/14zi3P9).

To avoid debt and assistance from a Chapter 7 bankruptcy attorney, the repayment plan of the payday loan should be considered. To be cautious, do not consider a payday loan if there is a possibility that the loan may not be repaid on time. Maintain a budget to be aware of your current expenses and plan for emergency situations. After all, the purpose of a payday loan is to help with a person’s expenses, not to add on to it.

Please complete the form on the bottom left of the website or call Bankruptcy Attorney Seth Hanson today for a FREE Consultation: (916) 780-7005.

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