I Just Took Out Payday Loans. Should I Wait 90 Days To File Bankruptcy?
If you're considering bankruptcy after taking out payday loans, you may be wondering if your spouse will be pursued for your debts. The answer is maybe. If you live in a community property state, your spouse may be liable for some of your debts. Even if you don't live in a community property state, your spouse may still be liable if they cosigned for the loan or otherwise agreed to be responsible for the debt.
That said, filing for bankruptcy can provide relief from payday loan debt, even if your spouse is liable for the debt. If you file for Chapter 7 bankruptcy, the court will appoint a trustee to sell your non-exempt assets and use the proceeds to pay off your creditors. Your creditors will then release any claims they have against you, including claims against your spouse.
The Law Offices of Omar Zambrano has already helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FAST!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706