Loans to Avoid

Car Title Loan

Car Title Loan for Quick Cash bankruptcy

"A car title loan is an easy way to get cash fast!" And an easy way to lose the car you have worked so hard to pay for. 

Car title lenders make money in two main ways:

  1. High Interest
  2. Auto Repossession

Consolidation Loan

Debt Consolidation Loan bankruptcy

A debt consolidation loan combines multiple debts from credit cards, personal loans, and other bills into one loan with one monthly payment. This can sound exciting because it is often advertised as "lowering your overall interest rate with one affordable payment, helping you save money, and pay down debt faster." 

Personal Loan

Personal Loan bankruptcy

This would make your loan a secured debt, or a car title loan.

At Doan Law Group, we help people get out of debt, not get deeper into debt. If you have not been able to pay off the existing debt you have, why do you think incurring new debt will help? It's like throwing gasoline on a fire.

Payday Loan

Payday Loan bankruptcy

A payday loan gets you a small but quick cash advance on your next paycheck.  Payday lenders boast, "We make it easy and fast to get your cash when you need it most!"  But they don't tell you their interest rate is an average of nearly 400%.