What steps do I take to stop this. I’ve tried my best to avoid bankruptcy, and I would like to continue to avoid it if possible.

What steps do I take to stop this. I’ve tried my best to avoid bankruptcy, and I would like to continue to avoid it if possible.

I took out a loan at a high interest lending agency. I defaulted on the loan. My bad. Now they have garnished my wages. I deserved that. But after it was all paid off, they are continuing to garnish me for interest. I have already paid about three times what I borrowed. I can’t pay my bills because of this issue. I’m frustrated. How can I stop this?

Traffic Lawyer Richard Simon’s Answer

It maybe time to file bankruptcy. If you are getting payday loans etc. You probably have wracked up a good amount of debt and your credit is already shot. So it is time for a fresh start and rid yourself of this debt. If you qualify under the means testing under BAPCA(a test that determines if you qualify for bankruptcy based upon amount of debt, income, and assets) then you can discharge that debt and move on with your life. If you do not want to file bankruptcy, contact your creditors and see if you can negotiate out these bills, there are many good agencies that can help you negotiate debt(credit counseling is also required before you can file bankruptcy) The main thing to know is that there are options and you can get through this.

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