Companies that offer payday loans or other high interest bad credit loans aren’t doing you any favors. They want your money and if they send you spiralling downward toward bankruptcy, well that’s too bad.
The decision to file for bankruptcy is not one to take lightly. With the multiple bankruptcy plans available and the changes to bankruptcy law that occurred in 2005, it is important to be an informed about options from various scenarios. If you are considering filing for bankruptcy but have concerns about what may happen should your income change, here is an overview of the facts.