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somebody please help me! payday loans and bankruptcy

Date: Thu, 04/05/2007 - 12:18

Submitted by mokey62
on Thu, 04/05/2007 - 12:18

Posts: 13 Credits: [Donate]

Total Replies: 6


Okay, here is my stupid situation. I live in California I recently filed for chapter 7 bankruptcy(meeting of creditors end of April). I have 7 300.00 storefront payday loans due in full on first of each month. Here are the questions.... Can I include them in my bankruptcy? Should I opt out of the binding arbitration clause in their contracts? HOW DO I STOP THEM FROM ACH MY ACCOUNT ON MAY 1ST? Should I close account, deal with aftermath....have insufficient funds in bank on 1st of month....tell them I've filed for bankruptcy and their is (or will be) an automatic stay?

And last but not least I'm scared, nervous anxious...about what they may try to do to me if I file bankruptcy on them! Because I did'nt disclose it to them when I took out the loan. All of the loans are reloans I've been doing with the various companies for the last 2-5 months.

PLEASE HELP ME!!!! ANY FEEDBACK WOULD BE GREATLY APPRECIATED.

I RECENTLY BECAME PERMANENTLY DISABLED AND AM LIVING A FINANCIAL NIGHTMARE, AND BECOMING DESPERATE.


Yes, only because I had to. Otherwise I would have lost 2100.00 on the first of this month. My loans are paid in full each month and then reborrowed for the nest month.


lrhall41

Submitted by mokey62 on Thu, 04/05/2007 - 13:06

( Posts: 13 | Credits: )


I don't have an attorney, I have a paralegal. He's not sure what to do. These loans are reocccuring loans, I did not just open them for the first time this month. I had to reloan with them this month after I filed bk because I couldn't pay them back. WHAT A MESS!!!!! These loans really are rollovers, but not in the eyes of the court perhaps.


lrhall41

Submitted by mokey62 on Thu, 04/05/2007 - 13:36

( Posts: 13 | Credits: )