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Bankruptcy & payday loans

Date: Wed, 10/05/2005 - 09:37

Submitted by anonymous
on Wed, 10/05/2005 - 09:37

Posts: 202330 Credits: [Donate]

Total Replies: 17


I just filed bankruptcy yesterday. I have 9 payday loans ncluded in the bankruptcy which are still current but I am not able to pay the fees any longer. Can these loans still try to collect from me?


LisaM,

May I know the type of bankruptcy that has been filed by you? If it is chapter 13, then you might be required to pay the debt.

If the following payday loans have been included in the chapter 7 bankruptcy, no creditor or the collection agency can try to recover the debt from you.

I guess that your creditors have been called in the bankruptcy court during the process of your filing. Hopefully, they will not try to recover the debt from you under the chapter 7 bankruptcy terms.


lrhall41

Submitted by ben on Wed, 10/05/2005 - 11:31

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Type filed was chapter 7. I don't mind even paying it back on a payment plan but just don't want to be harassed as I see many others on your forum have been. I'm sure they haven't been called yet since I just filed and wonder if I should call them myself and let them know I filed or just wait??? Thank you for your help. This forum has been very informative.


lrhall41

Submitted by on Wed, 10/05/2005 - 11:42

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Hi LisaM

It is true that the harassments used by most of the agencies is completely shocking and is a regular violation of the federal and state laws.

In your situation specifically, since you have filed bankruptcy, the creditor in no case should force you to pay the said debt. However, you can take it for better reasons that you won't have to go through the similar situations that other debt struck people are facing.

Regards
Roxette


lrhall41

Submitted by roxette on Wed, 10/05/2005 - 11:59

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Believe me, it wasn't my choice to file bankruptcy. I feel just sick about it but already have had to give my my apartment to pay off the payday loans and next will have my car repossessed. I really had to do something drastic. I sought help from a credit counseler and she basically told me that with all my unsecured debt and the payday loans, I'd be better off just filing for bankruptcy as soon as possible. I still though feel I should somehow try to pay some of these debts. It is comforting to know though that I am not alone.


lrhall41

Submitted by clen_lj on Wed, 10/05/2005 - 12:16

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Is it considered fraud to filed banruptcy within 90 days of getting the loan. When the loans were taken out, my husband had two jobs. Soon after obtaining the loans, he was laid off of one. Can anything be done?


lrhall41

Submitted by on Sun, 10/09/2005 - 15:08

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Tracey, every company has its terms and conditions before the loans are given out. It must be clearly stated in the agreement letter signed with them. Read it carefully so that you can know your do's and don'ts.

Consult your bankruptcy lawyer before you decide to do it. The creditors will be asked to appear in the court. Once the court gives the orders, the debt will get discharged.


lrhall41

Submitted by ben on Mon, 10/10/2005 - 10:50

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i am getting harrassed by a payday loan called cashtoday,,they are calling 20 times a day and harrassing me at my job saying im gonna be arrested what can i do..i cant pay these off cuz i have no money


lrhall41

Submitted by on Sat, 12/10/2005 - 20:56

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Hi Sherry

Welcome to the forums.

You need to arrange some money so that the loan with Cash Today gets paid off. Otherwise, it will keep on adding with interest and other financial charges, making the loan difficult to be paid back later.

Cash Today is also making these collection attempts because they are not aware of your present financial status and they want to get their money back. Talk to them and try to arrange a payment plan. This will be your best move otherwise they might intend to take some actions against you without your knowledge.

Do let us know after you have made the move.

Regards
Roxette


lrhall41

Submitted by roxette on Mon, 12/12/2005 - 10:00

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Quote:

I was told by a collection agency that until the creditor received paperwork from the bankruptcy attorney, they can continue collection action. I can't guarantee the validity of the information, but that is what I was told.


Provide the Agency with the number for your attorney.Once you have provided them with that information and directed them that all future contact needs to be directed to your attorney, they must cease contacting you. This in accordance with both fdcpa and Bankruptcy code.


lrhall41

Submitted by LCW on Mon, 12/12/2005 - 14:04

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I currently am under bankruptcy and made some payday loans after filing can I modify by plan to include these loans or do I try and set up a payment plan with the lenders. I am behind on my mortage because of this.


lrhall41

Submitted by on Sat, 07/08/2006 - 04:18

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Check with your attorney or the court, however, I don't believe you can, furthermore this is a rare case where you could possibly be charged with fraud, as you were already in a bankruptcy proceeding when you took out the loans. Furthertmore (again check with your lawyer or the court)this could actually be cause for your filing to be dismissed.


lrhall41

Submitted by LCW on Sat, 07/08/2006 - 06:27

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I filed for chapter 13 bankrupsy back in September of 2006. I am trying to take out a payday loan over the internet and they wont let me . Does my bankrupsy have anything to do with it.


lrhall41

Submitted by on Tue, 03/20/2007 - 13:02

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I filed Bankruptcy last year, I have three colliction agency calling me and telling me that it does not matter if i have filed chapter 7 on the payday loans, they said that you cant file on payday loans is this true?


lrhall41

Submitted by on Mon, 08/16/2010 - 14:51

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Quote:

Originally Posted by Anonymous
I filed Bankruptcy last year, I have three colliction agency calling me and telling me that it does not matter if i have filed chapter 7 on the payday loans, they said that you cant file on payday loans is this true?


of course you can file BK on any unsecured debt.it's just that bottomfeeding pdl's and collectors of them break the law hand over fist.i would let the BK trustee know about this asap.collecting on a discharged debt is a major no-no.in short you can file BK,and the bottomfeeding collector is subject to major penalties.


lrhall41

Submitted by paulmergel on Mon, 08/16/2010 - 14:58

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