Payday Loan and Bankruptcy

Hi dovel367,

I'm sorry, can you please clarify the situation? Is he trying to say you can't put a certain PDL in your bankruptcy because it is in a different county that you are? This is a very strange statement for an attorney to make, so I want to be clear.

chrys

I would have him check that again and also make a call to another BK atty for clarification. This is a new one to me!

Did he mean county or country?

I would think it may be hard to add a company that is not in the US, but I can't imagine it being an issue in another county or even another state.

I found this on the web. Still trying to find more information on recovery regulations on ILLEGAL debt collection itself. Anyone know where I can read up on this :roll:

http://www.bcsalliance.com/debt_when_collectors_misbehave.html

I met another Country. CashTransferCenter in Malta or do they also have a place in the US.

As far as I know they do not have a place in the US and have no license here.

Your attorney is correct that even if you list them that they will not follow the standard laws of no collection contact once you file.

How much was the loan for? How much have you paid back and what state are you in?

I imagine, though, that it would be possible. In the FTC's fight against PDLs, they specifically mentioned that a large amount of people were driven to bankruptcy specifically because of payday loans (I mean people that were not considering bankruptcy previously).

But if you are already going to go the B/K route, I would put them in there anyway.

I agree with ChrysHenderson, I would add them as well. They most likely will not follow the law, but the poster then has a paper trail if in fact he is turned over to a CA in the US. Even unlicensed CA's will usually back off when presented with a US Court Document.

It basically costs nothing more to add a creditor, so put all of your debts on there!!

I'm wondering if the bankrtupcy attorney is looking at it from the standpoint that, since when you file Bankrtupcy all your creditors receive a "discharge" notice by mail, from the bankruptcy court. Since you don't have a valid address to send the notice it would be hard to put it in the bankruptcy filings. Which would be true, but from a consumer standpoint I don't see why you can't put it in there. In fact you are encouraged to list "ALL" your debts when you file Bankrtupcy. You can't pick and choose what goes on the filing.

I put every single one of my payday loans in my bankruptcy in 2006 (yes, I was stupid enough to fall back into the track in 2008 but never again!)
The loans were not even legal in my state but i did add them.
I would add it in, they cannot legally collect on you regardless, so it does no harm.

bea2ls so what was the outcome of you bankruptcy with PDL companies? Did they honor the bankruptcy discharge and mark your loans PIF? Just curious :wink:

they all dissapeared. seriously they are not legal in my state and they were gone. one company tried to collect still (i should have sued and regret not doing it.) but other than that i did not really recieve anything from them. weird, huh?

So the attorny was able to track down the ILLEGAL IPDLs, or were they all storfronts?

my attorney was not much help, lol. they were all internet, i weasled the physical locations out of them (this was before this board though, if I found this board sooner, my bankruptcy might have been avoided).

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