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Help!

Date: Thu, 04/01/2010 - 15:30
Submitted by on Thu, 04/01/2010 - 15:30
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I live in NYS. I am planning on filing bankruptcy within the next few months. I have two questions: can I take a 2nd job to help pay the bills? I take home $1,750.00 per month and don't have enough money to survive on!. Even with a 2nd job, my income won't exceed the mean for my state. Also, I have a payday loan for $500.00, If I pay the loan off in full 90 days before filing, will that be seen as preferential treatment? With the interest, the pay back amount will be over $600.00. I want that bill taken care of as soon as possible as the loan people are dreadful to deal with.
Thank you,
John


Are you planning to file ch 7 or ch 13? Remember that you have to pass the means test before qualifying for bk. Taking a second job before filing bk might put you outside the means test income bracket.

Secondly, paying off any particular loan just before filing may be considered as preferential treatment. You might check out if your payday lender is legal in your state or not. If they are operating illegally, then you may stop worrying about paying off the interest. Check out the following source to find out how to deal with illegal lender.

http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html

You really seem very confuse to me. I'd suggest that you speak to a bankruptcy lawyer to learn about your options.


Submitted by SC on Sun, 04/04/2010 - 20:58

SC

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