PDL Time Frame Help

It depends what state you are in, it also depends on the payday lenders. Hopefully you have your bank account secured so they can't debit anymore?

This is a tough question because it can go either way. We all know once you file they cannot pursue any Legal action at that point and all collections are to cease.

However, if you tell them before the BK is approved they can try and get your funds by debiting your account. As stated above hopefully you have closed your account so they cannot access the funds.

IMO, I would personally not tell them I am filing simply because it can cause you undue harrasment. If these are internet lenders then I wouldn't be too worried. If these are storefronts I would atleast keep in communication with them and let them know you are working on a repayment plan. Simply because storefronts can sue for the loan amount.

You need to secure your account and notify each lender in writing that you have RETAINED an atty for the purpose of bankruptcy. Once you have retained an atty, all collections efforts must stop. Your letter should alo include the name and telephone number for your atty with instructions for all contact to go thru him/her. At this point, you should be finished receiving calls from any creditors.

Now, that is the way it is "supposed" to work. The reality is that since the lenders have snubbed thier nose at the requirement to have a license to lend, they will probably ignore the BK notice. Keep a log of dates, times and names for future reference.

Quote: