Aug-17-2008
Payday loans right before Chapter 7 Bankruptcy filing?
I got two payday loans right before filing chapter 7 bankruptcy to help with the court chapter 7 filing fee. I filed Pro Se. The loans both totaled $500 dollars . Do I have to repay (or reaffirm )them since they were less than the $750.00? .Also taking the loans less than the 70 days of filing the bankruptcy . I did not know this before I filed . Only after doing research did I discover this.
since they were within the 70 day period, you have to reaffirm these loans and pay them back, with interest.
you knew you were going to file BK and thus can’t hide out on the loans.
This is one of the dangers of filing Pro Se. If something is done wrong you are in danger of having your bankruptcy dismissed.
When you talk about the loans do you mean that they both were $500($1000 total), or that together they were only $500. As long as the total of the loans(not individually) was under $750 they can be discharged. Once you are above $750 you can not get them discharged. But if you wanted to you can still reaffirm the debt. That is as long as you did list them on your Bankruptcy Petition.
If you did not list them on your petition, then you need to get it added. If you do not add them and the trustee finds out about the loans you will have some serious explaining to do. It could just mean that they disallow that debt, or they could dismiss the entire bankruptcy.
Ey sups Richard
Im not exactly sure what your looking for Richard
But I found this site below and from the looks of it, I think it would be a lot of help
Anyways Gud Luck!
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