Storefront pdls in bankruptcy

Storefront payday loans can be included in bankruptcy because they are unsecured debt. The new laws took effect last year in October and it is harder to qualify for chapter 7 however. I would consult an attorney. KYSIDE38 :D

Under the new bankruptcy laws, you will have to undergo credit counseling before qualifying for the bankruptcy.

If you can pay the debts under the new repayment plan in the credit counseling, you won't be able to qualify for the bankruptcy. Talk to a debt counselor about your accounts. He will guide you in the right direction.

And don't let the counseling requirement scare you - you can do it over the internet, and it only takes about an hour. It's not bad, but you have to pay for it up front yourself.

i talked to a attorney he said i could file. and he advised me to close my bank acct. and refer calls to him.

That is good news. Are you feeling better?

I wish that you didn't have to have a lawyer and pay a lawyer's fee :(

But since the laws have changed, you do need someone to help you with your rights. And I do believe that you have to go to credit counseling before you can file for chapter 7.

I really would hope that you wouldn't file at all. But if you have consciencily made that decision, then so be it. Good luck to you.

I was told by a bankruptcy attorney that if I wanted to include storefronts, they had to be at least 90 days old, but this was for a Ch 13.

The only problem with short-term loans like this is that, under the bankruptcy code, a loan that is obtained within 90 days of your bankruptcy petition cannot be discharged.

That means if you take out a payday loan November 1st, and file a bankruptcy before Februay 2, that debt won't be allowed a discharge.

If you have not made any payments, either, they could argue that you took the loan out in contemplation of a bankruptcy, which could prevent it from being discharged.

I just contacted an attorney the said I passed the means test for Chapter 7 bankruptcy and I have taken the credit counseling.