341 Meeting over and Question

[doglover]

HI everyone. Well my dreaded 341 meeting is over. YIPEE!!!!!!! It went by so fast. Couple questions about deductions on my pay stub and couple questions the Trustee asked our Attorney chimed in and gave right answer at the right time We don't have to attend our confirmation hearing and Trustee wished us well and that was it. I was so nervous before and felt so rushed after I forgot to ask my attorney a question. So who better to ask then all of you...... Ok.... after we filed I got 2 small pay day loans because emergency (total about $550.00). Today before our 341 meeting we had a finance class and they told us then "no more loans, payday loans, credit etc....". Should I add these to the bankruptcy ? When I got them I had all intentions of repaying them but my employer started wage garnishment and that threw me and my budget off (weren't going to it start till 1st of Nov.). So now I'm in a rut.

What should I do? After today I'm NEVER (yes I'm going to say NEVER) Use those loan sharks again!

Thanks

[Skorpnix]

You state AFTER you filed you received payday loans. Unless I am truly uneducated on this you can't because that is new debt outside of bk estate and the papers I signed stated I couldn't have any more new debt over $500 unless medical emergency or court approved.

[lrprn]

Glad your 341 went well today, DL - I bet you are glad that's over!!

Ok.... after we filed I got 2 small pay day loans because emergency (total about $550.00). Today before our 341 meeting we had a finance class and they told us then "no more loans, payday loans, credit etc....". Should I add these to the bankruptcy ?

Since you took out the two payday loans *after* you filed, you can't add them to your Ch 13. You have to find a way to pay them.

Unless you have a little give in your Ch 13 budget and can pay the loans off now in full, it's time to swallow your pride and ask family or friends for a loan to pay these off in full asap. If you don't, the interest is going to spiral out of control quickly and you'll never get on top of them. At least you can pay back family/friends over a few months. The payday folks are going to be merciless. Don't wait - get these paid off as quickly as possible.

[chpxiii]

What should I do? After today I'm NEVER (yes I'm going to say NEVER) Use those loan sharks again!

Thanks

As stated, you cannot add these to the bankruptcy. Pay them off now. As soon as you can.

If you're in a chapter 13, this is a no no. You cannot take out any loans while in a chapter 13 payment. (Unless it is court approved.)

[doglover]

You guys are right. I'm going to find a way (cough cough Mom) and pay them off ASAP. Thanks.

[wayne-o]

good luck, PLEASE be careful, even by taking out the loans you put your chapter 13 in jeopardy.