can we do pay day or short term loans

[quietsound]

I just saw an advertisement on one of the threads in between posts about pay day loans $1500 and my question is, being in chapter 13, are we allowed to take out a payday loan like this?

I know on my confirmed papers it says soemthing about allowed $5000 without court approval....

and can get rid of property not over $2000 in value.

any thoughts!

[cathywhite4495]

I don't know if it's allowed but I can tell you that you don't want to get caught up in those things! They should be illegal. I know many many people (including myself) that have taken out a loan thinking it was just temporary but then get caught in a cycle that's really hard to get out of. Most of the people who got out from under them had to borrow money from friends and family.

[HHM]

Please reconsider taking out this loan, not for legal reason, but purely for practical reasons. Your in a chapter 13 right now and you want to take on more debt, without more information, all I can do is question your financial decision making process.

What would the money be used for? Unless it's an absolute emergency (i.e. if you don't get the money, someone is going to die), then simply don't do it.

[doglover]

Take it from me too......DON'T DO IT!!!!!!! It's a vicious cycle you get caught up in with those type of loans. I hate those damn things.

[Elf]

Of course you can't.

Get real. You may not add any additional debt without the approval of your trustee.

Now ask yourself-- is my trustee going to allow me to go into more debt?

Nope. Not a chance, unless it's a refinance that does NOT increase your monthly payments.

If you are in BK-- you are trying to pay off what you already owe. You may NOT add to it. If you do-- be prepared for dismissal. (That means the kiss of death.)

[CCB35]

payday loans

take it from me.payday loans are the reason i had to file bk in the first place.i got one to hold us over and the next thing you know i was getting payday loans to pay other payday loans..it is indeed a cycle of pain you cannot get out of.i am on month 9 of a 60 month plan and i will never ever get a payday loan or a credit card again.i agree completely that payday loans should be illegal!

i can also tell you they will fight you to the death after you tell em you have filed bk.i had one i told who went straight to the bank and deposited my check and caused my account to go negative because she wanted cash .

[quietsound]

then you really NEEDDDDD to remove your advertising...........right here on this post, it says...Bankruptcy Forum Advertisement...............NO CREDIT PAYDAY LOan...No faxing required. no credit check instant online approval quick cash payday.pdxloans.net.

you are allowing this advertising on this forum, that's the only reason why I am asking the question I asked, it's NOT to actually take out a loan with these people.

This type of advertising should not be allowed on this bankruptcy forum.

[HHM]

then you really NEEDDDDD to remove your advertising...........right here on this post, it says...Bankruptcy Forum Advertisement...............NO CREDIT PAYDAY LOan...No faxing required. no credit check instant online approval quick cash payday.pdxloans.net.

you are allowing this advertising on this forum, that's the only reason why I am asking the question I asked, it's NOT to actually take out a loan with these people.

This type of advertising should not be allowed on this bankruptcy forum.

Fair enough...but keep in mind, as far as I know, there is only one person who has access to the GoogleAds account, and he is more absent than present on the forum. With GoogleAds, you only have indirect control of the advertising that gets displayed on this site.

[BKOnce]

then you really NEEDDDDD to remove your advertising...........right here on this post, it says...Bankruptcy Forum Advertisement...............NO CREDIT PAYDAY LOan...No faxing required. no credit check instant online approval quick cash payday.pdxloans.net.

you are allowing this advertising on this forum, that's the only reason why I am asking the question I asked, it's NOT to actually take out a loan with these people.

This type of advertising should not be allowed on this bankruptcy forum.

Every modern-day blog/website/forum still needs daily cash/money/budget infusion/support/ ...generated from ads/member/fees/.... in order to survive/maintain/suffice/improvise/... etc...!??

[quietsound]

I understand all of that, but it's very misleading! If chapter 13ers can't do this then this should not not not be on here, it's extremely misleading.

[Peevee]

I just noticed those ads and it is kinda strange that they are advertising on a bankruptcy forum.

[HHM]

I understand all of that, but it's very misleading! If chapter 13ers can't do this then this should not not not be on here, it's extremely misleading.

Point noted, thank you.