another question

[lilkim]

do i need to include a payday loan if i intend on having it paid back before my 341 meeting? these are just those places that cash your personal check and hold it till your payday. they don`t even check your credit. any advice on what i need to do?

thank you!!

[LinSC]

Yes, you're required to list ALL debts. You can't pick and choose. You'll have to tell the Trustee and Court if you paid anyone (including Creditors) more than $500 or $600 (not sure of exact amount) at least 90 days prior to filing for bankruptcy. Depending upon the Trustee, he or she may require the loan company to refund the money to the Court to give to other creditors listed in the bankruptcy.

This isn't advise, just a thought. Why pay it off especially when you have to list it? As my attorney stated, you'd be throwing good money after bad.

If it were me, I'd definitely include the amount and company in your bankruptcy filing and use the money to help pay the bankruptcy filing fees or pay for other necessities. Besides, those payday loan companies are LOAN SHARKS!! As you may already know, in SC there isn't a cap on how much interest they can charge ... they'll hang you out to dry. I'd include them in the bankruptcy and never use their services EVER again. What do you have to gain by paying them off?

[lilkim]

thanks lin!!! the amount is only 287.00 that i owe, i just didn`t want to list it because my husband would be mad at me if he knew i took that loan out, but i am the one juggling the bills and i had to do what was needed to get the bills paid. did they look at your bank statements? and if so do i need them, my lawyer has not even said anything to me about bringing them w/ me, the only thing he asked for was our checking acct#`s.