hello everyone. i was wondering if the trustee knows whether or not you have a payday loan out seeing that it is not credit based? my 341 meeting is at the end of this month. thanks for your imputs!!!
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Trustee goes by what you submit on your petition. But - NOTE - you are supposed to list ALL CREDITORS on your petition - whether you owe them or not, no matter how much you owe them......
Be honest and upfront about your expenses and debts - it will pay off in the "long run"....
Minny
Minny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different. -
thanks minny, well this is a new one, i got it after i filed out all my paperwork, will that make a difference? i just needed some tires on my car and didn`t have the money, it will be paid back next week, when i get my paycheck.Comment
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If you are paying it back next week, pay it back in full, keep it too yourself....
During bankruptcy you are not supposed to be purchasing large items, getting more credit, especially during the period from filing to the 341 meeting. That way your financial affairs are still the same at the 341 meeting.
One thing you don't want to do is "rock the boat" or send up a "red flag" for the trustee.
I think you will be okay though!!
Maybe HHM or Todd can offer you some input on this subject.
MinnyMinny
"It's amazing the paths that our feet sometimes follow in life".
My suggestions are from "personal experience" and research only. Do not consider this as legal advice. Each bankruptcy case is different.Comment
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If you can, pay it back in full, AND DO NOT RENEW IT. You should not have taken it out in the first place.
And yes, payday loans are a type of CREDIT, they are generally unsecured creditors. But no, the trustee does not generally independently research your creditors, but you will be put under oath and asked questions which could put you in a difficult situation of possibly misleading or lieing to the trustee.
And as a general matter, stay away from payday loans.Comment
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i understand, but my tires were runnung on threads and i needed them asap, i drive my kids around and really needed the tires, i was thinking that as long as i didn`t go get a real loan (which i plan on never doing again) i would be okay. and yes it will be paid back in full as soon as i get my paycheck.Comment
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