The Thing I'm Scared About...

[Anna.M]

Ok- here's my situation. I have six payday loans currently out that haven't even gone into default that I'm including in my bankruptcy. I'm waiting until it's been 90 days since I took them out to be on the safe side. I haven't even paid the extention fees or any payments on them and I'm not going to be able to afford to! That said- how soon would these leeches try to sue me, and b/c I haven't made any payments will they try to say I took them out with the intent to file? I have documentation that I went and applied for a CC almost right after I took them out but that it was approved only with a co-signer so I have reasonable proof that I had intent to pay. Also, b/c I'm going to be using the money I'm making in-between now and then to pay my lawyer, will the trustee think "well why didn't you use that money to pay the creditors at least something". Also, will they look at the date you retained the attorney or just the date you filed? This is the only thing that scares me. Thanks so much!

[jp2861]

If you've already met with an attorney and they tell you will qualify to file then most of your worries are premature. I'm sure we all have had some worries throughout the process.

Once you know you qualify to file, make a plan as to when this will happen. Right now your thoughts should be focused on the BK process and NOT worrying about creditors. You cannot control what a creditor does or when they do it. But, you have total control over the BK process. Concentrate on what you can control.

They may file suit tomorrow or it may be in months to come. Regardless, once you file all their actions become meaningless. And once discharged they will will go away forever.


Too many times posters place their thoughts on what creditors can or will or when do something. The important thing for you to focus on is getting through the BK process. Once you have that plan nailed down all the other worries will be taken care of. There isn't anyone here that can say when a creditor will take action, as they all do things on different timelines.

If your case gets sticky they may look at the date you retained the attorney, but I doubt they will. The important thing for you to keep in mind is once you decide that a BK is inevitable, then all unnecessary or "nice to have" type charging needs to stop from that point forward. If you know your broke yet continue to charge for frivolous crap then you're obviously trying to scam the system, and that's not good.

There are plenty of posts addressing your concerns, if you search for them. The most important thing I would do is get the plan to file in action and follow through. The BK will eliminate all the concerns you posted.

[Anna.M]

I just can't afford for the payday loans not to be discharged. They are what drove me into bankruptcy in the first place and the interest rates are insane. I know I was stupid- spilt milk is spilt milk. I guess the part that scares me is the fact that (like you said) I have no control over what the creditor decides to do.

[HHM]

Pay Day loans get discharged like any other unsecured debt. Don't worry about it.