Chap 13

[SkeeterBug]

What is the name of your state?Oregon.

My husband and I are in over our heads in payday loans recently taken out and we cannot afford to pay them back and I know that if a person files chapt 7 after taking loans it is considered bankruptcy fraud. my husband and I cannot file a chapt 7 as it has only been 6 yrs since one was discharged. we are thinking of filing a chapt 13 so we can pay them off but have a trustee in charge of all our debts. the reason we are in trouble also is because of id theft and medical problems and job loss. because if we keep paying on these loans we could end up paying almost all our income on them.

 

[Ladynred]

The restriction on filing for BK a 2nd time is 6 years from the FILING DATE of the prior bankruptcy, NOT the discharge date. So, you probably CAN file CH 7 again by now.

Payday loans are NOT like other loans where it would be considered fraud. These places are legalized loan-sharking and I wish every state would outlaw them. I saw a case a couple of weeks ago where a woman had a list of TEN payday loan places listed on her creditor matrix !!!

 

[anabanana]

You go see a lawyer that does Chapter 13 and you'll get out from under those scum sucking scuzz buckets. LORD do I hate those places! Almost as much as I hate bankruptcy fraud.

But listen, fraud has a lot to do with INTENT. If you've taken the blood-sucker loans and TRIED to pay them back, and you're unable, then you g'ahead and file a Ch. 13. You'll have to pay back some, which is fair, but probably at about 20 or 30 cents on the dollar, which is about all they deserve. Grrrrrr. Good luck.

 

[giggle50]

Don't be concerned too much about the fraud issue. There are time limits involved (60 days prior to filing) and intent issues as the other posters have discussed.

What no one has mentioned is that the fraud issue only pertains to a chapter 7 bankruptcy. Chapter 13 bankruptcy precludes creditors from raising the fraud issue. This is a major reason why people with huge credit card debt in close proximity to filing choose chapter 13 over chapter 7.