Payday loan

[Leesa926]

What is the damage in taking out a payday loan before we file. I have every intention on paying it back it won't be an issue my husband has stopped working and I literally have $10 to my name for the next two weeks. I need it to get by.

I am in Florida so how it works is I would get the money tomorrow morning and it would come out of my paycheck on December 28th. it would be for 500 or less.

will that be an issue stopping me from filing or just something I may have to mention. it does not go on your credit report

[jixxxer]

I wld think its ok to do that. I dont see a problem with it.

[LadyInTheRed]

It probably won't be an issue in your BK as long as you disclose it if required to as a response to any questions on the petition.

What concerns me is that you need it to get by. Are you still making payments on your unsecured dischargeable debt? If so, you should stop so that you don't have to keep using more credit to get by. If after stopping all payments, you can't get by without payday loans, you need to figure out how you are going to get by after you file BK. If you don't figure that out BEFORE you file BK, the BK is not going to do you much good.

[Leesa926]

Thanks I figured it out without taking on new debt. We will be ok after. Our issue is 2 things. 1 we just stopped paying our debt and are filing rather quickly (I know some wait) and 2 I get paid 1 small check and 1 big check each month but with the 5 week month I received 2 small checks in a row where I was expecting the normal small/big. Just bad timing. We have not yet felt the relief of not paying the large credit card minumums yet as we just stopped paying November.