Payday Loans 6 months or less before filing

[drowning123]

Is there a problem if I have payday loans that I got less than 6 months before filing?

[ccsjoe]

Shouldn't be. Even if the amounts lead the trustee to claim the repayments as preferential, that's between the trustee and the payday loan company. As long as you have none outstanding at the time of filing that you have not included in your creditor schedule I think you're ok.

[drowning123]

Thanks Joe!

[tcreegan]

document

Hi drowning !!

Just be sure to document where the $$ went, no luxury items (yeah right, w/ a payday loan...)

Tom in Colo

[drowning123]

Actually, they're all there in my bank statement. Bills!

[Nicollette]

I included several payday loans in my BK and my attorney had told me they had to be at least 90 days old if I was including them.

[ccsjoe]

Nicollette, you are correct if you are seeking to include them as part of your filing. OP didn't mention having outstanding ones.

[drowning123]

I have some that are 90 days old and some that are less. I included everything. I'll see which way the wind blows.

[ccsjoe]

Shouldn't be an issue drowning. I have one that's 3 weeks old...lol.

[dawntyoung]

What if I don't have the payday loan company's info, only the collectors. It's been 2 years

[drowning123]

It should be on your credit report. I had pulled my credit report for all the addresses of creditors. Search on the Internet. If you can't find it, oh well. The collection agency's address should be good enough.

[tcreegan]

no address for creditor

Hi everyone,

Hi Dawntyoung, I thought it was a major bad if you missed a creditor on the matrix, but it turns out courts consider the debt discharged anyhow. If they ever do come after you (probably via another collection agency) you just need to give them the case # and file date. Not a big deal.

Tom in Colo

[ccsjoe]

Hi everyone,

Hi Dawntyoung, I thought it was a major bad if you missed a creditor on the matrix, but it turns out courts consider the debt discharged anyhow. If they ever do come after you (probably via another collection agency) you just need to give them the case # and file date. Not a big deal.

Tom in Colo

Tom, can you please expand on this? Thank you

[tcreegan]

leaning on debtor

Hi all, Hi cssjoe,

Lender hears of BK and quickly sells off as many of the debtors debts as they can. Debt gets bought by Collection Company #1 Collection company #1 has never received the original BK notice mailing. They begin to use the usual collection methods; saturate the phone with calls, daily letters, move up to threatening letters and threatening phone calls.

Send you mail BK notice by mail return receipt requested to the main corporate office. Ideally, all calls, letters, etc will cease. For each attempt to collect for this debt, write out the details, time and date. If you build up a number of these you go after them for violating the automatic stay. Get your lawyer involved but it is probably easy enough to do pro se. You can get some serious cash out of this....think hundreds per # of cases you have.

sorry for the rambling.....

If you miss a simple unsecured creditor on your matrix they will not get the BK notice sent out by the court. Not knowing there was a BK, they continue to collect the debt (calls, letters, veiled threats, etc) You send them a copy of the BK notice with the case # and date filed highlighted. If you get anything that looks like a collection attempt, docuement il and if you have enough, go to court.

When they try to tell you that debt is still valid b/c they weren't notified, tell them to pound sand....and contact the BK court judge

its been a rough week, I hope the garrulous rambling I left here make some sort of sense to some one.....

[tcreegan]

Hi all,

Hi Dawntyoung, I thought it was a major bad if you missed a creditor on the matrix, but it turns out courts consider the debt discharged anyhow. If they ever do come after you (probably via another collection agency) you just need to give them the case # and file date. Not a big deal.

Tom in Colo
Tom, can you please expand on this? Thank you

You pulled your credit reports, looked through the stack of bills, and you have your list of creditors for the maxtrix. After you put that together, have the 341, get a discharge and case closes. Out of the blue, a collection agency starts to aggressively collect an a pre-petition debt that you had completely forgotten about. You tell them about the BK and they still pester you for a payment, saying the debt wasn't included in the BK and so is not discharged. Do not believe a word they say. Get the main address for the company and mail them (ret. recpt requested) a copy of the BK notice with the filing date and case # highlighted. When you get the ret. rec'pt back, document everytime this company contacts you about the debt. Take these documentations to you lawyer and see if he will prosecute them. Penalties are in the multiple hundred $$ range. For each time they break the rule.

Trick is to make sure the company gets a copy of the BK notice and you have some sort of recpt that proves that.

Legit companies will usually stop all billing ASAP. To get a statement or payment book from them, you have to be the one asking for it. Best is to request in writing.

Anyhow, enough is enough........

Tom in Colo