BK and Bank account.

[bknflorida]

Pay Day Loans/BoA

BE CAREFUL with the PayDay loan. I was unable to close my account due to having a social security direct deposit. Upon advise from my attorney I paid $30 for a stop payment on that check. Well....the day of my 341 hearing (2 weeks AFTER the due date & stop payment), the jerks ran the check through anyway. Because Pay Day loans are electronically deposited, BoA says it wasn't their mistake so not only was I charged the $30 for a stop payment but $410 for bounced check charges! BoA was "nice" enough to credit back 4of the charges but due to this I was unable to make my car payment as planned & now I'm behind & was ready to sign my reaffirmation which I now cannot do until my payment is caught up. I was livid so I called the Pay Day people myself & they said they didn't know I was filing bk & never received any notice, which I found out was a lie. They were on my list of creditors & were sent a notice like everyone else from the court. My attorney is sending them a letter to try and retrieve all bounced check fees but I'm not holding my breath for that to happen.

Good luck but the only way to stop it is to close your account ENTIRELY!

[TJR70]

Yeah that does suck.

Ok this is how it has happen to me. I did 2 payday loans one from a local check cashing place and one from my credit union. So I walked away from my account from the advice of my lawyer. First the credit union paided the for the payday loan from the local check cashing place that i had given the check to. 2. I made a payday loan from my credit union and the money is due the end of feb and the I am having car payment to that same account and I am walking away from the car.

So yeah to me it doesnt seem right to walk away from this the total amount is about $2k. I feel guilty for walking away but at this point I cant even think about paying it off.

[bknflorida]

Don't feel guilty, Pay Day loans are highway robbery! They prey on those of us who are desperate & usually are a last effort for those who really are trying to avoid bk but it only adds HUGE fuel to the fire and brings the need for bk on quicker.

I felt guilty (& still do) but I had no choice. Everyone says it gets easier once you file but I'm not feeling that sense of relief yet. All the bad stuff seems to be happening since I had my 341 meeting & I'm just ready to move to an island far, far away at this point!

Good luck!

[TJR70]

Yeah, I am still keep that option too running away to an island. BKNFlorida at your 341 meeting on the 20th did the trustee even bring up your bank accounts?

[bknflorida]

No, not a word. The only things she said (& I was not prepared for) was to ask if I was "actively looking for a new place to live" & stated she wanted a new address for me before 30 days. She also asked who I used to prepare my taxes & stated I was not to spend my tax refund this year because it isn't mine. No other questions during the meeting.

[TJR70]

Tax return, were you a asset or no asset case?

[bknflorida]

No asset case. I thought I might be able to keep it but apparently the Trustee had other ideas.

[TJR70]

ok thanks for the reply.

My lawyer said I am proctect since its child earn tax credit but I heard that they can take it. What ever helps me get out of this process faster I am happy..

[bknflorida]

There was a lady in front of me that had the Earned Tax credit & the Trustee did say she wanted to look at hers & it didn't sound as if they would take her earned income portion. Good luck!

[TJR70]

thats good to hear.