Question: I signed my paperwork on May 31, 2010 to go bankrupt for the 1st time. I have debt that equals above $75000. I have been using payday advance loans for over 2 years and on and off prior to that. Recently I have defaulted on the pay day loans that I have outstanding (2) My question is am I able to include these 2 pay day loan in my bankcrupcty even though I already sign and started the bankcrupcty process?
Answer: No, debts that you incurred after you filed bankruptcy cannot be included in your bankruptcy.
Under no circumstances should you be borrowing from payday loan places while you are bankrupt. In fact, it is illegal to borrow while bankrupt unless you specifically advise the lender that you are bankrupt.
You should immediately contact your trustee and determine what course of action you should pursue from this point forward.
Tags: pay day loans