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cortrightlaw
cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience:  Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
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CHAPTER 7 BANKRUPTCY/PAY DAY LOANS ISSUE Due to the economy,

Customer Question

CHAPTER 7 BANKRUPTCY/PAY DAY LOANS ISSUE

Due to the economy, I lost my business of 20 years last March. I am currently getting by on social security and a near minimum wage job.

By the time I my new income stream started I was behind on essentials like utilities and car payments.

I was aware of most of the pay day loans but I thought despite the high interest 1 or 2 loans and I could get caught up. Well things haven’t worked out the way I expected and I don’t see how I can get these loans paid down soon enough to avoid hundreds of dollars of interest payments.

I guess because I have developed an amiable personal relationship with these people and they really have saved me from several catastrophes I am feeling both guilty and at the same time intimidated by possible harassment. I suspect these companies could turn out to use "pit bull type" collection tactics.

I don’t think I have a choice but to tell them that things didn’t work out the way I expected and direct them to my bankruptcy attorney. They do have checks that they can try to catch but my plans are to either keep a low balance or close the checking account.

I feel I need a “sounding board” on this issue and any advice you might have on the pitfalls of dealing with these companies.
Submitted: 1 year ago.
Category: Bankruptcy Law
Expert:  cortrightlaw replied 1 year ago.

cortrightlaw : Just include them in your bankruptcy and close out those bank accounts and they will not be able to harras you. They can be tough in their collection efforts but fortunately bankruptcy law and the relief from debt it grants is a powerful law that they will not want to cross.
Customer:

Thank you for your rapid response. I will take your advice.
They did ask for names of relatives friends, work number etc.

Customer:

Am I correct that if they were to contact these people that would be illegal under bankruptcy laws?

cortrightlaw, Attorney
Category: Bankruptcy Law
Satisfied Customers: 513
Experience: Attorney practicing Bankruptcy Law including Chapter 7, Chapter 11, Chapter 12, and Chapter 13.
cortrightlaw and 3 other Bankruptcy Law Specialists are ready to help you
Expert:  cortrightlaw replied 1 year ago.
Yes once you file bankruptcy it would be a violation of bankruptcy law for them to contact anyone regarding what you owe them.

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