consumer bankruptcy laws
I am preparing to file chapter 7 bankruptcy- can I include a payday loan taken 2 months ago?
I reside in Ohio and I have read over the new law and I am confused– under limitation on luxury good sec 310 it says “cash advances aggregating more than $750.00 that are extensions of consumer credit under an open end credit plan obtained by an individual debtor on or within 70 days before the order of relief under this title, are presumed to be nondischargeable” . I took the loan on August 9th and I plan to file October 4th to avoid a court date October 5th. which will be within 70 days.
This is NOT an open end credit plan so does anyone know if it can be dischargedl? If it can’t does anyone know if I will be forced to pay it back all at once or can I make payments?
THANKS!!!!!!!!!!!!!!!
No wonder you are filing bankruptcy if you take payday loans. Biggest scam going. Worse yet if you don’t pay them back…..
The Bankruptcy Law Center Lansing MI Attorneys Debt Relief
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