If I file for bankruptcy do I include payday loans?

Answer by  flamiss22 (5081)

You can include payday loans in a bankruptcy. These kind of loans are usually usury and considered subprime. Since they are not mandated by the government you can do so.

Answer by  tamarawilhite (17883)

Yes. You must include the payday loan in the bankruptcy or the lender will still pursue you for the debt because it will not be included in the repayment plan.

Answer by  John (9008)

If you are filing for bankruptcy, you need to discuss all of your debts with your lawyer. In general, however, every debt, no matter what type or what source, must be listed as part of your bankruptcy filing. You are also usually not allowed to get into more debt while the bankruptcy is pending.

Answer by  CaptureLife (82)

Filing bankruptcy should cover all of your debt including pay day loans. Thes loans are usualy at high interest and are hard to recover from if you are already financialy struggling. Filing bankruptcy will keep lenders from garnishing your wages. Alter your attorney of any such debts so it can be added to your file.

Answer by  Matt87 (20)

Yes, filing either Chapter 7 or Chapter 13 requires you to include any loan, except for student loans. Also court costs and fines are not considered debt.

Answer by  ksn (18)

If you are going to file for bankruptcy, you should include all of your current debts. If you currently owe money to any payday loan companies then you need to include these in your bankruptcy filing paperwork.Failing to include the debt will result in it not being discharged in your case, and you will still owe it.

Answer by  dsmith42 (371)

Yes. The exact nature of your filing will depend on your state's laws regarding bankruptcy, but generally you will be listing all assets and liabilities, though some will be exempted.

Answer by  Roland27 (16334)

Yes, you should include all of your current debts. Things like taxes and student loans are not included but other small loans like these are.