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Should i take out some payday loans?

Hainesport, NJ |

is it a good idea to take out some pay day loans before my debt is discharged? so i can have them included in my bankruptcy?

Attorney Answers 6


  1. No. If you take out a bunch of payday loans in advance of bankruptcy with no intention to pay those loans back, that would be fraud. Don't do it. Your attorney should tell you the same.

    The information provided in this post is not "legal advice." Rather it is general information on common legal issues. If you have questions concerning your specific situation, it is always best to consult an attorney in your area.


  2. Please don't do it. There could be a presumption of fraud, especially if you took them out in the 90 days before you file BK.


  3. Title loans yes, if you need to pass the Means Test. Of course, title loans you have to repay to retain the vehicles. Otherwise, is it your intention to rob with a pen instead of a gun?

    Hope this perspective helps!


  4. You should ABSOLUTELY borrow any amount you can from as many payday lenders as you can find -- if you want to be charged exorbitant interest, pursued to the ends of the earth by the sleazebags that operate these scams, and denied discharge of the debts because of the fraud that can be inferred from borrowing on the eve of bankruptcy.

    I think you already knew that it was a bad idea and just wanted to see how vehemently attorneys would talk you out of it.


  5. I am not sure the other attorneys are addressing your question. This has at least two interpretations.

    You did not say take out this debt before filing, you said before discharge.

    If you take this action, there would be no fraud and is perfectly legal.

    But more importantly,it would be absolutely stupid.

    Your debt is discharged from the date of filing not when your "debt is discharged." You get a discharge four to six months after filing.

    Don't be dumb. No matter what you meant, this is a terrible idea and you are probably headed to trouble no matter what advice you do or don't take.

    Please contact me directly with document for a free 30 minute consultation to get more concrete advice. This is not legal advice. I don't have enough information to give actual legal advice. I can only take the limited information presented and provide a framework to know how your situation may turn out. I may have questions that bring up issues you did not think were important but make a big difference.

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