myFICO® Forums
Help
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 

Payday Loans and Bankruptcy

tag
Get Access Now
FLSnowpiercer
Member
‎11-28-2022 06:31 AM
‎11-28-2022 06:31 AM

Payday Loans and Bankruptcy

Had my 341 hearing this past Wednesday, which was a relief.  My friend joked ""No more payday loans"".  Not that I plan on taking any, but could someone take a payday loan while waiting for the discharge and not mess up their discharge?

Message 1 of 6
0 Kudos
Reply
5 REPLIES 5
DogwoodLynx
Frequent Contributor
‎11-28-2022 10:47 AM
‎11-28-2022 10:47 AM

Re: Payday Loans and Bankruptcy

@FLSnowpiercer wrote:

Had my 341 hearing this past Wednesday, which was a relief.  My friend joked ""No more payday loans"".  Not that I plan on taking any, but could someone take a payday loan while waiting for the discharge and not mess up their discharge?

Lol. Please dont do this! Your days of PayDay loans are over. Those are probably one of the worst financial decisions you can make.

 

(Ive been there and thankfully paid it off!)

 

I wouldnt do anything without checking with your attorney. 

Siggy updated Feb 16 2023
Chapter 7 BK discharge: 12/19/22
Inquiries: 6/6mo 7/12mo 7/24mo – Latest inquiry: NFCU - Approved 01/23
Financial Goals: Continue to build by wellness business (currently a DBA), heal my credit report with time and good payment history
“You’re never gonna make the shots you don’t take, so you might as well fire away!” – Little Big Town (music group)

Message 2 of 6
Reply
FLSnowpiercer
Member
‎11-28-2022 10:52 AM
‎11-28-2022 10:52 AM

Re: Payday Loans and Bankruptcy

Lol no. Not planning to take one.  Just a conversation that came up.  

Message 3 of 6
Reply
FireMedic1
Community Leader<br> Mega Contributor</br>
Community Leader
Mega Contributor
‎11-28-2022 03:03 PM
‎11-28-2022 03:03 PM

Re: Payday Loans and Bankruptcy

Dont even sneeze right now till DC has been completed. Your legally out of debt now. Stay that way.


Message 4 of 6
Reply
SUPERSQUID
Valued Contributor
‎11-29-2022 10:16 PM
‎11-29-2022 10:16 PM

Re: Payday Loans and Bankruptcy

Those payday loans are notorious for crazy interest and fees, if possible avoid them. And like Firemedic said dont do anything during the process.

{ BK7 DC 12/2019 } target 1600/ kohls Visa 7000/ discover IT cb 6500 / 2nd discover IT cb 6000/mercury 4100 / firestone 2800 /legacy 3000 /first savings bank cc 3000/ cap1 QS 5000/ cap 1 savor one 3100 /Bread rewards Amex 4k, Penfed PCR signature visa 10k/ penfed gold 7.5k NFCU >signature visa cash rewards 21700/bread cashback amex 8000

>/ nfcu platinum 15k, BABY NEEDS NEW SHOES !!!!!
closed-- reflex, applied bank, first digital, mission lane, ikea, fingerhut, big lots, valero gasoline, ollo, more to come
Rebuilding since September 2020
who i burned - chase, cap 1, TD bank, Sync, were the biggies
Income 40k
Total utilization around 20 pct depending on my current usage/needs
Ficos in the 680 - 690 range, the 9's slightly higher than the 8's
My vantage scores 708 - 711
TCL - about 110k
Retired since 2017
Message 5 of 6
Reply
FLLGuy
Frequent Contributor
‎12-01-2022 07:27 PM
‎12-01-2022 07:27 PM

Re: Payday Loans and Bankruptcy

Personally, I poop on Payday loans!

 

 

Screen Shot 2022-12-01 at 10.26.05 PM.png






Message 6 of 6
0 Kudos
Reply
† Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.