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Bankruptcy

: The Debt Podcast

Outstanding Payday Loans and Bankruptcy

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Post-dated payday loan checks can be cashed even after a bankruptcy is filed, according to a federal appellate panel.  They may not be able to keep the money, however. Most bankruptcy filings trigger an automatic stay which stops collection of debt by creditors.  One exception to this stay is for “negotiating” — cashing — a check.  [...]

Full post as published by The Debt Podcast on December 01, 2008 (boomark / email).

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