Pay day loan businesses provide a short-term loan of some hundred dollars which is paid back regarding the borrowerвЂ™s payday that is next. To get the loan the debtor often writes a post-dated check towards the loan provider. Often the loan that is payday will demand a statement that the debtor just isn’t considering bankruptcy, and, often, that the debtor will maybe not file bankruptcy later on.
Guarantees never to register bankruptcy aren’t enforceable agreement provisions and therefore are considered void against general general public policy. Nonetheless, if somebody falsely represents she is not contemplating bankruptcy to obtain a loan, the debt may be determined non-dischargeable in bankruptcy and the person may have committed a criminal act of stealing by obtaining the loan under false pretenses that he or. Continue Reading