Under the Mississippi Check Cashers Act, the maximum amount you can borrow is $400. For example, a borrower writes a check for $400, pays the $72 fee, and receives $328 in cash. You may have more than one payday loan with a lender; however, the total amount may not exceed…
NO!!! The lender cannot threaten or use criminal prosecution to collect. However, the lender may file an action against you in civil court. If you cannot repay the loan, you may request that the lender place you on a payment plan. However, the lender is not legally required to grant…
Willful and malicious injury debts are rare, but they happen when someone has placed a claim against you, stating that you intentionally hurt them or their property. In the Fifth Circuit Court of Appeals (which includes Mississippi), a “willful injury” is one where the debtor purposefully caused the injury, and…
Debts stemming from a fine, penalty, or forfeiture payable to and for the benefit of a governmental body, (other than a tax penalty in some cases), cannot be discharged by bankruptcy. Criminal restitution in all forms will have to be paid in full; however, filing a Chapter 13 bankruptcy can…
Something most people do not realize (including attorneys who are not versed in bankruptcy law), is that if someone has been hurt and there is a statute of limitations governing the timeline the person has to take action upon that injury (using personal injury as one example), filing a bankruptcy…
Yes. Payday loans are classified as unsecured debt. If you cannot repay your payday loans, consult with an experienced bankruptcy attorney immediately to discuss your legal options.
Payday loans are also referred to as cash advance loans, delayed deposit loans and deferred presentment loans. In a payday loan, a borrower writes a check to a lender in exchange for a short-term cash loan. The lender does not cash the check until the borrower’s next payday, up to…
Yes…but let me explain why you want to list everyone. The bankruptcy rules require you list all of your creditors so the court can get an accurate picture of your financial situation. Listing everyone you owe does not mean you will lose your house or car or other property. Listing…
Within 90 Days of Filing Bankruptcy: Luxury items charged to credit cards that total more than $550 within the 90 days of your bankruptcy filing are presumed to be non-dischargeable. Luxury items are defined as goods or services that are not reasonably necessary for the support or maintenance of your…
Individuals with excessive debt sometimes wonder whether it makes sense to file for bankruptcy. There are many reasons why people who need financial help should file for Chapter 7 bankruptcy or Chapter 13 bankruptcy. Making this decision is something you should discuss with a well informed Mississippi Bankruptcy attorney who…