Pay day loan businesses provide a short-term loan of some hundred bucks which will be paid back regarding the borrower’s next payday. The borrower usually writes a post-dated check to the lender to obtain the loan. Often the pay day loan loan provider will need a statement that the debtor is certainly not considering bankruptcy, and, often, that the debtor will perhaps not register bankruptcy as time goes by.
Guarantees not to register bankruptcy aren’t enforceable agreement conditions and so are considered void against general public policy.
But, if a person 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