What are the bankruptcy laws chapter 13?

Can you file on 6 payday loans? I heard you had to be 30 days away from filing from the time you took out these loans. Also in Kentucky it is state law you can only take out $500 max, and I have out about $2,200. Is this a felony?

Answers:
It really depends on your state laws. Chapter 13 essentially means that you are going to repay most of your debt in a structured repayment plan. Under Chapter 7, most of these loans can probably be dismissed as payday loans are a very insecure form of debt, hence the reason you pay 100% APR on the debt.


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