Tommorow Im fileing for a chapter 7 banruptcy because I have accumilated about $125,000 in back medical bills and what I wanna know is I have a cash advance out and this is in michigan and will the fileing put a stop to the cash advance and make it so I dont have to pay it? Or is a cash advance a secured loan or is it a unsecured? Because the chapter 7 wont get rid of my secured loans.
Answers:
if you list it as one of your debts then it should be covered just make sure it is listed
"Bankruptcy" is a reorganization of your debt, it doesn't somehow magically "make it go away"! The court will decide what you must pay to whom and when you must pay it...
Anyone you list as a debtor will be included. Even secured loans can be included, but you will likely need to forfeit the security...
The Secured Loan information post by website user , LoanSecuredLoan.com not guarantee correctness.
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