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Does the Public Think Most Payday loans Get Rolled Over?

posted by Nathalie Martin

This cartoon suggests that the public thinks they do get rolled over. Otherwise, this woudn't be funny! 

Download Payday.us.china.

January 21, 2011 at 2:52 PM

Comments

The noticed intention to surrender property is purely symbolic. The debtor can shout "surrender, surrender, surrender" and it remains their property until there is a foreclosure or sale.

I have filed an adversary to compel a lender to complete a foreclosure of an investment property in Florida where the city has imposed fines and orders to repair and the owner is a debtor in a confirmed Chapter 13 where the property was to be surrendered.

It is a real problem for which there doesn't seem to be an accepted solution. I have heard of attorneys who file a motion to value the property at $10; pay off the $10 lien, and proceed. Hasn't happened in my district, to my knowledge.

Posted by: Cathy Moran | January 23, 2011 at 09:19 AM

Payday loans are loan sharking by another name.

Posted by: public auction guy | January 24, 2011 at 07:54 PM

What is the criteria for getting small business loans in india?

Posted by: oil purifiers | February 15, 2011 at 11:50 PM

The comments to this entry are closed.

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