Cash advance organizations offer a short-term loan of some hundred dollars which is paid back regarding the borrowerвЂ™s payday that is next.
The borrower usually writes a post-dated check to the lender to obtain the loan. Often the cash advance loan provider will demand a declaration that the debtor just isn’t considering bankruptcy, and, sometimes, that the debtor will perhaps not register bankruptcy later on.
Guarantees not to register bankruptcy aren’t contract that is enforceable consequently they are considered void against general public policy. Nevertheless, if somebody 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. Read more