Can Payday Loans and cash cheques includied in BR?

Buitre

Hi all,

Can pay day loans ( like poundstillpayday.co.uk) be included in the BR? I took one like 5 months ago, and I am renewing it every month...
another question is with this companies who cash cheques...I currently have 2 cheques with the money shop...Once I am banrupcy I think that Lloyds TSB will close my account...So, what happens with those cheques?

Thank you

skylight

Yes. Almost all debts are included in BR.

As to the checks, they will either clear through Lloyds or Lloyds will bounce them.



Bear in mind, that you are probably looking at a BRU though for this. You have taken credit that you are not able to pay back and you have done this very recently. Its frowned upon by the ORs.

Buitre

Well, the cheques has been cashed almost 4 months ago. And the payday loan too. What I am doing so far with the cheques is averymonth pay a fee to extend it...
With the payday lona is the same. I borrowed money like 5 months ago, but everymonth I need to "renew" it.... So, is like a new loan everymonth....
I read on some forums that the important is the date of the fist loan, not the last loan ...I am not sure about this ...