Will the bankruptcy filing be canceled because of it?

I have a car worth $17k and the loan is near about $10k. Presently, I need cash very urgently, so I plan to get a second title loan as I have $4k equity in my car. I’ve to use the fund for necessary living expenses food, utility, water and so on when I file for bankruptcy. Well, I’m aware that I can’t take out loans that I’ll not be able to pay back before bankruptcy as it’s considered to be fraud. But title loan is secured with collateral, so its not a credit card debt. Will the bankruptcy filing be canceled because of it? Is it legal to get a title loan if I plan to file chapter 7 bankruptcy in about 2 weeks?

1 Answers

This is a big no no.  You should be talking to your attorney.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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