QUESTION
By not paying this payday loan that's like three years old, can they make this a court issue?
Asked on Aug 01st, 2013 on Bankruptcy - New Jersey
More details to this question:
She said that I could be charged with fraud, and it would be a felony is this true?
4 ANSWERS
Debt Collection Attorney serving Chicago, IL
Partner at
Edelman, Combs, Latturner & Goodwin, LLC
2 Awards
If this is a loan by a licensed lender, and it complies with the Illinois statutes regulating high interest loans, it can be enforced. If this is an unlicensed Internet lender, the loan is void, you owe nothing, and you are entitled to get back anything you paid. You can in no event be charged with fraud or any crime. If a debt collector made such a statement it is a violation of the Fair Debt Collection Practices Act. The only problem is that many people who make such threats are scammers. Report the person to the FTC and Attorney General.
Answered on Aug 01st, 2013 at 4:42 PM
Appellate Attorney serving Grosse Pointe Farms, MI
at
Musilli Brennan Associates, PLLC
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This is a standard tactic of payday loan companies, I would suggest you engage attorney immediately and to have them to term and whether or not the various collection laws have been violated.
Answered on Aug 01st, 2013 at 3:46 PM
Business Law Attorney serving Bingham Farms, MI
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James T. Weiner, P.C.
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They would try to charge you for fraud but its unlikely unless you made a misstatement of fact in your application that they could but yes they can sue you civilly for the debt.
Answered on Aug 01st, 2013 at 3:40 PM
General Law Attorney serving Cherry Hill, NJ
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Mark S. Cherry, Attorney at Law, PC
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Possibly, if there are specific facts that fit a fraud statute. Sounds like an overzealous collector.
Answered on Aug 01st, 2013 at 10:49 AM