QUESTION
Can they put me in jail if they said no to my request for something in writing regarding the loan but want me to pay now?
Asked on Apr 23rd, 2013 on Bankruptcy - Arizona
More details to this question:
A payday loan company that either my ex husband or myself took out over 6 years ago had an investigation. The company called me from Texas stating they are filing fraud charges and I will be charged with felony charges. They offered me a settlement of $325 from $650.
4 ANSWERS
It is a violation of the Fair Debt Collections Practice Act to threaten criminal sanctions on a debt.
Answered on Apr 25th, 2013 at 9:17 PM
Debt Collection Attorney serving Chicago, IL
Partner at
Edelman, Combs, Latturner & Goodwin, LLC
2 Awards
1. Failure to repay any loan is not fraud or a crime. 2. Internet payday loans made by persons not licensed under Illinois law (check the Illinois Department of Financial and Professional Regulation, by website lookup or phone) are void as to principal and interest. If the lender can be located and served (sometimes they are in foreign countries or Indian reservations) there may be substantial usury penalties. Do not repay any such loans. 3. No legitimate debt collector threatens people with arrest or refuses to provide a written statement.
Answered on Apr 25th, 2013 at 9:04 PM
Family Attorney serving Henderson, NV
at
Harris, Yug & Ohlinger
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Statute of limitations for fraud in Nevada is two years from the date of discovery, breach of a written contract is six calculated from the date of last payment.
Answered on Apr 25th, 2013 at 8:59 PM
Bankruptcy Attorney serving Phoenix, AZ
at
Law Office of D. L. Drain, P.A.
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Unless you acted in a fraudulent manner this is just a ruse to get you to pay. That does not mean they cannot sue you in civil court. Talk to an attorney in the state where you live to determine your legal rights.
Answered on Apr 25th, 2013 at 8:54 PM