in missouri can a payday loan company prosecute if you made a payment arrangement and missed a couple payments, even if they didnt bother to contact you when the payments were not received. I have already givent hem money
2006-10-18 16:11:08 · 9 answers · asked by heartcoregirl 2 in Politics & Government ➔ Law & Ethics
the only way the can get their money is through small claims court. .
2006-10-18 16:14:28 · answer #1 · answered by miraclehand2020 5 · 0⤊ 1⤋
A lot of these companies are con companies to real addresses and if they were proper instead of threats for years why do they not go the court route here is a link for how bad some of them are
http://www.consumeractiongroup.co.uk/forum/showthread.php?335471-Capital-Finance-One-MT-Collect-read-how-to-deal-with-them
2014-04-24 22:17:26 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I hope you've got a copy of your loan agreement because you may be in big trouble. It won't be a "prosecution", which is the word for when you wind up in criminal court, but for starters, there may be a late payment fee of some exorbitant amount and the interest probably kept right on accruing when you missed those payments which means, in other words, you may have owed them some certain amount of money before you missed those payments but now you owe them a heckuva lot more in interest and penalties.
And the guy who said they had to take you to small claims court is wrong.
If you think you've gotten caught back up with them, I would be sure and get a current account statement showing what you owe and what yuou've paid.
2006-10-18 16:24:01 · answer #3 · answered by spongeworthy_us 6 · 1⤊ 0⤋
Probably. But in a perfect world, people would be able to prosecute payday loan companies! Stay away from those ripoffs! Also, rent-a-center type places, where they rent you a used TV for 4 times the price of a new one. ETC.
2006-10-18 16:28:44 · answer #4 · answered by worldinspector 5 · 0⤊ 0⤋
If you signed a note that obligated you to make payments according to certain terms and you didn't make the payments according to the contract, it is very likely they can sue you and get a judgment for the balance of what you owe, including their court costs and attorney fees. If I were you I'd get busy and pay them back.
2006-10-18 16:15:32 · answer #5 · answered by RLP 3 · 1⤊ 0⤋
A lot of small claims actions are filed when the borrower completely defaults and has demonstrated no intention to pay their debt. Sounds like you are NOT in that category, I doubt they'll go to the trouble to sue you for breach of contract or damages.
2006-10-18 16:16:44 · answer #6 · answered by FrescaBoy 2 · 1⤊ 0⤋
Anything's possible. Although I think there is certain length of time that they have to collect the money. Your best option is to call a local law office or three and get a free over the phone consultation. They can answer all kinds of legal questions.
2006-10-18 16:13:52 · answer #7 · answered by Anonymous · 0⤊ 1⤋
yes they can. If you have a loan with whoever you know you are suppose to comply with the payment arrangement you had made with them. Start paying back!
2006-10-18 16:15:07 · answer #8 · answered by ♥♥♥GODDESS♥♥♥ 5 · 1⤊ 0⤋
yup! and yup! They are like loan sharks,,It is still your responsibility to repay them,,, they are not your parents,, your all growed up right??
2006-10-18 16:18:27 · answer #9 · answered by kitkatish1962 5 · 1⤊ 0⤋