I had a loan with a loan-shark... My payment was due 5 days ago... I have been calling and leaving voice messages... no calls back, which I found weird becasue this guy was very sharp about payments on time. I put his name on yahoo search and it came back that he was killed late October and he was been investigated by the federals for threatening violence to collect a debt....
now what??
2006-11-09 09:08:27 · 12 answers · asked by Luis R 1 in Business & Finance ➔ Credit
When I did the online search... websites from different newspapers and tv news were reporting that he was shot in his house
2006-11-09 09:14:06 · update #1
he was under investigation by the FBI and plead guilty....
2006-11-09 09:18:42 · update #2
Jump for joy?? lol
I don't know what to tell you... I'm sure there's someone taking over for him or who knew what was owed and by whom.
Good luck!
2006-11-09 09:11:57 · answer #1 · answered by DS 2 · 0⤊ 0⤋
Actually, you still owe a debt. Whoever this person's heirs are can try to collect it.
Look at it like this, lets say you take out a loan from Bob's National Bank. That bank goes out of business. Its assets will be bought up. Those assets include notes of lending. Banks can sell them to each other if they wish, but you still owe the money to whoever is holding the note.
That is if this is a legal loan. Now, a loan from an actual loan shark would not have this same legal backing. However, the loan was illegal to begin with and people might come knocking at your door with illegal intentions.
2006-11-09 09:15:00 · answer #2 · answered by A.Mercer 7 · 0⤊ 1⤋
I hope it is not YOU we are reading about next on Yahoo! for being shot in your house. You may want to contact his estate and see who you should pay, if he used violence to get his debtor paid, his heir may also. BTW, he was probably shot by a client...are you sure you know where you were that day in October? you may want to get your story straight before the FBI comes knocking.
Note to self: don't get loans from loan sharks
2006-11-09 09:26:29 · answer #3 · answered by ragzitini 2 · 0⤊ 1⤋
You're very lucky..I hope you take this as a lesson learned. Hopefully your name does not come up in the investigation...I would still watch my back if I were you.
2006-11-09 09:17:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Write it off for now, but don't be suprised if some big scary guy comes'a'calling to collect on it.
2006-11-09 09:18:16 · answer #5 · answered by JesseAileen 2 · 0⤊ 0⤋
I suppose posting this innocent sounding question is going to be your alibi for when the finger gets pointed at you. Forget it, they will see through it in seconds. Do the decent thing and hand yourself in.
2006-11-09 09:15:59 · answer #6 · answered by jackie j 2 · 0⤊ 1⤋
I'd sit on it until somebody caming "knocking" to collect.
2006-11-09 09:10:08 · answer #7 · answered by Bob 3 · 0⤊ 0⤋
Someone will come looking for it, and when they do, you better still have it.
2006-11-09 15:26:09 · answer #8 · answered by NETTA M 3 · 0⤊ 0⤋
I WOULDN'T COUNT ON YAHOO SEARCH IF I WERE YOU - REALLY FIND OUT FROM A SOURCE WHO WOULD KNOW..LIKE HIS MAMA.
2006-11-09 09:10:09 · answer #9 · answered by Anonymous · 0⤊ 1⤋
You should be cleared of your debt.
2006-11-09 14:30:43 · answer #10 · answered by Mariposa 7 · 0⤊ 1⤋