Ok I have a question about loans....My friend got two loans from two different loan stores....well my friend lost her job and she couldnt pay for the loans so she went ahead and closed her account so that when these loan places would try to get their money from their account they wouldnt be able to get any money, well today she told me that a police officer called her mother home asking for her, and she's afraid that she may be in trouble because of what she did. Can anyone tell me if she may be in trouble because of this? Can loan stores call the cops on you if you get a loan from them and then you close your bank account? Please answer me! I know that my friend did wrong but she is going through a really tough/rough situation and she tried talking to these loan stores, but they told her that they wanted their$right away and didnt believe that she had lost her job. I feel so sorry for my friend because she doesnt know what to do she is very scared...
2007-10-18 16:34:31 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
First of all police would not be calling about a loan.......
You said her account was closed.
I hope this was not a payday loan and she wrote a check for money to be taken out of her account.
Tell her to contact the loan companies and make arrangements.
Almost anyone will make arrangements.
2007-10-18 17:21:59 · answer #1 · answered by Mustbe 6 · 0⤊ 0⤋
Because she had loans from different companies, defaulted on both and closed her bank account, the police may be investigating this as her trying to defraud the companies. She should have contacted both companies and explained her situation upfront. The best thing she can do now is to call those company's and explain what happened and work out a repayment plan. She's still responsible for her debt and even if she filed for bankruptcy, new federal laws are making it hard for filers to totally wipe clean their debt with having to pay most of it back. Unless they can make a case suporting her intent to steal the money by way of fraud, she's not going to jail.
2007-10-18 16:58:41 · answer #2 · answered by CAITLIN 5 · 0⤊ 0⤋
Arrest warrants can be issued to people who have merely bounced a check. So, yes, if she is deliquent in payment, and has vanished from their sight, it is possible that they can try to track her down. This is why they ask for a list of people who know you. So if you pull a disappearing act, they can hunt you down. Her little disappearing act has likely made them suspicious that she is not intending to pay the money back. From the events you describe, it sounds like that is the case.
If a police officer called her mother, he's either investigating, or more likely, there is an arrest warrant out for her.
What should she do? She should contact the loan offices immediately!!!!! I stress immediately, and work out something with them. If she cannot do this, then she needs to find a lawyer to determine if she qualifies for a deferrment or bankruptcy. If she doesn't get this worked out ASAP, then the cops will eventually catch up to her, and she'll be sitting in jail somewhere. I'm guessing she's more than a few months late in payment, which is why there sounds like there's an arrest warrant out for her.
2007-10-18 16:50:17 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Payday loans? These people are not pleasant nor do they care much about breaking the rules. I seriously doubt a cop actually called concerning these loans. More than likely this is just to scare your friend.
If she gave them an actual check, it is possible that they could pursue your friend for a bad check. But payday loan companies tend to not like courtrooms. Judges don't look too kindly on their 600% interest rates. Payday loans are illegal in some states.
Your friend needs to figure out how to come up with the cash to pay these off. Have a garage sale, sell blood, pawn something, collect alum cans, get two jobs -- pizza delivery is flexible and you get tips.
2007-10-18 16:52:52 · answer #4 · answered by bdancer222 7 · 0⤊ 1⤋
Probably "NOT". Did she fail to appear in court? If a police officer was looking to arrest her he would need a warrant and would have to present that to her in person not over the phone and failing to pay back a loan is not a felony so "NO" she is not in that kind of trouble. If that was the case there would be 60 million more Americans in jail including me so relax she will never go to jail for that.
2007-10-18 16:57:16 · answer #5 · answered by Anonymous · 0⤊ 0⤋
The problem is that she closed the account she wrote the check to them off...that constitutes fraud...so yes, she can get put in jail for uttering a false instrument. If she had just let the checks bounce that is bad too, but it isn't any where near as bad. One is a mistake, the other is a criminal act.
Good Luck.
2007-10-18 18:15:37 · answer #6 · answered by Anonymous · 0⤊ 0⤋
what state does she live in?
There is NO debtor's prison if there was, the people that filed bankruptcy would fill it
so the question would be was her INTENT to defraud these companies
I dont know the answer so she might have to go to court to get it figured out
but I doubt she would be arrested if her intent was not to defraud the companies she borrowed the money from.
Also,
I know that this is your friend but PLEASE do not feel so sorry for her that you loan her the money!
Let her work this out herself
2007-10-18 16:40:24 · answer #7 · answered by kissmymiddlefinger 5 · 0⤊ 0⤋
Should I assume that if I replace 'my friend' with 'me' and 'she' with 'I' , the truth would be told?
2007-10-18 16:43:22 · answer #8 · answered by Anonymous · 1⤊ 0⤋