i have 2 payday loans taken out while i was employed and i got fired from my job and now im unable to pay them back. theyre taking me to court for civil claim for money if i dont have a job or any money will they put a judgement on me or what??
2007-11-25 09:56:05 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
I assume you're in the U.S.A. Yes they will get a judgment. You will probably get stuck with court costs and attorney fees, which will be another $300 or so depending on which State you live in. It will go on your credit which will lower your score. You can't get blood from a turnip so even though they have a judgment it's not worth the paper it's written on. No job = no money. They will probably end up selling it to some collection agency that will hound you to death, hoping to get 10 cents for every dollar you owe. You should offer to pay $10 or so a week until you eventually get it paid off. If you go to court to defend yourself the judge will not be happy that the loan company wasted the courts time if you offered to pay them something. Good luck...been there done that. (:o)
2007-11-25 10:13:40 · answer #1 · answered by Lance 3 · 2⤊ 0⤋
Your ability to pay won't have an effect on whether they are entitled to money or not. Just make sure you respond if necessary and show up at court. If you don't do everything correctly, they will win automatically. At least show up and explain your situation. It at least shows responsibility.
2007-11-25 18:10:18 · answer #2 · answered by Brian F 3 · 1⤊ 0⤋
I would think so. Never Never Never do business with those institutions. I can't believe people pay 30% interest to borrow a couple hundred dollars for one month.
2007-11-25 18:03:04 · answer #3 · answered by Anonymous · 0⤊ 0⤋
They can certainly get a judgment but enforcing it on someone who is unemployed without money will be a big problem for them.....As long as you are in this state you what is known as "judgment proof."
2007-11-25 18:28:40 · answer #4 · answered by CatDad 7 · 0⤊ 0⤋
You owe the money and they will get it one way or another. Get a job and start paying your debt.
2007-11-25 19:30:09 · answer #5 · answered by whata waste 7 · 1⤊ 0⤋
Yes they will - you borrowed the money and didn't pay it back, so you owe them. If you can't pay for awhile, interest will keep adding up.
2007-11-25 18:47:26 · answer #6 · answered by Judy 7 · 2⤊ 0⤋