My husband took out some payday loans and his hours at work had went down a great deal... What im wondering is if they can do anything besides calling and wage garnishment.. i have read on their papers that they cant prosecute and pursue criminal action... These loans r like from money mart and cash 1.. Thank you for all ur help.
2007-11-28 13:46:43 · 7 answers · asked by funny_mnky 2 in Business & Finance ➔ Credit
When ppl say Fraud.. What do u mean by that?
2007-11-28 13:58:22 · update #1
They will garnish his pay but can't send him to jail unless he committed fraud.
2007-11-28 13:55:30 · answer #1 · answered by shipwreck 7 · 0⤊ 0⤋
When someone mentioned 'fraud', that meant:
If your husband gave wrong information *on purpose* when he took out the loan, then he committed fraud.
I'm guessing that he didn't and is now having problems because he's not getting enough hours at work.
Please try to get this paid off as quickly as possible. Even if it means you have to eat tomato soup and ramen noodles for the next 2 months. Payday loans turn into a black hole of debt and finance charges.
2007-11-29 06:07:45 · answer #2 · answered by Ceebee 3 · 0⤊ 0⤋
I work for a payday advance company in Florida called Amscot. Your husband needs to contact these people that he got the payday advance from and see about a payment plan. I know that we would rather have a repayment plan than no payment at all. They will work with you. We have a "grace Period", but you need to request it on or before the day you are due, and in person. not over the phone. hope this helps.
2007-11-28 14:09:56 · answer #3 · answered by puppylove 2 · 1⤊ 0⤋
No, won't be criminal prosecution, but they will keep at you until they get their money, and by that time you'll have paid a small fortune in interest and fees. Get rid of them as soon as possible by paying them off.
2007-11-28 13:59:16 · answer #4 · answered by Judy 7 · 0⤊ 0⤋
girl forget them people i took out 5 pay day loans and what i did was close my bank account thats only if he had the money deposit in the bank all they could do is threat and threat just to scare you they might even threat to sue but they wont because it wont be worth it because they will be out of money so dont stress yourself out just ignore them what good is credit when you are dead forget them and spend the money he do make on stuff you need
2007-11-30 12:30:43 · answer #5 · answered by ericka t 3 · 0⤊ 0⤋
You need to get away from these entities. They are not nice people. Get a second job, or a third job. Don't borrow money from loan sharks.
2007-11-28 13:51:30 · answer #6 · answered by Anonymous · 0⤊ 0⤋
you would have to hire an Attorney and check to see
if they are actually legitimate Companies and following
the rules of regulations of the States that they are
licensed in and if their Banking Instituitions are legit.
2007-11-28 23:51:39 · answer #7 · answered by Anonymous · 0⤊ 0⤋