Pay Day Loan Question?

I have a friend that got herself into trouble with payday loans. She took out more than she can pay back. They are now saying that she will go to jail for check fraud. Is this true? I have never had a payday loan before. I dont currently have a job, so I have no clue how they work. She will be able to catch them up in the next month or so, but they are telling her that is too late. She is freaking out. She has 3 kids, so I am just wondering, if this is true. I thought you would go to court, be court ordered to pay it off is so many days and then if you dont, then you go to jail, but like I said, I have never got one or been in trouble with them before. So please give me any info that you have on the matter. Thanks

Pay Day Loan Question?

Most likely the PayDay Loan company is just trying to scare her because they are afraid your friend will default on her loans! Those companies make millions of dollars charging outrageous fees on small loans and by allowing people to take on more debt than their salaries can support.

Your friend should contact your state attorney general's office (top public lawyer) and report the threats. They will be able to crack down on the company! Also your friend should consider going to a community legal service for advice to see what her rights are here.

Pay Day Loan Question?

No she wont go to jail. They are trying to scare her so she will get another loan to cover that one. That is how they catch you.

Pay Day Loan Question?

Most attorneys will give you a free consultation. That's what she needs. Pay Day loans are legal crooks. Read about them here

http://www.1-800badcredit.com/payday-loa...

Pay Day Loan Question?

well chances are she wont go to jail. Theyre just trying to scare her. They would have to take her to court and get a judgement and unless it is a large amount they would be hard pressed to get her arrested. She should however pay them as soon as possible. tell her to try to talk to them and let them know exactly what she can pay and when. they will probably mess up her credit but that can be fixed when she pays them off. tell her to make sure she pays them and there are better ways on borrowing than using those places.

Pay Day Loan Question?

What I'm guessing here is that she wrote checks that ended up bouncing. Yup, that could end up with her in jail - though the company probably would rather have it all paid off.

Basically, you should not use these services - ever - for any reason - ever.

They are legal loan sharks and all around bad news. To keep people in line they use the legal system instead of broken bones, but either way - it hurts.

Pay Day Loan Question?

No she wont go to jail. Payday loan bad idea (interests) she need another loan for paid this. I found interesting information about your answer %26amp; options here. http://all-debt-consolidation-loan.blogs...

or a partime job here: http://all-student-loan-consolidation.bl...

Pay Day Loan Question?

I am a payday lender.

There is nothing wrong with payday loans and legitimate operators. It is the unscrupulous operators that give this, and any industry, a bad name.

You cannot go to jail for bad debts. That is why there are such things as bankruptcy laws. Please note, I am from Australia.

Regarding bounced cheques, that is a different story if you knowingly obtained a benefit from writing bad cheques. However, I cannot see anyone going to jail for such an offence if it is the first time.

Anyway, it is not in the lender's interest to bankrupt someone or try and get them put in jail. All they want is payment. A good option would be to negotiate a payment agreement or better terms and then stick to it. Contact is very important. Do not avoid them.

Pay Day Loan Question?

Nah, dont worry about jail time. But dont mess with these companies. Just be vigilant on your repayments. Always borrow only what you can pay.

http://www.paydayloansurvey.com/