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 Posted: Thu Jan 12, 2006 3:11 am Subject: I took out a loan to pay for my car to get fixed |
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I'm so scared. I took out a loan more than a month ago to pay for my car to get fixed. I couldn't pay it back and I haven't heard anything from the company since the last call that said, "It will be in your best interest to contact us before Friday." That was last friday. Can I go to jail for a bad check? I wrote it in Alabama and I've been scouring the net for the laws on this thing, but I just can't find anything definitive for AL, one of the few states left where there isn't much legislation on the payday advance companies.
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desperateinga
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| Posted: Thu Jan 12, 2006 6:34 am Subject: |
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desperateinga
Hi, welcome to the forums! Sorry to hear of your recent financial situation. Have you actually tried contacting the company? Also, you mentioned writing a check...was this a walk-in payday loan place? They have different rules/laws, which are usually those of the city/state you took the loan.
Chances are, they were trying to get you to call them back because you have a new payday coming up, and they are going to attempt to hit your account again. Contacting their customer service department might offer some settlement choices.
Hope this information helps....
Regards-
Mike
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Teleport
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| Posted: Thu Jan 12, 2006 12:06 pm Subject: |
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Maybe contact your states consumer protection office. They might be able to answer your question.
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CowampChicken
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| Posted: Thu Jan 12, 2006 12:17 pm Subject: |
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Under Section 3-104(2)(b) of the UCC, writing bad checks is not defined as a crime because a post dated check cannot be payable on demand before the due date. I will advise you to check the statutes in your state and get an idea of the current law.
Anyone can be guilty for writing a bad check. It can be you who drew the check or the person who fraudulently passed it on. Any person or a third party who has endorsed and passed the check to some other person is equally guilty. In Alabama, the bank charges of writing a bad check is approximately $10. You need to confirm it with your financial institution. You can not be sent to jail for writing a bad check.
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ben
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