My husband got a title loan in Illinois for $1,000. The payback on it is $6,000!! He thinks he can just pay what he borrowed + a little interest. I am FURIOUS!! Is there anyway that I can get out of this. $$6,000.00 payback is crazy!!:mad:
Title loans are secured contracts. He agreed to the terms. Has he read his contract and what he signed for??? Interest is very high on this type of loan
How to Deal with Illegal Loans..OhioGal's Primer http://www.debtconsolidationcare.com...allenders.html PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.
Are you one of the borrowers of the loan? If not, then you shouldn't have to worry about it. It is your husband who will be liable for paying it. He won't be able to get out of it unless he pays off the debt in full.
Take care.
As I'm not a lawyer, I believe that "A lean compromise is better than a fat lawsuit".
Yeah. But if she is living in a community property state, then she will be liable for the debt. Her husband should have been careful. He has to repay the loan now.
I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.
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Debt Samaritan
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Title loans are secured contracts. He agreed to the terms. Has he read his contract and what he signed for??? Interest is very high on this type of loan
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.
SOL for all states
http://www.debtconsolidationcare.com...imitation.html
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Hi divahurt,
Are you one of the borrowers of the loan? If not, then you shouldn't have to worry about it. It is your husband who will be liable for paying it. He won't be able to get out of it unless he pays off the debt in full.
Take care.
Posts: 116
Credits: 5186.15 Send message to nandydiana
Yeah. But if she is living in a community property state, then she will be liable for the debt. Her husband should have been careful. He has to repay the loan now.
Debt Samaritan
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Credits: 71492.266580171 Send message to OhioGal1
The only way to not have to pay that full $6000 is to pay off the loan early. The sooner you pay it, the less the interest fees will be.
I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.
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