Illegal pay day loan?
Date: Thu, 01/06/2011 - 00:35
Hey everyone. I've found myself in a bit of a pickle, and am curious if anyone has any advice.
I got my first pay day loan from Check City in Feb. of 2010. Everything went smoothly. I was working at a car dealership at the time. I continued getting loans when I needed them.
I changed jobs in April, but was never asked to update my work information, so my records with CC stayed the same.
I was laid off in July, and continued to get loans through CC to help keep my bills paid, and was always able to pay them off... Until last month.
When collections contacted me, I informed them that I was unemployed (and had been for months) to which they said I shouldn't have received the loans and that they would be contacting the store.
I don't suppose that with them giving me a loan under false pretenses like that would allow my debt to be expunged? Is there any potential legal trouble that I might have to face? I did not intentionally lie, I was just never asked to update my information.
They are wanting me to pay $100 a week, which is undoable. If I don't comply, could they charge me with fraud?
Any help is GREATLY appreciated.
I got my first pay day loan from Check City in Feb. of 2010. Everything went smoothly. I was working at a car dealership at the time. I continued getting loans when I needed them.
I changed jobs in April, but was never asked to update my work information, so my records with CC stayed the same.
I was laid off in July, and continued to get loans through CC to help keep my bills paid, and was always able to pay them off... Until last month.
When collections contacted me, I informed them that I was unemployed (and had been for months) to which they said I shouldn't have received the loans and that they would be contacting the store.
I don't suppose that with them giving me a loan under false pretenses like that would allow my debt to be expunged? Is there any potential legal trouble that I might have to face? I did not intentionally lie, I was just never asked to update my information.
They are wanting me to pay $100 a week, which is undoable. If I don't comply, could they charge me with fraud?
Any help is GREATLY appreciated.
As you were never asked to update your employment information, I
As you were never asked to update your employment information, I don't think they will be able to charge you with fraud. As you're unable to pay off your debt, you should negotiate with collection agency in order to settle your dues. You can take a look at the given page in order to know the required steps to settle your debts: http://www.debtconsolidationcare.com/steps.html
Quote:If I don't comply, could they charge me with fraud? It's m
Quote:
If I don't comply, could they charge me with fraud? |
It's much better if you'd go through your loan agreement once and see if you come across anything 'questionable'. You may clarify your doubts by calling their CSR and you can also share it with us over here. If your loan conditions don't mention anything regarding updates on your personal information, then I don't think there's really a reason to get scared right now.
Anna has shown you through an option that might also be acceptable to your creditor. Go through the steps and feel free to ask questions in this regard.
