amscot loans

Date: Mon, 07/08/2013 - 08:27

Submitted by anonymous
on Mon, 07/08/2013 - 08:27

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Total Replies: 2

I have an amscot loan for 300$ its 331$ to pay back.I have been dealing with them for many years.I lost my job and cant pay it back,I got an extesion but still couldnt raise the money,My bank account is now closed,What I need to know is will they prosecute you for a bad check?Or do they refer you to collections.I am very worried and have tried to get another job but its really hard.

What state are you in? Is

What state are you in? Is this an online or in-store loan? Debts are civil not criminal, you will not be prosecuted for debt.

lrhall41

Submitted by HelpinAZ on Mon, 07/08/2013 - 12:21

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You wont be prosecuted

Amscot is legal in Florida so ultimately you will have to pay it back, but you cannot be prosecuted in any way only collection issues. Florida law is 560.406 Worthless checks states specifically that a check provided to a payday lender cannot be criminal for lack of funds, a closed account or a stop payment. You can go to flsenate.gov to lookup the law it is in Title XXXIII. I used amscot in the past and I know payment plans are available but I think you need to pay around $31 a month minimum just to meet the interest and they will probably want some principal to keep it current.

lrhall41

Submitted by anonymous on Sun, 07/21/2013 - 08:44

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