He did it!!

Date: Thu, 11/03/2011 - 14:25

Submitted by divahurt25 on Thu, 11/03/2011 - 14:25

Posts:
Credits:
[Donate]

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:

Total Replies: 4

Title loans are secured contracts. He agreed to the terms. Has

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

Submitted by SOAPLADY on Thu, 11/03/2011 - 19:29

SOAPLADY

( Posts: 17315 | Credits: )

Hi divahurt, Are you one of the borrowers of the loan? If not,

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.

Submitted by savion.parker on Thu, 11/03/2011 - 20:44

savion.parker

( Posts: 117 | Credits: )

Yeah. But if she is living in a community property state, then s

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.

Submitted by nandydiana on Thu, 11/03/2011 - 21:35

nandydiana

( Posts: 114 | Credits: )

The only way to not have to pay that full $6000 is to pay off th

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.

Submitted by OhioGal1 on Fri, 11/04/2011 - 07:41

OhioGal1

( Posts: 5253 | Credits: )