If a loan is illegal in your state, what are your rights?
Date: Fri, 07/24/2009 - 13:18
But curiosity has me wondering, what are a person's rights if they took out a loan with a company that does not have the legal right to loan in their state? Are you still responsible, other than ethically, to fulfill this obligation? I'm in Illinois btw.
Don't take this as a message hoping to find a way out. I do however wonder, what action could be taken against a person.
Quite honestly, if you think about it, usually a company who isn
Quite honestly, if you think about it, usually a company who isn't licensed to lend are difficult to deal with anyway, legally, there isn't a whole heck of a lot you can do because most companies who are lending in an illegal fashion are nearly impossible to locate and tend to change their names quite often for that very reason. They have this idea in their heads that they are above the law.
i get what shazzers is saying.. most illegeal places will not ev
i get what shazzers is saying.. most illegeal places will not even give you an address to mail in a payment!! that always baffled me, do they not want to get paid??
i have never heard of an illegeal lender seeking legal action, i doubt if they could... of course we advocate paying what was borrowed