My wife took out a loan from one of these cash advance type places. We have been swamped with problems lately, medical, I'm not working now, etc. We do not have the money to pay them. They are calling not and threatening to go to the states attorney with this? I live in Illinois, can these prefer charges against my wife? Help please
Offer to make partial payments on the amount until paid in full. They don't want to go to court but they will if they have to. I went through this exact same thing and I made small weekly payments on the check until it was paid in full.
That's about the only thing we can do but they don't seem very interested in it. The threats have us scared to death.
Tell them you will see them in court! I am willing to bet they are guilty of predatory practices. Most of these places are. They have loan shark interest rates and I'm sure they don't want to go to court and reveal that. A long time ago I had a used car my mother gave me. It was paid for. 'Old Betsy' I called her. Well I needed some fast cash so I went to one of those 'Title' places that was popping up all over like Burger Kings. My loan was $300 with a 25% interest rate. That wasn't bad. But I had to pay $75 to renew the loan every month until I paid off the principle. Please read that line again to be sure you read it right. I was paying $75.00 a month for 7 months for the privilege of paying them their $300 when I could afford to. I called a lawyer who advised me that I had paid back the principle plus the interest and I wasn't to pay them a penny more. He asked me for their number and I gave it to him. he said he would take of it. 3 days later he called and told me to go pick up my title. He said, "They know they were breaking the law. They won't bother you again - I threatened to take them to court!"
SoParkDiva is correct. Tell them you will see them in court. I do not know the contract that your wife signed but I would bet money that they are more afraid of the state's attorneys office then you. Many of these businesses walk a thin legal line calling their outrageous costs fees instead of interest. Since you are unemployed and are having medical problems, call your local Legal Aid office and see if they can help you in some way. Your need for additional time to pay your debt does not give them permission to scare you and your family. KK
Their fee are terrible and I really wonder how they get away with this. They have told us they have to submit her check anyway, that this is the law, a new law they claim. Thanks to everyone who responded, we will take your advice. Hope we don't end up in court as right now there is no way we can afford a lawyer. Thanks
Coldnorth, you missed this part of KK's post. Legal Aid is free to you if you are unemployed or cannot afford an attorney. Legal Aid consists of attorneys who donate their time and resources to assist you. Good luck.
