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Can You Go To Jail In Texas For Not Paying A Payday Loan?
hellomart
post Feb 20 2009, 11:10 PM
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The can, and probably will, sue in civil court for the value of the loan. In the US, ONLY the DA can file criminal charges. No sane DA will file criminal charges over a payday loan without OVERWHELMING evidence you never intended to repay the loan. The entire business model of payday lenders is KNOWINGLY accepting post-dated checks when they KNOW you don't currently have the funds to cover them. You did NOT deceive them.
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Tonset
post Mar 27 2009, 05:03 AM
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Is the whole business model based on write-offs then?
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pallmall
post Apr 23 2009, 04:38 PM
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jail time would seem a bit harsh. Unless you fraudelantly claimed the money


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Piper30
post Apr 23 2009, 06:49 PM
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I don't think so. Some companies my threaten you saying it is some kind of fraud to make you pay back so that you'll make sure you will repay the loan asap.

This post has been edited by Piper30: Apr 23 2009, 06:43 PM
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augmarsh
post Sep 26 2009, 05:29 PM
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QUOTE (hellomart @ Feb 20 2009, 11:10 PM) *
The can, and probably will, sue in civil court for the value of the loan. In the US, ONLY the DA can file criminal charges. No sane DA will file criminal charges over a payday loan without OVERWHELMING evidence you never intended to repay the loan. The entire business model of payday lenders is KNOWINGLY accepting post-dated checks when they KNOW you don't currently have the funds to cover them. You did NOT deceive them.



I know they can hassle and threaten you. I have payday loans and my checking account is in arrears because I did not have money to pay them. You ask them not to run the ACH debit thru until a certain date and they do it anyway because you signed an agreement. I extended the loan by paying only the interest a few times, but can't seem to get caught up. Never again will I get another payday loan. The worst nightmare ever. ALL PAYDAY LOANS SHOULD BE ABOLISHED!

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