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Question
I took out two payday loans, my fees are due on 060107. Unfortunately I got in car accident on May 23rd, my vehicle got total, and it was my fault (failed to yield). I had to close my checking account.I have to pay deductible for my vehicle repair, ticket fee and towing fee. Plus my rent is coming up. I also ended up having some medical expenses. What is going to happen to me, am I going to jail? Please HELP ME!
Unless they can prove intent to defraud you wont go to jail for the checks. Most prosecutors will not prosecute on these types of obligations. They do not want to be the collection agency for these types of companies. This is a civil matter, not a criminal matter. Make a payment proposal to them. Do not let them intimidate you with threats. Worse case scenario they could get a judgment and garnishee wages if allowed in your state. Beat them to the punch and make your proposal.
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Answers by Expert:
Michael Brotherton
Expertise
Consumer/Debtor Rights Advocate. Mike Brotherton is a negotiator with over 30 years experience in consumer lending and collections. Mike has 30 years in the credit and collections industry as a former loan officer, debt collector and manager of two finance companies over several years. Mike is well versed in Loss Mitigation practices and the legal collection process. He has helped literally thousands of people over many years overcome serious financial problems such as foreclosure, creditor lawsuits and abuse by debt collectors. For more information about resolving your "financial emergency" visit www.financialemergency.com. FinancialEmergency.com is a consumer web site which actively promotes Fair Debt Collection Practices and other consumer protection laws. We teach DEBTOR RIGHTS and enforcement of those rights. The more informed you are of your rights and the credit collections practices of creditors the more peace you can have dealing with your FINANCIAL EMERGENCY. Most financial problems are fairly common and as such have some very common solutions. The key is understanding your rights in the collection process and how to enforce them if need be. Primary business- Debtor Rights Advocacy and Debt Mitigation relating to foreclosure, creditor lawsuits, and other serious financial problems. www.financialemergency.com (copy and paste in browser).
Experience
Over 40 years combined experience negotiating disputes and resolving financial issues related to consumer debt, corporate issues and mortgage modifications.
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