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I think I am going to jail

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kklblue

Member
What is the name of your state (only U.S. law)? Minnesota

In July I got wrapped up in some internet pay day loans. If you are not familiar with payday loans its like getting loan from the mob. I took out a 1300 dollar loan and paid 614 a month in July, August and September just in interest. Fast forward to last Friday. I didnt have the money to pay them payday loan and the entire amount is due, plus pay my rent, so i let them debit my account and when the bank was going to return to sender, which I couldn't have them do because these people are like loan sharks. These people have been calling my work phone 20 times a day, and when I sent them a cease and desist they told me they did not have to abide by it.

Sadly the only chance I had to get out from under this was to lie to the bank and tell them my direct deposit got lost. They paid the debit but now I owe the bank, which I am paying in a DMP. My concern is going to jail for lieing, fraud.

Does anyone have any ideas on what I should do. I am not proud of this, but was totally consumed by fear that they would start calling my boss.
 


HomeGuru

Senior Member
What is the name of your state (only U.S. law)? Minnesota

In July I got wrapped up in some internet pay day loans. If you are not familiar with payday loans its like getting loan from the mob. I took out a 1300 dollar loan and paid 614 a month in July, August and September just in interest. Fast forward to last Friday. I didnt have the money to pay them payday loan and the entire amount is due, plus pay my rent, so i let them debit my account and when the bank was going to return to sender, which I couldn't have them do because these people are like loan sharks. These people have been calling my work phone 20 times a day, and when I sent them a cease and desist they told me they did not have to abide by it.

Sadly the only chance I had to get out from under this was to lie to the bank and tell them my direct deposit got lost. They paid the debit but now I owe the bank, which I am paying in a DMP. My concern is going to jail for lieing, fraud.

Does anyone have any ideas on what I should do. I am not proud of this, but was totally consumed by fear that they would start calling my boss.
**A: you in deep sh*t.
 

kklblue

Member
Could you define deep sh*t. :eek: Are we talking alot of time. I have never even had a parking ticket, don't speed, work hard.
 

acmb05

Senior Member
**A: you in deep sh*t.
Not deep crap. He passed a bad check, it happens all the time. The bank covered the check so he has to pay the bank back. As long as he pays it back in the time frame they gave him he will be fine.

Worst case is they send it to check systems and you are prevented from opening another account some where until it is paid back.
 

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