Just Tryin’ 2 B Me! asked:


I have 2 signature loans and 2 payday loans. (I know stupid mistake!) Well now the first payment is due on the 2nd signature loan. The first signature loan i have been paying on time since January! My dilemma is this, i am flat broke and just got paid. Both signature loan payments are due this week! What is the law regarding defaulting on these loans? I over extended myself and no one is to blame but myself! I have no one to borrow the money from!

MARCUS

3 Responses to “What is the law regarding Signature loans?”

1. DALLAS on February 28th, 2010 7:44 am

   JACQUES

   From a lawyer. On very short term loans like payday loans the lender will file a criminal complaint of fraud and they will arrest you. They are bad news with a capital B.

2. COURTNEY on March 2nd, 2010 5:20 pm

   NICK

   Well just pay a small amount on each loan due now and work on getting them paid off asap. As long as they get some money they won’t press charges.

3. KARL on March 3rd, 2010 11:45 am

   KENNITH

   so i think what larry is trying to say is pay the payday ones first. Go to the bank, explain your situation they may do something to help you. If you’ve had a good rep at the bank they will try their best to work things out with you!

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