Bipolar Disorder Support Group

Bipolar disorder is not just a single disorder, but a category of mood disorders marked by periods of abnormally high energy and euphoria, often accompanied by bouts of clinical depression. This is the place to talk about your experience with bipolar disorder, learn from others' experiences, and find support.

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deleted_user 04/30/2009

ok, i took out a loan in sept, on line, i made one payment, not to long after that i had to stop working do to family problems. i had not been able to pay on it, now i have this bill collector calling me 10 times a day demanding i wire him all of the money i owe or eles he is gonna take me to court, i told him at 1st i could make payments of 200 a month that is not good enough for him, he wants it all, i even told him yesterday that he could just take me to court, he called back this morning i had been talking to a friend about borrowing the money n i told him this i told him i would get back to him by the end of the day. i called him n told him this after noon i was still working on it, i had to leave it on his machine i went out to get my daughter from school n someone eles from his co. called n lef t me a mean message. he is saying this is a hot check n i can go to jail, can they do this or what? do they have to work w/me w/what i can pay? has anyone eles been in this sittution. please help... scared to death i am going to jail..never been there.

angel

Shelly4 04/30/2009

Most state laws are differtent........It depends, how much you borrowed and whether it was federally insured, like a student loan. Did you sign a specific contract, was it through a bank? what check is he talking about? It is a little confusing.

deleted_user 04/30/2009

when i took the loan out they deposit it into my bank acct. yes i signed some loan papers on line but don't remember now what they said excalty it was not a student loan,. i live in texas. i borrowed 500.00's hope this helps answer ur questions where u can continue to help me, ty for ur help in advance.

Shelly4 04/30/2009

Then, I am guessing that they are automatically taking or trying to take the loan payments out of your bank account. If the money isnt there, it is the same as a bounced check and they can charge you accordingly every time they try to take it out.

I dont know about Texas, but in Indiana for that amount of money, it isnt worth them taking you to anything other than small claims court. Here, they would not take you to jail either but might consider fraud charges which could put you in jail, for the lack of funds in your account. I truly dont think I would worry that much but try to work things out with them on a moral standing. They dont have to accept just anything if you signed an agreement for more but I am sure they will take what they can get.

Shelly4 04/30/2009

Angel, the other thing to consider is.......if you have a friend that will loan you the cash to pay it off, ask the guy if he would consider a settlement. Meaning, settle for a lesser amount to get it paid off. Charge card companies do this all the time.

deleted_user 04/30/2009

ty for ur help, i think i am gonna call me a lawayer here tomorrow to c what they say. i want to pay them back but now it is over a 1000.00 w/all the fees they added to it. i am just really freaked out.

Shelly4 04/30/2009

Ouch, I figured they were probably charging you a huge interest rate and lots of late fees, probably the max. That is a huge risk with online loans or private loans. Sorry, I know it is frustrating. A lawyer might be a good idea just to get advice as long as it doesnt cost anything. You might want to call a financial advisor or legal aid. A lawyer will be very expensive and probably not worth the outcome.

Hugs

deleted_user 04/30/2009

Here is a link to the state laws in Texas regarding debt collection:

http://www.occc.state.tx.us/pages/consumer/education/DebtColl.htm

I'll try to get you additional information that you may need.

Good luck.

deleted_user 04/30/2009

ty i will go to the websitete now..ty both for all ur help.

deleted_user 04/30/2009

i cann't get that web site to come up it says it is not found

deleted_user 04/30/2009

ty so much i found that website n it answered alot of my questions, i will sleep better tonite, i will know now what to tell them in the am when they call ty so much for all of ur help. God bless.

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