1. Free Legal Help, Legal Forms and Lawyers. TheLaw.com has been providing free legal assistance online since 1995. Our most popular destinations for legal help are below. It only takes a minute to join our legal community!

    Dismiss Notice

Fraudulent payday loan Consumer Fraud

Discussion in 'Consumer Fraud & Scams' started by NTLeonard, Mar 5, 2016.

  1. NTLeonard

    NTLeonard Law Topic Starter New Member

    Messages:
    3
    Likes Received:
    0
    Trophy Points:
    1
    Jurisdiction:
    Nevada
    Last year I used a fake pay-stub to obtain a payday loan. I am now a contributing member of society again and in a financial position that may allow me to repay the loan which was in the amount of approximately $200. I am hesitant to call the loan company due to the legal implications of my stupid mistake and the possibility of being charged criminally. I would like to establish my credit, and am looking to purchase a vehicle and hope to get a loan, but I'm sure that this type of fraudulent activity will prevent me from doing so. I would like to know what consequences I may be facing and if it is at all possible for me to right this wrong without facing criminal charges. Can I just call the company and ask them if I can make it right? Any advice would be greatly appreciated.
    Thank you.
     
  2. C-Note

    C-Note Member

    Messages:
    39
    Likes Received:
    3
    Trophy Points:
    8
    I believe the company who gave you the payday loan is much more interested in recovering what you owe + interest, rather than attempting to get you charged for criminal and fraudulent activity leading up to and securing your payday loan! Contact them and tell them you'd like to pay off your debt and that should be that!
     
    NTLeonard likes this.
  3. adjusterjack

    adjusterjack Super Moderator

    Messages:
    9,169
    Likes Received:
    2,950
    Trophy Points:
    113

    Well, you'd better check your credit reports because you've already established credit. Bad credit if the default is on your credit reports.

    It may already be in collections so check your credit reports first. It's free once a year at:

    www.annualcreditreport.com

    If the entry is still the payday loan company just call and say you want to pay off the debt.

    I imagine it's probably a lot more than $200 after a year's worth of interest and lat charges so be prepared for that.

    Make sure you get a receipt saying debt paid in full.
     
    NTLeonard likes this.
  4. d1amund

    d1amund Member

    Messages:
    114
    Likes Received:
    16
    Trophy Points:
    18
    Good advice above.

    Congratulations on seeing the error of your ways and trying to make things right with them and your life in general. Keep on the straight track
     
    NTLeonard likes this.
  5. NTLeonard

    NTLeonard Law Topic Starter New Member

    Messages:
    3
    Likes Received:
    0
    Trophy Points:
    1
    This is very helpful, thank you very much. I will check my credit report. I am fairly certain that it has been reported, as I recently tried to open an account at us bank, and was denied due to something on my credit. At that time, I assumed it must have been my delinquent accounts at wells fargo, however, today I successfully reopened those delinquent accounts by paying some of my fees and setting up a payment plan for the rest... (yay me! movin up in my financial world)... so, now, if the delinquent loan is reported to an agency, what are the odds that they are going to try to charge me with the fraudulent paystub i used to get the loan? If i contact the collecting agency and make right with them, should I be ok EVEN THOUGH i blatantly broke the law with a fake document?
     
  6. NTLeonard

    NTLeonard Law Topic Starter New Member

    Messages:
    3
    Likes Received:
    0
    Trophy Points:
    1
    thank you, I appreciate your time and opinion of this matter!!! Thats what I was thinking as well, but I will follow the suggestion to see if it has been reported to a collection agency before I directly contact the lender. Thank you again so much
     
  7. adjusterjack

    adjusterjack Super Moderator

    Messages:
    9,169
    Likes Received:
    2,950
    Trophy Points:
    113

    I doubt if any thing criminal will come of it. The creditor probably doesn't know it was fake and won't unless you tell them.

    And prosecuting doesn't get them any money so paying the debt should get it done.
     
  8. Betty3

    Betty3 Super Moderator

    Messages:
    6,967
    Likes Received:
    290
    Trophy Points:
    83

    Expect though to most likely have to pay much more than the $200.00. Payday loans generally have high interest rates & high late fees. Good luck to you.
     

Share This Page