Can you be prosecuted for check fraud for payday loans in Louisiana?
I took out a payday loan via the internet last year and received a call from an attorney stating that I will be prosecuted for check fraud if I don’t come up with 0 by tommorrow. I live in Louisiana.
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They are using scare tactics to make you pay up. Collection agencies are known to use this and other scare tactics.
You should’ve paid this loan in the first place.
It’s probably not check fraud (unless you lied on purpose on your application). They’ll just send it to collections most probably.
if you didn’t pay it and the check is over 500 dollars, you can be prosecuted for writing a bad check over 500 dollars. The company can also sue you causing a judgement in their favor for the amount of the payday loan and that will sit on your credit report for 7-10 years.
It’s in your best interest to pay the $850 or come up with a plan of action with the attorney to pay it back because you can be in serious trouble. A check that is written and doesn’t clear is a bad check…it can cause a serious amount of trouble.
Payday loans oare scams, and they arent well regulated….the only thing the government doesnt want to get involved with. They charge high intrest rates and what not. I would consult an attorney of your own. Also, if you ever decide to do the payday loan….on the check…put the date of the day you get paid…not the day you wrote the check….there fore they cannot cash it ahead of time