Thu, 08/22/2013 21:20
I just got off the phone with my bank. I have gotten myself into payday loan hell. These are all internet payday loans. I closed my account so they would quit draining it. Now I have gone through a divorce and am in no positon to pay back what I owe right now. The guy I spoke with at the bank told me that payday loan companies were able to get some law passed that protects them. They can sue you and you may have to pay up to 25,000.00 in fines and serve 5 years in jail for breaking the contract. Is this true? It does seem to me these loan sharks should have such protection. I'm not trying to get out of paying my loans, I just can't right now. Has anyone heard of this?