what can be done by these small finance companys if you cant afford to make a note when its do?
Question by mary r: what can be done by these small finance companys if you cant afford to make a note when its do?
Best answer:
Answer by michinoku2001
If you wrote a post-dated check and then don’t make good on it, you could be charged with fraud.
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you mean collection agencies? it is best to work out a payment plan most of them will work with you and you can work it out to pay a bigger sum at a later time if you can’t pay at all. after all they don’t care when they get their money as long as they do.
When you signed the agreement you put items down as collateral. This means that if you don’t pay your loan on time you gave them permission to take the items listed. I used to work for one and saw it happen.
If you wrote a post dated cheque they can take you to court and charge you with forgery. I also saw that happen.
Suggest you get on the telephone and try to work out a reasonable payment plan. Saw that happen too.
they will take you to the court, you will lose, and the judgment will sit on your credit report for 7years( paid or not)
You knew the payment amount prior to signing the contract, why can’t you pay?
they dont advertise this put ask for a deferment and they can
“push it back” to the back end of the loan
there is a small fee for this but they lose NOTHING by doing this
they wont tell this option because it would get ABUSED..
TRUSTme there are 101 ways to get creative and they know that
there is a lot of competition for business (especially in factoring)
who is this 3rd party ?