Cash advance?
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cash advance places are a rip-off. they really do charge that much interest. my brother borrowed $400 from one place to repair his car. and he had to pay back $587.45. they get away with it by saying that it's processing fees, insurance fees and by charging about 27% interest. they won't put him in jail though. they may take him to court, but all the judge will do is order him to pay and they may garnish his pay cheque.
No, they cannot do that.
The worse they can do is put the check he wrote them through, and he will owe his bank $. heck your state laws. Why the discrepancie in the amounts?? Sounds like your friend want a loan from you!
I do not think he can go to jail. I know with the cash advance places they normal deduct the money right from your checking(unless the account is closed) then they will come to your home and try and collect the money, if that doesnt work they will take you to court.
why is this in the pregnancy/newborn section? And no they can not take him to jail...
no
they will just charge him interest until he pays it all
no, they can only come after you by suing you, if your working they can garnish your wadges ,if your on welfare or disablity pensions they cant touch you ,but they will try to threaten you but all they can do is sue you .i suggest to tell your friend to change his bank account until this is settled though ,if he dont want money going missing from his account unexpectily. it could take up to 3 months to garnish your wage if you are working.
No, they are just threatening you, but stay away from those places the amount of interest they charge you is ridiculous isn't it?
When you take out a cash advance loan you have to write them a personal check that they hold until you pay them back. If you don't pay them back on time they cash that check. If it's a bad check and your friend doesn't pay up, it's check fraud. And yes you can go to jail with that. My niece's husband just went through this exact same scenario and almost went to jail, luckily his parents paid it. If your friend is telling you this to borrow money, if you have it to lend then just be sure to go with him to pay it rather than just giving him the money.
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