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After reading the comments on the discussion page:
It is VERY unfortunate you did not have them sign an agreement for the repayment! Even if you prove your case in court, if the other party has no assets against which to file a lien, you seem to be pretty much out of luck. It is EXTREMELY doubtful that the lender will let you off the hook. At this point your only option is to consult with legal counsel to determine your options under the laws of whatever state you are in.
What else can I help you with?
Does defaulting on a payday loan constitute check fraud?
Defaulting on a payday loan does not, in and of itself, constitute check fraud.
If you default on a payday loan in Texas can you go to Jail?
You can't go to jail anywhere simply for defaulting on a payday loan, anymore than you can for defaulting on a mortgage, car loan or credit card. There has to be something more, like using someone else's identity to obtain the loan, for a criminal offense to have occurred.
If someone cosigns your auto loan are they responsible for your other debts or only the auto loan?
Just for the auto.
What term is used for not paying on a loan?
Defaulting.
Would not result from defaulting on a loan?
Imprisonment
If you cosign an auto loan and the dealer changes the contract and put you on the loan by yourself what can you do?
If you signed the loan documents without reading them and later learned that you were on the loan alone, there is very little you can do. Your should have read before signing. If the loan was changed after you signed the documents, someone must have forged your signature on the altered documents. Then the loan is fraudulent. You may have to involve the police and go to court, however.
What kind of loan is an auto loan?
An auto loan is a secured loan. A lien on the car helps the lessen the risk for the lender.
What is it called when you don't pay back a loan?
Failing to pay back a loan is called defaulting on the loan.
In the state of Georgia can you go to jail for defaulting on a car loan?
No.
Can you pay more if youre able to decrease your auto loan rates?
Yes, an auto loan is no different than any other loan.The more you are willing to pay, the less time it will take to paid it off.The shorter the loan time, the less of a risk you are in defaulting on the loan.Less risk is compensated by lower rates in general.
Can you assume an auto loan from someone else?
Yes, it is possible to assume an auto loan from someone else, but it typically requires the lender's approval and a formal transfer process.
What does it mean to have a guarantor on an auto loan?
A cosigner- someone who agreesto pay the loan if you default
