Failure to repay a loan is not a criminal offense. In fact, its illegal for a lender to threaten a borrower with arrest or jail. Nonetheless, some payday lenders have succeeded in using bad-check laws to file criminal complaints against borrowers, with judges erroneously rubber-stamping the complaints. The Consumer Financial Protection Bureau advises anyone threatened with arrest for nonpayment to contact his or her state attorney generals office.
You should never ignore a court order to appear in court, even if the criminal complaint was filed mistakenly. A chance to negotiate.
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Please, tell me how I can purchase a home. I even have the house I want to buy and have discussed it with the owners. I just need a mortgage. Hi Colin, Do you think there is any possibility of me qualify for a home loan. I would like to purchase a 90,000 condocoop. I work par-time making 16,000yr. I have 25 thousand in savings. I have no debt or credit cards, but my credit score is below 600.
If I were elegible, how long do you think it would take me to move into a new home if I started the process today.