Legal Question in Credit and Debt Law in California

creditor suing,

in 2005 recieved two pre-approved $6000 checks. yearly income then and now $6000. both loans un-secured. creditor policy for unsecured loans, must be homeowner. Iam not a homeowner

pre-approved checks i deposited did not show amount of payment, but i believed they must pre-screened my employment, or maybe not. i cannot make combined payment of $400. am i a victim of preadatory lending?


Asked on 4/29/07, 4:08 am

1 Answer from Attorneys
Amy Kleinpeter Clark Kleinpeter Law

Re: creditor suing,

The problem here is that you took out debt you theoretically should have realized you could not pay back. You knew the loans were supposed to be for a homeowner and yet you took those loans, so the lender could argue you were being deceptive. Then again, they said you were pre-approved so the lender trying to claim fraud would be a weaker argument then it could be.

You could try filing for Chapter 7 bankruptcy and probably these debts would be dischargeable.

I am wondering if there is something missing from your facts. Are you married or living with family members or roommates?

-- Amy Kleinpeter

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Answered on 4/29/07, 1:57 pm


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