Legal Question in Credit and Debt Law in California

Loan

I took a loan of 5,000 in March/2005 that I have been paying back monthly. The 5,000 is paid back but when I called regarding the intrest I still owe they informed me that I still owe 25,000 total. Question: What kind of rights do I have regarding this situation?


Asked on 12/01/06, 1:03 am

1 Answer from Attorneys

Re: Loan

You borrow $5,000 and pay back 5,000 and now they claim to be owed $25,000!?! Did you borrow from a loan shark? Sounds unconscionable to me.

You should definitely consult with an attorney.

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Answered on 12/01/06, 1:19 am


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