Legal Question in Credit and Debt Law in Florida

pay day loan

My pay day loan for $551.00 was returned to the lender as I did not have enought funds to cover it in my bank account. It has been 2 weeks since it was returned. I want to pay back but need arrangements for maybe 2 months to pay back.Lender refuses saying if I dont pay today in full they will file further action and I need to talk to Attorney to see what they will do, they would not tell me. What can they do to me? Do I have any rights here? Please help I am sick over this.


Asked on 9/06/07, 11:14 pm

1 Answer from Attorneys

Scott R. Jay Law Offices of Scott R. Jay

Re: pay day loan

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

You will probably need to either pay it in full as they said, or meet with an attorney who can review your paperwork and advise you of your rights and obligations. There is no Florida law that directly governs the terms of a payday loan although it has been discussed and gotten the attention of Florida legislators in the past year or two.

Scott R. Jay, Esq.

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Answered on 9/07/07, 12:26 am


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