Legal Question in Credit and Debt Law in Iowa
payday loans
What are the legal issues of Iowa law for defaulting on payday loan for $450. I want to make payments and they said they don't do that. I had to close my account before the check was paid.
Asked on 10/03/08, 6:29 pm
1 Answer from Attorneys
Thomas Moens
Moens Law Offices, Chartered
Re: payday loans
The terms of your written agreement with the loan company would control. If there is not provision for making payments, they are not obligated to do so, and they can engage in any lawful collection actions.
Answered on 10/07/08, 4:57 pm
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