Legal Question in Credit and Debt Law in Missouri

I took out a pay day loan over the internet. Can't say exactly what the terms were, as I dont have it available at this time, but they were outrageous. I was paying probably an APR of 300% or more. I paid off the loan twice and then I realized just how much I had been paying. I felt it was too excessive, and discontinued paying for the third time. I know there has to be a law somewhere that says they can't charge that kind of money, taking advantage of a person on hard times. Anyway, I closed the account that they were debiting for their payments. Is it fair for them to say I passed a bad check when they were debiting my account? and the second part of their threat is that I failed to honor a contract. They have some guy calling me saying he's trying to serve me with a subpoena. Is there a way to find out if this case has actually been filed in court or is this all a ploy to collect?


Asked on 3/11/10, 9:26 am

1 Answer from Attorneys
James Manning James Manning, PC

I am sorry to hear about your situation. I'm sorry to say that your experience is not unusual for people who fall into this type of trap. There may be some avenues that can be utilized to help you. Give me a call or email if you would like to discuss.

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Answered on 3/16/10, 7:44 pm


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