How to settle debt with American Web Loan?
Make us pay 5,000 back for a 1,500 loan . We payed 546$ already and AWL said only 85$ went tho the actual loan. What should we do ?
4 attorney answers
I agree this is a predatory lab and you should seriously consider filing bankruptcy. In the short term, take all the money out of the bank account and deposit it in a new account at a new bank. Have any direct deposits go into the new account. Ask the Bankruptcy attorney if this sort of loan is legal in your state. If it is not, contact the consumer protection division of the state attorney General.
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These type of loans are considered predatory in nature and will have you caught in an endless cycle of repayment. I suggest you reach out to an experienced, local bankruptcy lawyer who can give you good advice on how to make the payments stop, and how you can perhaps eliminate this debt altogether.
Debt settlement is a SCAM and bankruptcy is a real solution. To properly answer your questions and address your concerns, the best way to handle this is with an in person consultation with an experienced MD bankruptcy attorney. Use AVVO's Find a Lawyer tool to select a qualified attorney. Good luck. THIS IS NOT LEGAL ADVICE! YOU NEED TO SPEAK TO AN ATTORNEY WHO IS LICENSED IN YOUR STATE FOR LEGAL ADVICE. This is merely suggestions for you to think about in discussing your situation with the local attorney.
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I switched the practice area to Debt Settlement so you can obtain the best response possible.
this is general information and not providing specific legal advise nor is it creating an attorney/client privilege nor an attorney/client relationship.