What to do if I am on social security SSDI and I was taken advantage of by a person whom I’m no longer in contact with?

She talked me into taking about 7 different types of payday loans. I have no job and I own my own house but there is no equity in it. Can I be accused of fraud because of this and go to jail if they file a suit against me? What can I do I want to pay them back? I’ve sought out a debt management firm. What are my other options?

Asked on January 13, 2013 under Bankruptcy Law, Wisconsin


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

First many states in this country have outlawed pay day loans due to the interest rates as being in violation of usury laws. From what you have written, I suggest that you consult with a consumer law attorney to see what legal recourse you may have as to the person who got you into these pay day loans and second, are you even obligated on them under laws of your state?

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