We just did a title loan, and tried to cash the check, was told it was no good. What can we do?

We have an existing loan with Total Max
in Kennett. We borrowed 576 more
today. They printed us a check, and
when we tried to cash it, it was denied.

Asked on November 17, 2018 under Business Law, Arkansas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

A loan is a contract: an agreement to provide a sum of money in exchange for you agreeing to repay it (typically with interest) and/or doing other things (like providing title as security). If you did what you were supposed to, the lender is required to honor its obligations--i.e. to provide the loan. If they did not, you could sue them for the loan, based on "breach of contract," to make them lend to you, as well as for any costs (e.g. bank fees) you may have incurred due to the check being dishonored.


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