In language barrier a resource to re-negotiate payday loan debt?

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In language barrier a resource to re-negotiate payday loan debt?

The reason we ask is due to the fact my wife speaks Spanish and poor English. We filed for 2 payday loans without understanding the fees clearly and got 4 deposits instead of 2, it was a storm of e-mails and phone calls that made it impossible to know who you were talking with as far as the lenders.

Asked on September 29, 2011 under Bankruptcy Law, Texas

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

In all sattes in this country the law essentially is that a party who signs a written document is presumed to have read and understood the document signed absent fraud. The fraud typically would be forged signatures and the like.

Nothing prohibits your wife from trying to re-negotiate the pay day debt loans with the company or individual that made them. However, the lender is under no obligation to re-negotiate the loans.

It is very important that in the future that any document signed by you or your wife that it be carefully reviewed and a person understanding the written language that the document is written in is consulted to explain its terms.

Good luck.


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