Can a payday loan company threaten you with criminal charges?
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Can a payday loan company threaten you with criminal charges?
Asked on March 19, 2012 under Bankruptcy Law, Wisconsin
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
For there to be criminal liabilty, there must be two things: first, a criminal act (or at least potentially criminal act), like keeping another's money or property when you don't have the right to do so; and second, criminal intent or mens rea. So if there is reason for the loan company to believe that you never intended to repay the money, or at least knew that you most likely could not repay it, they may be able to press charges--taking a out a loan you won't (or know you can't) repay is a criminal act. On the other hand, if you took out the loan in good faith, intending to pay, but then fell on hard times and could not, that would not support criminal liability.
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