questions & answers

Question: I was e mail about loan for $8000.00 and all I had to do was send three months payments in advance which I did the day when there wrer to mak a deposit to my account I got call from the tell me that I had to purchase a inserunce for the loan and all I had to do was ppay $750.00 1/2 of the cost so I had it canceled the loan and ask for my money back they told me it would take 14 to30 days befor I could get it io told I needed it back that day they said they would,this has put me in avery bad money problem because of being on ssi diabilty my bill are going to suffer and Imy credit is going to take a big hit I have to pay for a truck payment and rent and insurance I have no othere way to gover them I neeed to get them to return that money by the end of this week, I need help. I was olso scam by company out of Washington involving free gov. grant money that also menschen that they were working with the f.b.i.i lost $150.00in that.

Answer: This is a question of contract law (re the original loan agreement); the words in the contract or other information provided by the lender when a loan agreement is made (online or in person). If the contract specifies time limits for pre-payment-refunds, this is binding on the lender. In case of a breach/violation by the lender the Arizona Attorney General has the authority to bring actions alleging violations of the state and federal consumer protection laws, for example, if a refund is wrongfully denied or withheld for a commercially unreasonable length of time, which may or may not be the same day as when the borrower cancelled the agreement. The Arizona Attorney General website addresses various consumer-related issues and has links for obtaining assistance for misconduct by a business, including Predatory Lending. The Arizona Attorney General website also has links to valuable federal resources (internet transactions are often governed by federal law.) This website has a wealth of information regarding consumer loans, contracts; see "Unfair Sales Practices and Consumer Fraud"  To find out how the law applies to your specific situation, you may want to consult with an attorney directly.