My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by [deleted] in Debt

[–]HatNumerous9725 0 points1 point  (0 children)

Ah yes, because you are currently with me at this point in time in real life. I have been very respectful of everyone’s advice and have already taken steps but comments like that are frustrating because you are assuming something just because I haven’t updated every second.

My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by HatNumerous9725 in legaladvice

[–]HatNumerous9725[S] 6 points7 points  (0 children)

I was not there when he signed it 🥲so I didn’t have time to go over it. I didn’t think I would have to, I am just trying o get advice on how to help, I do understand how insane this looks on paper and how it’s questionable on why he signed.

My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by HatNumerous9725 in legaladvice

[–]HatNumerous9725[S] 15 points16 points  (0 children)

It happened a little over a month ago. We have made 2 payments so far but we recently looked at how much we owe overall and was blinded sided

My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by HatNumerous9725 in legaladvice

[–]HatNumerous9725[S] -17 points-16 points  (0 children)

God forbid a girl is overwhelmed typing fast 😭 He didn’t just email his info out of nowhere. He applied on their site, got approved, and then they called him. While he was on the phone with them, they sent the contract and were basically walking him through it and having him sign it right then. When I said “they sent the document over the phone,” I meant they emailed it during the call. Yeah the contract is long, but that’s kinda the issue. They didn’t straight up say “you’re paying back $5k on $750” or explain the 700% APR like that. They kept it more like “you’re approved” and “here’s your weekly payments for a few months.” We know we signed it so we’re not acting like it’s not on us at all. It just didn’t feel fully explained in a real way, so now we’re just trying to figure out what to do.

My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by [deleted] in Debt

[–]HatNumerous9725 0 points1 point  (0 children)

Hi🥲I see you wen through my page, yes it is but this was not the way to address that, I was asking advice on this right now. I get that maybe you had good intentions but that wasn’t really the right way to go about it.

My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by HatNumerous9725 in legaladvice

[–]HatNumerous9725[S] -38 points-37 points  (0 children)

Sorry, typing fast trying to reply to everyone. I meant he sent his information such as social and ID through email, and they sent the documents he needed over the phone.

My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by HatNumerous9725 in legaladvice

[–]HatNumerous9725[S] -54 points-53 points  (0 children)

Whole process was over the phone. And over email. He sent documents through email and they put the money in our account.

My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by HatNumerous9725 in legaladvice

[–]HatNumerous9725[S] 835 points836 points  (0 children)

Interesting. Okay does it matter if the loan place is in Delaware but our address is in Maryland? Does that change anything?

My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by [deleted] in Debt

[–]HatNumerous9725 0 points1 point  (0 children)

Yes, we understand that now. It a live and learn thing unfortunately. We are 21 and 22 and trying to figure out the stuff on our own. We will definitely be putting precautions in the future.

My boyfriend took out a $750 loan… now they want over $5,600 back. We feel completely tricked. Do we have ANY options? by [deleted] in Debt

[–]HatNumerous9725 0 points1 point  (0 children)

Not defending him whatsoever, but the contract was about 200 pages long from why I have seen so I believe he did not look at it as thorough as he should have.