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Home > Reader Questions > I Am Being Sued for Not Having the Collateral. – Mike

I Am Being Sued for Not Having the Collateral. – Mike

I took a loan for 176 and had too repay 250 I paid about three payments before renewing it. now i haven’t been able too pay the payments for about two months. so they are sueing me for not having the collateral that i put down. i’ve offered too make payments at a lower payment for two weeks in stead of by month and they refuse too take payment. and will sue by the 30th. is there anything I can do legally. too help keep from jail time? or help pay it.


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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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