How long has to pass before it's considered a threat with no intent?

[oceanlover]

We got a letter back in Feb. this year saying if we didn't pay they were going to go to court and get a judgement and garnish our wages.

They have never done this.

I am thinking b/c it's for a payday loan and the prosecutor in the county won't prosecute them.

However, I have read that they can't threaten to sue or anything if they have no intent.

How long has to pass before it is considered an intent-less threat?

[fused]

How old is this debt and what state do you live in?

[oceanlover]

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fused111 wrote:

How old is this debt and what state do you live in?

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Almost 2 yrs old and Missouri.

Our prosecutor sends payday loans back to the lender when turned in as bad checks. They can file small claims against us and get garnishment that way.

Just wondering how long they have to file suit after threatening too?

[Tuscani]

MO SOL is:

STATUTE OF LIMITATIONS

Sale of Goods: 4 Years (see footnote)

5 Years Open Acct.: Oral Contracts; §516.120

§516.120. Within five years:

(1) All actions upon contracts, obligations or liabilities, express or implied, except those mentioned in section 516.110, and except upon judgments or decrees of a court of record, and except where a different time is herein limited;

Written Contracts; §516.110

516.110. Within ten years:

(1) An action upon any writing, whether sealed or unsealed, for the payment of money or property;

Period of limitation prescribed.

516.100. Civil actions, other than those for the recovery of real property, can only be commenced within the periods prescribed in the following sections, after the causes of action shall have accrued;

[Anonymous]

So from those statutes would that be 5 or 10 years sol for payday loans? Im in missouri with payday loans as well

[oceanlover]

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Tuscani wrote:

MO SOL is:

STATUTE OF LIMITATIONS

Sale of Goods: 4 Years (see footnote)

5 Years Open Acct.: Oral Contracts; §516.120

§516.120. Within five years:

(1) All actions upon contracts, obligations or liabilities, express or implied, except those mentioned in section 516.110, and except upon judgments or decrees of a court of record, and except where a different time is herein limited;

Written Contracts; §516.110

516.110. Within ten years:

(1) An action upon any writing, whether sealed or unsealed, for the payment of money or property;

Period of limitation prescribed.

516.100. Civil actions, other than those for the recovery of real property, can only be commenced within the periods prescribed in the following sections, after the causes of action shall have accrued;

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So, are you saying that as long as they sue within the SOL time period then it isn't considered an empty threat, no matter how long ago they threatened it?

A payday loan would be a written contract correct? Since you do sign papers and the check saying you'll pay.

[Anonymous]

wow 10 years for SOL thats a long time maybe thats why there are so many payday loan companies here in MO

[oceanlover]

The attorney general is really trying to crack down on payday loan places. He had been trying before and legislation was prevented by Republican leadership. In the next legislation there is going to be a bill making changes. Some of the changes are to cap interest rate at 36% and require that they can not "renew" the loans. There was just a recent article in the Springfield News-Leader about it. Was in Thursday's paper. Title was "Payday Loans may face tougher scrutiny", written by Cheryl Wittenauer of the Associated Press. Might be able to find it online to read the whole article.

[Tuscani]

Good read: http://www.fdic.gov/regulations/safety/payday/index.html