Advice & Help

Payback on loan is too big.. I am being taken to court and need help

Written by Jamaica Legal Wiz

QUESTION: Dear Legal Wiz,
I really am being attacked by a loan shark although I migrated to the USA. I took a loan while I was in Jamaica with a new loan company. The company gave me some paperwork to go to court, and when I looked at it, the sum on the paperwork is far from what I agreed to pay, and in fact what I agreed to pay is way to high. I cant just back out but something needs to be done. What should I do to sort this huge sum out?
Troy

RESPONSE: Dear Troy
The best thing to do is to go to court. From research, several companies offer loans but do not have authority to be charging the huge interest sums they are charging. The Judge/Resident Magistrate has the power to reduce the sum based on numerous factors that the loan company perhaps didt take into consideration. Talk it over with an attorney where you can.
Legal Wiz

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DISCLAIMER:
The above does not constitute legal advice. The responses are prepared and published by inhouse senior journalists after research and discussion with attorneys-at-law and other specialists, as necessary.
The Legal Wiz networks professionals from all fields to serve the interest of all Jamaicans and persons relating with Jamaicans.

About the author

Jamaica Legal Wiz

A network of professional experts, mostly Jamaicans, from varied fields including as priority paralegal, investigation, research, real estate, construction, arts and entertainment, certified Attorneys (civil and criminal law), journalism. Information is researched, then published, on this site, in the interest of the wider public. Link me here