Unsecured Bank Loan

1 Answers. Asked on Mar 04th, 2017 on Debtor and Creditor - Michigan
More details to this question:
I took out an unsecured loan from a local credit union. I have used and paid off the loan several times over the past 4 years. Last year I was scammed out of $8000 dollars on a car I went to purchase. I used the unsecured loan to pay for the car electronically but the car never showed up. The credit union refused to work with me and said I was responsible for the full amount. Should I pay?
Answers Showing 1 out of 1
Answered on Mar 05th, 2017 at 7:38 AM

Was the Credit Union "scammed?" If only you werre scammed, and, at your request (having been scammed), the Credit Union put out money on your behalf, yes, you owe it. What is it you think they have done wrong? Is there more here? If so, let us know.

David J. Hutchinson 106 N. 4th Ave Ann Arbor, MI 734-930-9000 dave@davehutchinsonlaw.com

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Debtor and Creditor
Just because you owe money to another person, a bank, credit card company, landlord or another party doesn't mean you've signed away your legal rights. Federal and state debtor-creditor laws explain both the legal rights and obligations of debtors (people who owe money) and creditors (those who are owed money). If you're being hounded by collection agencies and debt collectors, talk to a debtor and creditor attorney who can help you enforce your legal rights while also working to explore debt relief options. Your lawyer can discuss the pros and cons of debt settlement, garnishment, personal bankruptcy and other possible solutions.
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