Thursday, August 30, 2007

Search and Ye Shall Receive: Payday Loan Jail, Property Tax Liens, and Teenage Daughters

Author: Nick
Category: Money
Topics: , , , ,

Search and Ye Shall Receive returns with more answers to questions people have recently asked search engines that brought them to Punny Money.

Jail for Unpaid Payday Loans?

payday lenders leave you out to dry but not in jail

Can I be sent to jail for not having money for payday loan? (via Google)

This person might want to consult with a real lawyer and check his or her state and local laws, but I’ll still share my view on this. I previously stated that you could go to jail for lying on a credit card application (e.g. stating you make $250,000 a year when you really make $6.50 an hour). In theory, the same could be true for payday loan applications. That said, payday lenders typically don’t collect the sort of information you would normally lie about, so the chances of incriminating yourself over a payday loan are very slim. If you’re worried about payday lenders getting you arrested for not paying your loan, you can relax. It’s illegal for payday lenders to threaten you with jail over unpaid loans. Just be sure not to write any bad checks when paying back the loan; they can still land you in legal trouble.

Do Delinquent Property Taxes Mean No Income Tax Refund?

your tax return is likely safer than your property

If you owe back property taxes, will you not get a tax refund? (via Ask)

Your Federal income tax refund is likely safe because property taxes are collected by state governments. Your state income tax refund is also probably safe, but that’s because the state has a much easier way to collect property taxes in arrears: tax lien sales. Normally once a year, counties or states will “sell” the rights to collect unpaid property taxes on a property to whomever wants to buy them. The buyer then jumps to the head of the line on most liens placed on the property (like mortgages and judgments, but not other state tax liens). When you go to sell the property, you’ll have to cough up the money to pay off those liens.

There are also tax deed sales in which your property is sold out from under you to pay off your delinquent taxes. Obviously this is far worse than just having a lien placed on your property.

So the answer to this question is no, your tax refunds will likely not be affected; but you might want to hold on to those refunds to pay for an apartment if your property goes to a tax deed sale.

How to Talk to Your Teenage Daughter?

aaaah, floating lips, nooooooooooo

How do you talk to a teenage daughter? (via Google)

Good question. When I’m talking to your teenage daughter, I usually ask these questions first:

  1. Are your parents home?
  2. You are 18, right?

Oh, you probably wanted advice on talking to your own teenage daughter. Uh, good luck with that.

21 Responses »

1.

Simon Duffy
July 30th, 2008 at 5:14 am

I like the idea of ‘Search and Ye Shall Receive’! Giving the answers to phrases people have searched for to find you site is a great idea. I’m not sure about debt in the USA but here in the UK you’ll end up with nothing if you don’t repay your credit card debts. The credit card and loan companies will get their money back eventually!

2.

Bill
September 13th, 2008 at 1:32 am

Fortunately in Ohio they have all but finally run the Pay Day lenders out of town. There was a big stink about the APR of pay day loans (was 390%). That has been capped now, and if memory serves me right its 28%.

3.

Zac
December 5th, 2008 at 5:26 am

I haven’t yet got a credit card and am reluctant to get one, after working in the financial difficulties department of a major bank i’ve seen the absolute devastation and desperation irresponsible lending can leave families in. As Simon stated credit card companies will always get their money back in the end, and often they don’t care about the trail of hopelessness they leave in their wake.

4.

ACHoffman
April 16th, 2009 at 10:45 am

You gave it out there but still there are many queries that brought some people financial enlightenment to the humble quadrant of the internet.

5.

Cessione del quinto Prestiti
April 18th, 2009 at 2:17 am

our Federal income tax refund is likely safe because property taxes are collected by state governments

“Be aware From Tax “

6.

Carta credito
April 18th, 2009 at 3:07 am

There are also tax deed sales in which your property is sold out from under you to pay off your delinquent taxes. Obviously this is far worse than just having a lien placed on your property.

“If u pay tax at time u will live comfortable life
so plz pay tax at time”

7.

Stop Repossession
April 22nd, 2009 at 2:29 am

What is the difference between property tax and sales tax?

8.

murfresboro real estate
May 5th, 2009 at 1:28 am

Good work! Your post/article is an excellent example of why I keep comming back to read your excellent quality content that is forever updated. Thank you!roulette onlinepoker sitesblackjack onlinevideo poker onlinedivx movie downloads

9.

san diego real estate
May 6th, 2009 at 1:34 am

Hi,
When you request a property inspection, ask for these issues to be especially noted:Noise,Light,Ventilation,Quality of the building, and any areas that could be a weather tight risk etc…
san diego real estate

10.

Dubai property
May 7th, 2009 at 4:16 am

Hotels are amazing investments, they are effectively residential investments so you get all the benefits of high depreciation, good borrowing ability and above all capital growth.

11.

Dubai properties
May 7th, 2009 at 4:18 am

We have vacation property all over the world, but we always end up visiting our beach properties the most…there is just something amazing about watching God’s creation in full glory!

12.

Lake District cottage
June 1st, 2009 at 5:39 am

What maximum loan can be given to employee for training by the employer according to indian law ?

13.

Bournemouth Hotels
June 2nd, 2009 at 3:25 am

Receiving mortgage advice early on is invaluable for any home owner. When problems do occur, mortgage advice and debt counseling can often be combined. Ways of saving money can be discussed, methods to make extra money identified and a complete solution brought into action to Stop Repossession.An extension of the mortgage term does result in more interest being paid, but also brings the monthly repayments down. Being able to stop repossession is all about making life more affordable and spreading the cost over longer helps to achieve this objective.

14.

Property For Rent
June 2nd, 2009 at 5:48 am

The most common way to look for a positively geared property is to find out the average rental price in each suburb. Then calculate what the mortgage repayments will be and associated costs. Then find out what the mortgage must be to make this a positively geared or break even property.

15.

TLC
June 5th, 2009 at 6:25 pm

That was probably one of the most accurate, succinct explanations for tax sales I’ve ever heard. And I’ve been investing in them for a long time.
Well done. Hope you don’t mind if I quote you.

16.

Lake District Accommodation
June 8th, 2009 at 8:01 am

The comments above are so true and i must say i will takeaway quite a lot from it. Thanks again.

17.

Properties to rent London
June 9th, 2009 at 7:34 am

Buying a property is perhaps the single biggest investment made by a person during his lifetime.

18.

Rob - Rakeback Poker
June 13th, 2009 at 1:24 pm

To answer the question in comment #7, sales tax is an extra charge that is added to the purchase of most sales. It is the obligation of the business owner to payt sales tax to the government, which is why the collect it first from buyers at the point of purchase.

Property tax is an annual tax that homeowners must pay on their property based on, amongst other factors, the value of their real estate property.

19.

Sell and rent back
June 15th, 2009 at 8:14 am

Its always a pleasure to read through your site as there is always something new to read about. Thanks for an enjoyable read.

20.

Seb
July 2nd, 2009 at 12:47 pm

Fom what i understand of the law you cannot go to jail for owing money to payday loan lenders, not straight away anyway. Some lenders will simply take the money owed from your bank account without permission, it’s in the contract.

However if there no money to take this will result in a court appearance and could result in a period of time in jail, this again is a variable and down to many different factors aswell as the judge you happen to get.

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