Legal

Ask a Lawyer and Get Answers to Your Legal Questions

Ask a Lawyer,
Get an Answer ASAP!

Legal

I was sent a loan agreement from Fountain Finance Firm out

Customer Question
of the UK, I live...
I was sent a loan agreement from Fountain Finance Firm out of the UK, I live in California. It says in the document that according to the Lending law Subsection 3, line 12, paragraph 17 that I will be charged $120 loan fee for a $5000 at 3%. Is there a certain law that e xsits, or is this a scam. His name is*****
Submitted: 2 years ago.Category: Legal
Show More
Show Less
Ask Your Own Legal Question
Answered in 9 minutes by:
8/31/2015
Lawyer: Zoey, JD, Attorney replied 2 years ago
Zoey, JD
Zoey, JD, Attorney
Category: Legal
Satisfied Customers: 28,728
Experience: Active member of the NYS bar since 1989
Verified

Hi,

My name is ***** ***** I can assist you with this question.

This is a scam if your loan company expects you to pay the $120 out of pocket. If they will it from the $5,000, then that's a different story. But it is unlawful to charge an up front fee, and asking for money out of pocket is the #1 sign of a loan scam. It is also illegal in the UK to charge an out of pocket up front fee.

Also, Companies House, the official government agency that keeps the annual tax filings and business records for every company in the UK has no record of any business called Fountain Finance Firm doing business in England. Do you have a website for this company, because the fact that there's no official record is another sign of a probable fraud.

Finally, to offer you a loan in California and do so lawfully, your loan company must be registered in your state to comply with Federal regulations. According to the California Secretary of State's register, they are not there, which means they are not doing business in your state.

Don't pay the money. If you do there will be more charges and you won't get a loan. If you have given out sensitive information such as bank and credit card account information or your social security number to qualify for this loan, take precautions against identity theft.

Ask Your Own Legal Question
Ask Zoey, JD Your Own Question
Zoey, JD
Zoey, JD
Zoey, JD, Attorney
Category: Legal
Satisfied Customers: 28,728
28,728 Satisfied Customers
Experience: Active member of the NYS bar since 1989

Zoey, JD is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Not only did he answer my Michigan divorce question but was also able to help me out with it, too. I have since won my legal case on this matter and thank you so much for it.

LeeMichigan

< Previous | Next >

Meet the Experts:

Tina

Tina

Lawyer

8,775 satisfied customers

JD, BBA Over 25 years legal and business experience.

Ely

Ely

Counselor at Law

24,353 satisfied customers

Private practice with focus on family, criminal, PI, consumer protection, and business consultation.

INFOLAWYER

INFOLAWYER

Attorney

20,727 satisfied customers

Licensed attorney helping individuals and businesses

JPEsq

JPEsq

Attorney

2,132 satisfied customers

Experience as general attorney, in house counsel, SSDI, Family Law attorney, and law professor

Law Educator, Esq.

Law Educator, Esq.

Attorney

42,358 satisfied customers

JA Mentor -Attorney Labor/employment, corporate, sports law, admiralty/maritime and civil rights law

Ellen

Ellen

Lawyer, Consultant

8,238 satisfied customers

25 years of experience helping people like you.

Guillermo J. Senmartin, Esq.

Guillermo J. Senmartin, Esq.

Attorney

292 satisfied customers

7+ years of experience handling various legal matters.

< Previous | Next >

Related Legal Questions
If you loaned money to someone and the time lapsed to
if you loaned money to someone and the time lapsed to collect is there a time limit on suit for the stress it is causing you? … read more
Lori
Lori
Juris Doctor
288 satisfied customers
We are applying for a loan on a house for our daughter who
we are applying for a loan on a house for our daughter who is married. She is on the title with us and the loan application. Since they are on again off again, we want to be sure that he has no claim … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
7,385 satisfied customers
I loaned money to a cousin ($4300.00) and we had an
i loaned money to a cousin ($4300.00) and we had an agreement (signed and notarized) for a payment plan we both agreed upon. I did not know at the time he was and is on SSD. … read more
Barrister
Barrister
Attorney/Landlord/Realtor
Doctoral Degree
35,343 satisfied customers
Cosigned on daughter's school loan that has gone into
cosigned on daughter's school loan that has gone into default, want to negotiate a lower amount and pay it off completely using my 401k...been served with a summons from Hancock county courthouse...wa… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
28,157 satisfied customers
I borrowed $4000 from a loan company that's not quite a
I borrowed $4000 from a loan company that's not quite a payday loan lender. I was made to sign an agreement to repay $10,000 for that loan. I have paid close to $6000 now, and they keep harassing me f… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
28,157 satisfied customers
Legal Financial Questions regarding a loan and downpayment:
Legal Financial Questions regarding a loan and downpayment: I am having trouble with a loan company- I was originally approved for a loan at the beginning of October- I told the loan company I would b… read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
Doctoral Degree
42,358 satisfied customers
My federal student loan is in default and they are
My federal student loan is in default and they are threatening to garnish my wages … read more
lucy7368
lucy7368
Juris Doctor
763 satisfied customers
My husband is a buyer on a auto loan the cobuyer has
my husband is a buyer on a auto loan the cobuyer has possession of the car.she has stopped making payments.the repo man has been looking for the car she has hung up on him and will not answer calls to… read more
Marsha411JD
Marsha411JD
Doctoral Degree
20,227 satisfied customers
I'm about to sign a loan agreement with a company I have
I'm about to sign a loan agreement with a company I have never heard of and does not seem to exist anywhere on the internet. The only info I have is as follows: EXTENDED SOURCE***** Dieppe NB, E1A 8L8… read more
Zoey, JD
Zoey, JD
Attorney
28,728 satisfied customers
Real Estate / Home Loan In 2001 I took a Home Loan from HSBC
Real Estate / Home Loan In 2001 I took a Home Loan from HSBC that was done by local person with very little proof of income. In 2004 we filed Chapter 7 & house was NOT included. I have heard NOTHING f… read more
Damien Bosco
Damien Bosco
3,390 satisfied customers
I am applying for loan. Bank approved loan. Now remaining is
I am applying for loan . Bank approved loan . Now remaining is SBA approval. I have question for the lawyer who can a divide in process of filling the forms for that … read more
Lori
Lori
Juris Doctor
288 satisfied customers
Does Arizona have a reinstatement law for Vehicle Loans.
Does Arizona have a reinstatement law for Vehicle Loans … read more
P. Simmons
P. Simmons
Attorney
Doctoral Degree
35,305 satisfied customers
I was approved for a loan from a India company which
I was approved for a loan from a India company which supposedly has a office in New Jersey. Shou … read more
LegalGems
LegalGems
Juris Doctorate
10,717 satisfied customers
I loaned money to a friend. I first loaned him $3000 and he
I loaned money to a friend. I first loaned him $3000 and he paid me $100. He then asked for an additional loan of 2100 so the total loan was $5000. He has breached his agreement to pay me a minimum of… read more
Olivia Kent
Olivia Kent
Managing Partner
Doctoral Degree
1,966 satisfied customers
I have to default on my loans i have 5 position loans.
i have to default on my loans i have 5 position loans … read more
Law Educator, Esq.
Law Educator, Esq.
Attorney
Doctoral Degree
42,358 satisfied customers
The California Secretary of State said that there is a big
The California Secretary of State said that there is a big difference between filing Articles of Organization and forming an LLC in California. Question; Does a LLC have to be completely formed in Cal… read more
socrateaser
socrateaser
1,031 satisfied customers
Loan repayment. Texas. NO it was a personal loan made there
NO it was a personal loan made there is evidence but nothing was signed … read more
RobertJDFL
RobertJDFL
Attorney
Juris Doctorate
5 satisfied customers
If a Massachusetts Corporation files w/ Secretary of State a
If a Massachusetts Corporation files w/ Secretary of State a name change of the corporation, does the newly named corporation ( same Articles of incorporation still in effect - not changed or amended … read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
7,385 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x