How do I handle on line payday loan collectors?

Question

A few years ago I got online payday loan. I got into some finacial trouble and the account was closed. The payday company continued to contact me and wanted the amount paid in full, I tried to work out a payment plan and they would hang up on me, then yesterday and man that said he was an officer called and said that they were sending this to the state attorney if I didn't want to settle the account immediately. I aske for them to send me something in writing, saying how much was borrowed, what was paid and how much was owed now. He said "no" we have done this and we will not do it again and then said I should get an attorney, and that they were sending my case to the state attorney's office and he wished me luck and hung up... I wanted him to tell me what was owed and to do some sort of payment plan but they hung up again!!! I don't know where to go from here. He said officers would show up and that I should be arrested!

Answer 1

It's always a good idea to get an attorney ... you need to know your rights when being bullied by big companies.

Answer 2

Loan collectors lie, the only thing that they truthfully have to tell you is that they are trying to collect a debt.  They will try to be your friend, they will harass and threaten you they can be scum.  That is why you must get everything in writing from them.  You cannot be arrested for a debt, fraud and embezzelment yes but not a debt.  Send them a certified letter notifying them they may only contact you by mail.  If they are being unreasonable threaten bankruptcy.  If you want tell them to go to h**l.  They will do what ever they can to get the money but really have no more power than you give them, worst case lawyer up.

Answer 3

Go to the link below forum: They are really helpful people

Answer 4

You need to get the information (real info that is) from the credit bureau. Just write/call them and ask for a letter of debt validation, they'll get the unbiased information and mail it to you. This will have all the credit details like dates, amounts, interest, payments (if any) etc.....

If indeed the debt is yours and you haven't made good on the debt they do have the legal ability to seek judgement against you. You'll receive a court summons to appear in court and that's when the seizures, repos and wage garnishments start.

What you can attempt to do is send a payment. Send a money order to the colelction agency for whatever you can afford. Keep a copy and send it by registered mail. If they accept the payment, then that's a payment agreement cuz they took it. If they're really mad and send it back (not likely) then you're SOL and gonna get sued.

Answer 5

First off...for everyone's sake, these payday loans are a complete scam; you're paying usury interest that will financially break people.  

Know your rights.  When they call you, get names (person and the company they work for), phone numbers, date/time of call (every time they call).  Write down what they say.  If you have to, record the call (I highly recommend this).  They have the right to contact you and ask that you pay your debt.  They do NOT have the right to lie, threaten, or harass you.    

What you got was the hard sell; these debt collectors get a commission on what they collect, so it's in his interest to get you to pay, because then...he gets paid.  Collection agencies buy the debts for pennies on the dollar and then try to collect.

In this case, they have a file that may have changed hands several times; they're in a business model where they don't want to waste postage.  If they're not going to send you a bill (probably because they have no idea who the original debt was from) then this, as they say, is telling.  You're quite possibly dealing with a boiler-room operation.  Reputable debt collectors won't do this kind of stuff.  

If they take you to court it will be their firm's attorneys filing suit; no State's Attorney is going to file charges against you for a payday loan.  They are not going to contact the police to have you arrested; they're threatening you in hopes that you will pay them.  You have to pay your debt, but they don't have the right to threaten you, which is what they're doing.

By that, turn a bad decision (getting a payday loan) into a worse decision (doing something equally dumb) to pay them.

YOU, on the other hand, should document everything, and contact your state's department of consumer affairs, and possibly the state attorney's office to verify what rights you have and don't have.  Explain that you are making a good-faith effort to pay the debt, and that they are making threats.  Have all of your documents for the payday loan; terms, interest rates, amount borrowed, etc.

You have rights.  Use them.

Answer 6

First off, there are no "debtors prisons", no one is going to come arrest you over a payday loan.  Next, you're dealing with a lying scumbag who is trying to threaten and intimidate you into paying.  You said he said he was an officer? Do you mean police officer? Because if that's the case then HE is the one who can be arrested for impersonating one. Best advice I can give, although others have given good advice too, is not to panic and wait to see what happens.  They are the ones who have to go by the law and must send you WRITTEN intent to collect the debt. Not some Barney Fife hack calling you with empty threats.