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lost1965 · May 9, 2008, 11:00 PM

In march I got a payday loan. My pay check was late getting to me and so I called them aand told them my paycheck was late as it comes in the mail. The loan wasn't due yet. But I was told it was lready going to collections. When I got the loan they voided the check right in front of my husband and I. On March 26, 2008 a with drawal was done on my checking account for the amount of the loan which was 294.42. It cleared my account over drawing my checking account and cleaning out what I had in savings. Now I am receiving calls from collections 3 times a day on my cell hone and house phone, that 6 calls everyday! And sometimes they call when they have me on the line. They have called from different names and numbers, and sometimes not identifying themselves, and even automated recordings. I have faxed them 3 times the proof of the transaction from my checking account and they say its not good enough. I had a supervisor on the phone and an agent and he had the fax in his hand, he wanted more personal information off my account. Furthermore I was given the name and fax number of someone and they were supposed to take car of it and it never happened. Today I receive a letter in the mail and they still say I owe the debit even after the fax and the proof but now its incruing interest!! What do I do? I can't stop this!! I have done everything they have asked me to do and yet they STILL harrass me! What's left? Please help me, I'm pulling my hair out!:confused:

ChihuahuaMomma · May 10, 2008, 01:16 AM

This is the reason that those payday loan places should be illegal. They are thieves in the first place with all the interest they charge, and then they harrass you. I like the good old personal loans from a bank. They build credit if paid on time.

tickle · May 10, 2008, 12:11 PM

Payday loans charge something like l50%; you never have a chance of paying it off. They are about to be regulated in Ontario, and they don't like it.

progunr · May 10, 2008, 12:22 PM

I'm not sure I understand the exact details of your question.

Are you saying that the electronic debit of your account was in the amount that would cover the loan, and ALL fees associated with it? This would include any late fees, fees for the electronic debit, and interest.

I'm sure that the electronic debit of your account was in the agreement you signed when you agreed to their terms so the chance that they did anything wrong in the electronic debit is slim to none.

About the collection calls. There are limits as to what time, and how many calls a collection agency is allowed to make in the attempt to collect a debt. Six calls a day would violate the laws that govern their actions.

Take a look at this link. It outlines what your legal rights are concerning debt collection.

As a foot note, the state of Arkansas has completely outlawed payday loans and I suspect that many will follow.

Fair Debt Collection

I wish you the best.

lost1965 · May 10, 2008, 03:07 PM

Yes the amount taken from my checking account was the exact amount to the penny! Of the loan I had. They hadn't added anything to it. The letter yesterday says I now owe 300.00. They are adding interest to it now, so what do I do?

Originally Posted by lost1965

In march I got a payday loan. My pay check was late getting to me and so I called them aand told them my paycheck was late as it comes in the mail. The loan wasnt due yet. but I was told it was lready going to collections. When I got the loan they voided the check right in front of my husband and I. On March 26, 2008 a with drawal was done on my checking account for the amount of the loan which was 294.42. it cleared my account over drawing my checking account and cleaning out what I had in savings. Now I am recieving calls from collections 3 times a day on my cell hone and house phone, that 6 calls everyday! and sometimes they call when they have me on the line. They have called from different names and numbers, and sometimes not identifying themselves, and even automated recordings. I have faxed them 3 times the proof of the transaction from my checking account and they say its not good enough. I had a supervisor on the phone and an agent and he had the fax in his hand, he wanted more personal information off my account. futhermore I was given the name and fax number of someone and they were supposed to take car of it and it never happened. Today I recieve a letter in the mail and they still say I owe the debit even after the fax and the proof but now its incruing interest!!! what do I do? I can't stop this!!!!! I have done everything they have asked me to do and yet they STILL harrass me! whats left? please help me, im pulling my hair out!:confused:

slowandeasy · May 10, 2008, 03:28 PM

Hello Lost

What state are you in? Payday loans are nothing more than loan sharks. Our state has made it so hard on them that starting 7/1/08 strict guidelines are going into place which just well may put them out of business.

lost1965 · May 11, 2008, 02:58 AM

Originally Posted by slowandeasy

Hello Lost

What state are you in? Payday loans are nothing more than loan sharks. Our state has made it so hard on them that starting 7/1/08 strict guidelines are going into place which just well may put them out of business.

I'm in California. The collections people are in Texas. I have contacted the state attorney generals office here in California and they won't even help me :(