[blackbelt]

I owe 750.00 in a payday loan there are two others as well .My bank account was closed due to overdraft fees this was 16 months ago. Yesterday at work I got a call that if I did not pay by 2:00pm they were going to pick me up, I work as a nurse at a hospital then my co -worker got a call could he id me and what were directions to the hospital. The person refused to give his name or company. I want to pay this my house note is behind and I am working on that. Sorry for long question but please some advice please

[mjl]

My only advice to you is to get some financial help. You obviously need the knowledge of how have good financial well being.

Pay-day loans are not something to be dependent on. They are just not a good thing.
Is there a minimum payment you could at least do until you get the rest?

[oneguyinohio]

All I can suggest is for you to try to make payments to them. That might not get you very far. Sounds like they are trying to scare you into paying for the bad checks you wrote. If it were the police, I think they would have identified themselves and also would have known where to find the hospital.

Your past bad check writing is catching up to you, and you need to do something or you seriously might find yourself in jail.

If you have any assets at all, sell them. You might consider filing bankruptcy as well if you can't make ends meet. If you have a tax return coming, perhaps you can offer that as some type of payment?

[Fr_Chuck]

First, they are breaking the law, they are lying to you, but again with these type of loan places this is common, they will charge around 600 percent interest and large late fees.

They can not pick you up. How is the loan secured, did you write them checks that they are suppose to cash, is so, they can take these checks to the DA and press charges, then they police could pick you up, but they will not call and tell you.

Is this is just a loan you signed, no checks given to them, they can just sue you in court, and garnish your pay check.

So don't borry like that again, and see if you can pay them off by paying 1/4 of your pay check each week, if not let them sue you,

[valgal1967]

Not sure if your question ever got answered. I too was/am in this same situation. I researched the fair debt collections act, you should as well. First, it is against the law for any collections company even a pay day loan company to threaten you with any type of action, especially over the phone at your place of employment. This is a direct violation of your rights as a consumer. These people you have to report to the correct agencies listed under the fair debt collections act. In most states when one defaults on a payday loan, the pay day loan company MUST offer the customer a repayment plan. You need to read your loan papers and check with your state laws. Also each state has a financial division that regulates payday loan companys for compliance. It sounds to me that the payday loan company uses an outside source for collections or sells to a collection agency. Either case, they are not allowed to harrass you or threaten you. What you described was just an intimidation to scare you.

Do you research on collection agencies, you will find that you have rights and you can demand they stop contacting you. If they do not you file a complaint against them. Also, they are not to discuss your debt with anyone. This still does not give you the right to not pay your debt, but at least knowing your rights as a consumer may help you deal with these unethical people and pay your debt based upon you own financial abilities. Also, they cannot threaten you with civil action or criminal action, and trying to garnish your wages is difficult too, especially if you show up to court with proof that you tried to pay them in payments based upon your financial ability. In most cases, these debts become uncollectable after so many years. Most collection activity takes place in the first few months as those are the most critical.

Hope this helps.

[karen1954]

Thank you so much these people said that the police will pick me up and take me to jail about this.

[luismarinaperu]

I owe 550.00 in paydayloans to two different companies.I know,already spoke to them and they've said the only choice's to pay them.But I can no longer afford to do so (185.00 every two weeks).So what's going to happen if I change my account number information?