Feb 21, 2008
I recieved a call today 02/19/2008 on our business line from a man that anounced "What Had I Gotten Myself Into" and then proceded to say I owed a payday loan. I do not and never did have a payday loan. He then proceded to tell me I should contact my attorney. He had such a speech impediment that I could barely understand him. I knew right away that this was not a professional calling me. I was so mad that this call came through for other people to hear at my business but, this is their purpose to catch you off guard, confuse you and try to embarass you at work so they can collect money from you. They are also tapeing you and want you to admit to the loan. When they say they are tapeing tell them you do not want to be taped this is you right!!! I called them back and told them not to call my place of employment again and that I was calling the Attorney Generals Office and I most assuriedly did call. Folks please educate yourself online or at a library about the Fair Credit Laws and then use that information to fight back against these animals.... These laws are in place to protect you. If they find out your not running scared they in turn retreat. These cowards feed on the poor who have taken out these high interest "loan shark" loans and they count on the fact that you will not know the laws that protect you from these collection abuses. They assume poor means uneducated... FIGHT BACK they do not have the power to do antthing to you legally without your day in court. They are trying to bully and scare you into paying them... Most of the time these loans were already charged off. Check your credit reports and you can see if it was charged off and also if another company has bought the loan. If it was charged off then the loan was satisfied. Companies like these buy the bad loans after they were charged off for pennies and then unlease their henchmen to go collect what ever they can. Another note here if you renegotiate a loan that is already charged off this loan will reopen and be put back on your credit report for another 7 years. If it was charged off it will come off your report 7 years after the charge off date. Also, you can get a free credit report from all three credit reporting agencies for free. They are TransUnion, Expedia and Equafax. The law allows you one free report a year from all three agencies.. Finally just keep in mind that they can never do anything to you but instill fear. If it would go as far as a scheduled hearing you would be given time to acquire council and then what would most likely happen is a payment plan would be set up.... The original creditor did not want to go to court or the loan would not have been charged off to begin with. If they had chose litigation you would get a written notice from an actual attorney.. Also. one last footnote some of these payday companies are not licensed in some states and therefore cannot collect because they were not legally doing business in that state to begin with... I hope this helps!!!