Question about Collection agencys

If I answer their calls (they only have my cell phone and work phone numbers) on my cell phone, and engage in conversations with them ( i have 3 PDL's that I just can't pay back, got caught in the cycle, but I expect at some point to pay them back) are they more apt to just keep talking to me, and contacting me on my cell, or will they still call my work. I'm a boss of 60 people, and they answer the phones. It would be very embarrassing to me if my employees found out about my debts. That is the only thing I fear from the CA's, is them contacting people I know and my employees. I don't mind the calls to me and I can handle that part of it. Anyone else with experiences like this?
Also, when I'm finally able to pay them back, is it true I only pay them for the amount I borrowed and nothing more (all the fees)? I have 3 PDL's with internet lenders and I live in Massachusetts... Collect500....loanusa something or other, and I forgot the other. How often do PDL's sue?


Thanks in advance

As long as they can get a hold of you on your cell they have no reason to contact your friends or your work number. If they do send the CA a cease and desist letter.
You only have to pay back the principal if the lenders are not licensed to lend in your state. If you can tell us all the names of your payday lenders and how much you borrowed we can help you more.

Collect500.com........$500

Loanpoint usa........$600

and another that I forgot but it came into my account as "Goverment employee credit" (oddly enough, seeing as it's iilegal to loan to military members) and that was for $400


I don't beleive any of them are liscensed in Mass.

When they call me what should I say for example?

Hi, i really want to pay you back but right now it's not feasible. I would like to set up a payment plan for paying back the principle only?

Something like that? What if they want the fees as well? Do i tell them they are not registered in MA and by law I'm not required to pay any more than the principle?


Thanks for your help

According to Wikipedia, all payday loans are illegal in Mass. Tell them payday loans are illegal in your state and therefore you would like to set up a payment plan to pay back only the principal. Make sure you get any agreement in writing.

And if they tell you they're not required to follow Mass's laws tell them you know that is incorrect.

That's what I thought but thank you for validating. You also answered my next question; How do you go about setting up a payment plan where they honor their end and don't turn around and screw you...Get it in writing