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 Posted: Tue Apr 22, 2008 7:26 am Subject: Please help!!!
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I just got a call from a debt collector, and told me if I don't pay be tomorrow 400 dollars, they will take me to civils court, and garnish my wages, can someone please help me
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carmen
Joined: 22 Apr 2008
Posts: 6
Debtcc Points: 60
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Posted: Tue Apr 22, 2008 7:28 am Subject:
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We can help you here. What kind of debt are you talking about, and where do you live?
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
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Posted: Tue Apr 22, 2008 7:35 am Subject:
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Its a pay day loan, I live in VA
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carmen
Joined: 22 Apr 2008
Posts: 6
Debtcc Points: 60
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Posted: Tue Apr 22, 2008 7:36 am Subject:
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who is the lender, how much borrowed and how much already paid. Is it store front or internet?
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
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Posted: Tue Apr 22, 2008 7:37 am Subject:
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Virginia State Information
Legal Status: Legal
Citation:
Va. Code Ann. ยง 6.1-444 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 7 days
Maximum Finance Rate and Fees: 15%
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: None (cannot refinance, renew, or extend)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $25 NSF fee; Court Costs; Reasonable Attorney's Fees (not to exceed $250)
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Virginia Bureau of Financial Institutions
Address: State Corporation Commission, 1300 East Main Street, Suite 800 Post Office Box 640 Richmond VA 23218
Phone: (804) 371-9657
Fax: (804) 371-9416
Regulatory Contact: Susan E. Hancock,, Deputy Commissioner, Consumer Finance
Regulator Website
Licensee Database
Complaint Instructions
Complaint Form Link
Online Resources:
Brochure: Consumer Guide to Payday Lending
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
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Posted: Tue Apr 22, 2008 7:39 am Subject:
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A pay day loan can not garnish your wages. You need a court order to do that.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
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Posted: Tue Apr 22, 2008 7:41 am Subject:
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The lender is upfrontmoney.com, for $200, I had only been paying the interest, this was an internet loan, the collection services are from Sterling
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carmen
Joined: 22 Apr 2008
Posts: 6
Debtcc Points: 60
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Posted: Tue Apr 22, 2008 7:44 am Subject: reply
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how much total was paid back,please try to come up with a total.
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paulmergel
Debt Samaritan
Joined: 24 Jun 2007
Posts: 2747
Debtcc Points: 10095
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Posted: Tue Apr 22, 2008 7:53 am Subject:
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The interest was 89, and I paid that probably 3 times. I can't go back and see because of identity theft, I had to close my account, and I can prove it with my bank
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carmen
Joined: 22 Apr 2008
Posts: 6
Debtcc Points: 60
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Posted: Tue Apr 22, 2008 7:56 am Subject: reply
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89 times 3 is 267.00,if i am not mistaken you have overpaid.
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paulmergel
Debt Samaritan
Joined: 24 Jun 2007
Posts: 2747
Debtcc Points: 10095
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Posted: Tue Apr 22, 2008 7:56 am Subject:
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the are threatning with taking me to civils court, they told me if I don't pay by tomorrow by 2:30 they will open a case against me in my county, where attorney fees, court costs and all that will be added to what I have to pay back
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carmen
Joined: 22 Apr 2008
Posts: 6
Debtcc Points: 60
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Posted: Tue Apr 22, 2008 7:57 am Subject:
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Yes, but is only the interest, none of that is actually applied to the loan balance
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carmen
Joined: 22 Apr 2008
Posts: 6
Debtcc Points: 60
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Posted: Tue Apr 22, 2008 8:18 am Subject: reply
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carmen,it sounds like an illegal pdl.no legit pdl would threaten that.no pdl could get that done that fast,they are just trying to scare you into paying.
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paulmergel
Debt Samaritan
Joined: 24 Jun 2007
Posts: 2747
Debtcc Points: 10095
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Posted: Tue Apr 22, 2008 8:42 am Subject:
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They are just trying to scare you, it sounds like. I have one who is threatening me with reporting me to chexsystems. From what I understand they can't do that because they aren't a bank or a credit union. They will use various scare tactics to try to get you to pay. It sounds to me like you have settled your debt with them. They WILL bleed you dry if given the opportunity.
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freakmeout
Joined: 28 Mar 2008
Posts: 98
Debtcc Points: 1307
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