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 Posted: Thu Aug 23, 2007 3:47 pm Subject: Help with payday loan companies harrasing me!
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I took out a payday loan for $600 store front... then I paid $122 weekly for about 2 weeks, then i just couldnt do it anymore!
I stopped paying, then the payday loan company started calling my job, my references. I had given one of my sisters as a reference, and to my surprise my sister had gone in the store and they showed her my application. She says she did this because the company kept on calling her all day numerous time telling her I owed money and needed to go in and pay. They only called me twice and all the other times called my references or my job. I need help! I really dont know what to do. I have problems at home because of this! i know its my fault, but should my information (referring to my application) be confidential and not given to anyone! OR can they show my application to my references to collect payment!
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g_lupe06
Joined: 24 Apr 2007
Posts: 1
Debtcc Points: 60
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Posted: Thu Aug 23, 2007 4:04 pm Subject:
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Storefront lenders are not bound by any federal laws. Hence, if you have an outstanding balance with them, they will do anything to get the money back from you. Now, you need to find out if this lender is a legit business in your state. If they are doing an illegal business, you have a strong case. But if they are a legit company, there is probably less ammunition for you. The only way you can stop them is to work out some arrangements and pay off the loan.
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fatb88
Joined: 20 Dec 2006
Posts: 221
Debtcc Points: 1571
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Posted: Thu Aug 23, 2007 4:24 pm Subject:
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Wow glupe. I'm sorry all of this is happening to you. You really should probably contact the company and see if they will work with you. I know that some storefronts are pretty good about making arrangements.
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eleroo
Joined: 06 Jun 2007
Posts: 1227
Debtcc Points: 14309
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Posted: Thu Aug 23, 2007 7:58 pm Subject: reply
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g, you need to contact the store front. I understand you not being able to make those payments any longer; however, most store fronts are legal and abiding by the state law. In your case, you basically "disappeared" and they didn't get their money. That's probably why they're calling your reference. If you call them and explain your situation to them and offer a repayment plan, they may work with you. But to not have any communication from you, they freak out. I don't agree with them showing your loan agreements to a third party. I don't think they should do that, as it has confidential information on it. However, I don't know anything about laws regarding that. But, please try to contact the store front. Even if you just write them a letter telling them you are aware you owe the debt; however, you need to set up a payment plan with them. Since they haven't heard from you, they're going to use different avenues to try and "find" you or get you to respond.
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
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Posted: Thu Aug 23, 2007 8:57 pm Subject:
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Like Cannr stated you need to contact them. If you are not comfortable talking to them on the phone send them a certified/registered return receipt letter stating that you are aware that you owe them $ and that you are willing to pay xx amount of dollars on your paydays until the balance is paid off.
You really need to take care of this because if they are legal they will and can take you to court. It is better to contact them to make payment arrangements before they try to take you to court. So please do this it will make you rest easier.
ladybug
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ladybug
Joined: 29 May 2007
Posts: 2747
Debtcc Points: 24743
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