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 Posted: Mon May 12, 2008 8:31 am Subject: Can I be arrested or sued for failure to pay PDL?
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Will payday loans sue me or have me arrested for stopping payment on a PDL? I have 2 PDLs that I have paid on for 4 weeks. Of course this just pays the rollover fees not the principle. I live in NJ and found that PDL's are illegal and all other loans have a 30%cap. I can't sleep or eat afraid I will be arrested or something. What should I do? I faxed them letters and sent them emails stating the money I paid should apply to the principle and then they would be paid in full except for the 30% interest allowed by NJ law.
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cincavccc
Joined: 07 Jun 2007
Posts: 7
Debtcc Points: 201
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 3806
Debtcc Points: 24940
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Posted: Mon May 12, 2008 8:39 am Subject:
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They will threaten you with arrest but the truth is they can't even legally collect on a loan that was made illegally!
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Hyla Cineria
Guest
Debtcc Points: 100
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Posted: Mon May 12, 2008 4:38 pm Subject:
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They are the ones who broke the law for issuing a pdl in your state. The internet PDL you got is illegal and besides the are mostly overseas and can`t do anything to you anyways. This is America , we DO NOT have debtors prisons here. Beside who are they going to get to have you arrested ? INTERPOL ? lol , please don`t let the bone heads bother you . You don`t have to pay them squat and they will have to get over it.
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mobile0311
Joined: 05 May 2008
Posts: 1040
Debtcc Points: 5559
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