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Posted: Wed Aug 30, 2006 12:50 pm Subject: Payday Loan Collections

Does anybody know if your PDL company turns your account over to a collection agency (universal fidelity) does that automatically put a judgement on your credit reports ? Thanks

Posted: Wed Aug 30, 2006 1:08 pm Subject:

The simple answer is NO. Judgments are not possible automatically. A legal case must be filed at the court and the judge will ask your appearance at the court. Summons will be served by the local clerk at your mailing address. The defendant is given 21 days during which he can try to settle the matter with the plaintiff outside the court

Posted: Wed Aug 30, 2006 1:11 pm Subject:

Thanks maybe I used the wrong terminology. Once a PDL turns your account over to a collection agency, how does that impact your credit rating and the information that is provided to the credit report agenicies ?

Posted: Wed Aug 30, 2006 1:33 pm Subject:

Which company was it and has UF validated the debt? You need to start there. I doubt that it will ever show up on your credit report.

Posted: Wed Aug 30, 2006 1:35 pm Subject:

Thanks for the info, I'm dealing with Sonic and they have threatened me this would go to Universal Fidelity

Posted: Wed Aug 30, 2006 1:38 pm Subject:

Yeah, they are famous for that. Don't let them get to you, they've done that to several people on this board. They just want to pay it off so they can loan you more money and scam you some more. Pay them what you can when you can and don't fret Sonic.

Posted: Wed Aug 30, 2006 3:34 pm Subject:

Have a look at this topic on Sonic that started yesterday. They are going down in Northern CA.

http://www.debtconsolidationcare.com/collection-agencies/pdl-garnishme nt.html

Nurse 1313 · Posted: Wed Aug 30, 2006 11:45 pm Subject: PDL

Got tangled up in PDL. I am being threatened taht they will contact my job. HELP. I never wanted it to get so bad. How can I get help?????????

Nurse 1313 · Posted: Wed Aug 30, 2006 11:47 pm Subject: PDL

Posted: Thu Aug 31, 2006 9:14 am Subject:

How many loans do you have ? Who are they with ?

Posted: Thu Aug 31, 2006 9:18 am Subject:

Nurse, What state are in? Are they storefront or internet?

Posted: Thu Aug 31, 2006 10:20 am Subject:

Nurse,
You have rights. Let us know what state you are in and we can tell you exactly what they are. I know you want to pay what you legitimately owe, but we can help you make fair arrangements to do just that. Keep us posted!

Posted: Thu Aug 31, 2006 12:20 pm Subject:

I decided to close my checking account today, actually the bank was very nice about this once I mentioned the problems i'm having with PDL's. The bad news is since my payroll went in today, there blocked from closing it until tomorrow. That means I will probably have to pay $150.00 in NSF fees. Oh well at least going forward they won't be able to access my account anymore. The person at the bank mentioned they are very well aware of PDL's and the problems they present. Just thought I would pass this along....

Posted: Thu Aug 31, 2006 1:16 pm Subject:

You made the right decision and move. Do not give your new account (if you opened one) number out to anyone. Interesting that the bank would be aware of problems. Take control of your situation now and stay away from payday loans.

guest · Posted: Mon Sep 04, 2006 6:25 pm Subject: Sonic/Universal Fidelity to awknow2003

I defaulted with Sonic, they made a lot of nasty phone calls and empty threats. Don't let them intimidate you. They tried the wage assignment; revoke it immediately and close your account. Then they sent me to Universal Fidelity 7 months after default for far more than the original amount. I sent a debt validation letter and have heard nothing back. Screw these pigs. They would be getting payments if they had cooperated in the beginning. Like a lot people I took out too many PDLs. The ONLY solution is close your account, let them all default and make payment arrangements. Even the storefront who said they didn't accept payments (Ace Cash Express)is now taking payments from me. Make the storefronts a priority. Only pay back the internet loans if they validate.

Posted: Mon Sep 04, 2006 10:13 pm Subject:

You are right,guest. The store front pdls can,and do take people to court. If you have pay day loans it is better to get those taken care of first. I have had store front ones that are willing to work out something when they found out that I wasn't trying to dodge them,but just wanted to get it straightened out. If the other pay day lenders send it to a CA,send them a debt validation letter,certified,return receipt. Chances are,you'll never hear form them again,as many are operating illegly to begin with...Karen

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