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HELP?! - Advice on defaulted Payday Loans in Oregon

Date: Sun, 08/13/2006 - 13:53

Submitted by anonymous
on Sun, 08/13/2006 - 13:53

Posts: 202330 Credits: [Donate]

Total Replies: 2


My mom is on ssi & ssd. She got herself into a huge mess with payday loan companies both local and on-line. She has signed up with a credit management company called Hess Keneddy in FL. We are located in Oregon. The letters have gotten really threatening and she has had people from some of the places show up at her home. I need to know what to prepare for. What other steps can we take to proove she is trying to get out of this situation? These places make me sick everytime I pass one.I hate that they feed on people who have no where else to turn. What actually happens when you can't pay back a loan and it defaults? If they take a person to court does it just become a judgment you have to pay back or can you to to jail?


Daisy, you can't be sent to jail for not paying the debt. The company will try to file a case at the small claims court and force you pay the debt through court orders. Check the payday loan regulations in your state and see if the company is charging permissible interests and fees.

Ask the company to give you the latest statement of your loan account and make payment arrangements with them. Your efforts towards paying the debt will matter in case a court hearing is fixed. You need to have everything documented. Consult your counselor for your next appropriate moves.


lrhall41

Submitted by BuildingWealth on Mon, 08/14/2006 - 15:39

( Posts: 491 | Credits: )