What happens if I defaulted on a payday loan?

Date: Tue, 10/17/2006 - 06:53

Submitted by r_armstrong03
on Tue, 10/17/2006 - 06:53

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Total Replies: 5

what happens if i default on a payday loan? It is now being handled by legal mediation services. The guy keeps telling me that I will get served at my house or place of employment. He says i have until 3pm Texas time to repay the full amount. I asked what the consequences were if i could not come up with the money, but he would not tell me. Could I got to Jail? Could my wages be garnished? Please any help would be greatly appriciated!!!

You won't go to jail. Is this a storefront or internet pdl? And

You won't go to jail. Is this a storefront or internet pdl? And if it is an internet pdl, how long and how much have you been paying on it, and what is the name of the company that you took the pdl out with?

lrhall41

Submitted by WHEREAMI? on Tue, 10/17/2006 - 07:47

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I took the loan out from Ace Check Cashing. The amount was for 6

I took the loan out from Ace Check Cashing. The amount was for 600 but with fees attached the amount came up to 788.39. Before the defaulted loan even went to collections with legal mediation services. I offered to make two payments that would satisfy the amount, but they would not accept it. Now legal mediation services has the account and they threatned to take me to jail or garnish my wages. They repeatedly call my place of employment,to where the phone will ring back to back. I know it's them cause the same number comes up on the caller ID. Isn't this harrassment? Are they allowed to call my place of employment. They have even called one of my coworkers asking personal information about me. The guy from Legal mediation services has said that I wrote a bad check and that this is considered fraud. Once again any hep would be greatly appriciated.

lrhall41

Submitted by r_armstrong03 on Tue, 10/17/2006 - 08:14

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He is lying, this sounds like the in house collection for the pd

He is lying, this sounds like the in house collection for the pdl company. And no you will not be arrested and tell this idiot that he is committing a crime by making false threats to take your money, which is called extortion and that this is a felony and he can get prison time because you will press charges. Tell him that you have made attempts to pay this back on terms that you can live by. Stand your ground with them, then also send them a cease and desist letter to stop contacting you by phone and all contact is to be in writing. But seriously, he is committing extortion when he makes the statement you comitted fraud and if you don't pay up then your going to jail. You are not going to jail

lrhall41

Submitted by WHEREAMI? on Tue, 10/17/2006 - 08:22

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i defaulted on a pay day loan

I defaulted on a pay day loan and know their legal mediator is telling that I need to pay the loan right upfront or they will send me jail. Can they really come and pick you up. Or are they just trying to scare people to the money.

lrhall41

Submitted by on Tue, 07/10/2007 - 17:34

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Vanita, You will not go to jail, I promise. this is just one o

Vanita,
You will not go to jail, I promise. this is just one of the nasty lies these crooks like to use to scare people.

lrhall41

Submitted by finsfan13 on Tue, 07/10/2007 - 18:35

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