Day 1 and already turned over to Collections Agency

MPEREZ, things are not as bad as they seem. When you first close out your account and these places can't get your money, they are going to bombard you with phone calls, threats, etc. Stay strong, you have the law on your side. Remember that these pdls are illegal where you live! If you want to fight these places on you own, I know that you can do it. Or, you can do as you said and use a company such as Langhorne or T and C. Just remember that you are strong and you are taking your life back. It's going to be ok! Who did Paycheck Today send you to for collections?

This was all they said:



They gave me a one time offer of $455 to settle. They say I owe $575 I say they owe me $530.

Whatever...they will probably send you to some illegal collection agency too, or in house collections. Don't let that bother you. The law is on your side! You already filed a complaint with your AG didn't you? I would let them handle it......

Dont get a debt settlement company. You can do this youself and save a ton of money. They are Prohibited there plain and simple. The NY AG is very agressive towards these loans. You will hear from them . Just take a big deep breath and enjoy the weekend. KYSIDE38

OK - I was trying to gather all my papers and was going to file with the AG in writing but I will still get everything ready but I said screw it and just filed with him online. I copied my thread entry on what do I really owe - listing all the companies what I borrowed and what I paid. Should be interesting.

Good for you, the sooner you get those complaints in, the better. The only way we are ever going to stop these places is if everyone complains. Good luck, and try to relax. We are all here for you. :)

Thank you for all of the support - I would have never been able to do this if it wasn't for this website. I thought I was so stupid for getting myself into this hell hole - until I came here I thought I was the only one. My apartment complex has been so understanding about my late rent payments - the first thing I did with this paycheck was pay current and the month of July. My reward was they gave me all new kitchen appliances today. So there was some good today and I have to believe it will out weigh the bad.

I am so glad that you were able to pay your rent today! The appliances are a pretty good bonus too! I too thought I was the only person in the world dumb enough to get all these pdl's until I found this site! I was so surprised when I came here and found out that I was not alone. Oh and I was relieved too......I am glad things are looking up for you :)

I really think the attorney general will help you deal with these places. The NY attorney general really hates payday loans and has sued several.

At least you know the bleeding away of your money has stopped. You can pay for what you need now, instead of each paycheck going straight to these payday loans.

hi mperez--

Good to see youre getting a lot of help here on the forums. Whatever you do, do not panic. The "collection agency" you will likely hear from will use all kinds of tactics. They will claim that you are guilty of fraud, they may claim that you will be arrested....I know this even though I have never had a payday loan, but because of this forum. Remember these points--

1--you cannot be arrested for this. Period.

2--There is no criminal charge of fraud--this is a civil matter. It is not a criminal matter. Because of this, no police officers will be coming to arrest you. Some of these companies actually say "you need to pay me over the phone right now or officers will arrive within the next four hours to arrest you..."--this is flat out illegal, so dont fall for it.

3--all of the things listed above are violations of the fdcpa, a federal law that outlines how debt collectors can and cannot treat you. If these violations take place, you can then sue them. The penalty they would have to pay is up to $1000 per violation....and that payment would go to you, not to the court. Now might be a good time to get a tape recorder to hook to your telephone. In the state of New York, where I assume youre from because someone else mentioned NY, it is legal for you to record a call without telling them, as long as you are one of the parties in that call.

Also, when CA's contact you, you can send them a cease and desist letter. If they contact you after that, its another violation. I would do these things in addition to contacting the AG as you already have, just to cover all the bases. If there is anything else we can help with, dont be afraid to ask. you WILL get out of this mess, it is not as bad as it may seem. The best part right now is that they can no longer just take your money.

Excellent post from Skydiver--and I want to add that if the collection agency that calls you is Bass and Associates, remember that they are essentially full of crap and be sure and document everything about your conversation: the name of the person, date, time, what lies they told, etc. There is no way these illegal companies will risk being exposed in a court of law in your state.

Some of these ipdls send you to their "in house" collection department which they give another name to, which leads you to believe they are an outside collection agency. What is the name of the collection agency? I say you are done with them, get your complaints in, don't lose sleep over these losers.

good point steelers, also remember this too--if a company uses a different name to represent their "collection department"--that is, if they tell you they are from a company other than the original creditor, then the courts have found that they have presented themself as a third party collector...and that means that the fdcpa DOES apply to them in such a case. Of course, it doesnt apply to the original creditor.

Yeah, that's a good point. I would bet that it was sent to their in house collections. 1 day is pretty fast for a company to decide that they can't collect. But then again, maybe they noticed how illegal the loan is and are trying to get it out of their hands as fast as possible.

Yhe NY AG will handle them. Here in WV if they use the collection agencys to try and enforce collections on an already ILLEGAL loan. They are going after the collection agencys also. KYSIDE38