payday loan company says I owe them 1439 on 200 dollar loan

Hey Neil, welcome to the forums!

Sounds like you're dealing with one of the many illegitimate companies that a few of us have dealt with. There is no way you could owe nearly 1500 on a $200 loan. If you pay the company back, send a money gram or order for what you borrowed...don't pay anymore than that!
If they keep harassing you, you can report them to the FTC or BBB.
As far as garnishing your wages go, they MUST obtain a court order...they can't just do it. In this case, no more than 25% of your paycheck can be taken at any given time. I doubt your wages will be garnished, however...consult an attorney if they keep threatening it.

Thanks lindsey now i dont know if this matters or not but i just found out that in the state of pa a debt collector can not garnish my wages for personal consumers debt ex:credit cards,loans. Lindsay also the guy form the payday loan company keeps on saying that the legal department is going to call now he told that to me yesterday and today at work he called me not the legal department.

You're very welcome Neil!
Just keep in mind, that these payday people take their frustration out on innocent people, on purpose. They realize that there ARE people that aren't gullible enough to pay 10 times more than they borrowed. SO...they will say stupid, untrue things like "We're going to have you arrested" and "We're going to tell your boss."

One guy actually told my boss that I hadn't paid him...and my boss told HIM off. If they harass your work place, remind them that is illegal to do that. Inform your supervisor that you are being targeted by a fraudulant company. They might take action.

I'm also willing to bet that the company that keeps calling you does not have a "legal department." Please do not worry...they're only saying these things to scare you into paying them your life's savings. One guy kept telling me he was an "Investigator." Well, I work for the government WITH investigators and REAL investigators do NOT inform people that they are investigators.

Keep up the great research, Neil. You'll be all right. Just dont let them get to you. Tell them that you are only paying what you borrowed and that if they keep harassing you, you'll report them to the FTC.
:-) Good luck!

Hi Neil

Calling you at work by any collection agency is a violation of the fdcpa law and it should be reported to the Better Business Bureau and the FTC. You can also take the matter to your state attorney general office. Their address has been given at the link below.

http://www.debtconsolidationcare.com/forums/about2851.html

You can also record all the telephonic conversation and inform the agency that you will be presenting this legal proof to your lawyer.

I hope they will refrain from their further actions.

Regards
Roxette

Thanks guys i really appericate the info and input. you all have been a big help. Lindsay the other funny thing is that the payday loan did not even go to a collection agency it is still with in the place that i took the loan from. This site has been really helpful. You all have a good weekend. Again thanks a bunch.

You too have a good weekend Neil. Remember, these problems relating to finance are always like separating clouds. They will just have to pass by. They won't stay for ever.

I just paid off to of 4 loans I owe. The last of which I had the pleasure of having to deal with Ellis about. They were actually very pleasant and I paid of the amount in full though it was about 265.00 more than I owed. They have not bothered me again, as I let them know my rights up front, and sent letters to that effect. Anyho my last loan is with Plaza Processing and I can't find the contact info anywhere. Could you get that for me? I want to pay asap as after the E.C. thing, I want these out of my life and I am now ina situation here I can pay them. Thanks!

Quote:

It comes up as plaza processing on my bank statements.
Thanks1

Vikas, Any luck finding contact info on plaza processing? I am desperate to get in touch and pay these people off so I can be done with these loans. Thanks!

I tried to find out the number of plaza processing. I have got this number though I am not sure if this is the company that you are looking for.

(212) 947-7233 370 7th Ave New York

You can ask the credit bureau to provide the address details of the said company by which you will be able to contact them.

If this particular company is debiting your accounts, you can close this account and open a new one. Doing this, it will prevent further debits.