Can They Arrest Me ?

NO NO NO. You can not be arrested for defaulting on a loan. If so they would have to build much larger prisons. It is just illegal scare tactics. Do not worry. All they can do is harass you ,. No one is coming to get you.Just calm down. I am assuming this loan is not legal. Even so , you are safe from arrest.Just be calm

ABSOLUTELY NOT!! DO not fall for this and do not let it upset you.

KAsh you beat me to it- This is the one that upsets me most!! I HATE when they do this to people. I can't even imagine the fear that people feel when they hear this on the other end of the phone.

km, I know you are upset. Most of these companies will not splurge on a stamp to send you a letter let alone foot the cost of a legal judgement, process server and a police officer. They are betting you do not know better, you will be scared becuase you do not want to be arrested, and you will pay up. Next time tell them to "come get me then" and hang up. :lol: I know this is scary, hang in there.

Well I already did let it upsetme, but the more and more I talked to this guy, I got the feeling he was just talking a lot of trash, trying to scare me, but I wasn't sure. I live in Ohio, and I don't even think they are in Ohio.

Hey kmswick06,

Dont worry there is no way that can arrest you. The personal on the other side is just trying to scare you so they can get their money. Notrhing to worry about.

:)

Initally, yes it does in a big way!!! But now you know and next time you will have the tools to deal with it. Good to see your instincts kicked in. :wink: If you are interested, you should ergister and stick around awhile. The people are very helpful...even if it is only in emergencies.

Dont worry, I believe Debters Prison was aboloshed in the 1920

If they were to arrest you they first would have to arrest themselves for operating an illegal pdl (LOL)

ladybug

I would like one day a person from a payday loan company to come over to my door. Ill beat the money out of him :D

Is this one of the loan companies that is overseas? Also, did he say what he is going to have you arrested for? I hate these kinds of tactics, too. It is ridiculous for a collector to make threats of arrest! They should be arrested for just making the threat! Don't worry kmswick...they can't do a thing but talk. Have you thought about filing formal complaints with your state's ag?

I found just quoting state law makes them shut up, once they know you know your legal rights, they mark you as an uncollectable debt and if you send them money good for you if not, they move on. They hate people in the know, which is why I give Kudos to this site.

And yes, debtors prison has long gone the way of a Dickens novel! Not only is this crap wrong, and a lie, it is a violation of the fdcpa, which prohibits creditors from making false threats like this.
The next time this happens, document the date, time and name of the person calling, and then call your local PD to ask if there are any pending arrest warrants for you. (trust me, there won't be. And then blast these people out of the water the next time they call!!

arizona guy, let me just give you and everyone else a warning. Not to scare anyone. But sending the letters and quoting the state laws might shut them up for a bit, but they do not go away. They will turn your account over to illegal collection agencies, they will report to the credit bureaus, etc. Just because they received something from you and have been quiet, do not think they are gone. They are already illegal and will continue to do illegal things, as I stated above. You need to check your credit reports. There just might be some nice little illegal collection accounts on there resulting from pdl's. Just a word of caution.

And - P.S. - if any pdl you are dealing with happens to be an illegal overseas one, you may not hear from them; however, they may attempt to send a wage assignment to your employer. Be very careful with this. Please do not think they have "forgotten" you. And all of these things can happen MONTHS after not hearing a word from the pdl. Use caution, please.

Oh yes, they love to work behind your back and serve you. And it is for sure that they will not forget about the money that you owe them :D

That's right. Service with a smile. They are shady 8)

I love the emoticons!

Cannr is completely right on this one--and I would add this: send a letter to your payroll dept your next working day revoking ANY voluntary wage assignments they might try and put through. Even if you don't think you signed anything giving them permission to do it, DO IT anyway. It's always better to be safe than sorry.

Thank you, ks. I revoked any wage assignment I may have signed to every single pdl that I had. Even the ones I knew didn't have one. I didn't want to "take the chance". However, one came through anyway. I know we try to "make light" of this whole situation; however, it is a serious one. Some people's employers have actually honored these voluntary wage assignments. I am trying to stress the importance of revoking them, keeping a copy, and giving a copy to your employer for your file. It also wouldn't hurt to "educate" your employer that these are voluntary. They do not have to honor them.

Cannr, as far as reporting to the credit agencies I have a quick question. Dont the credit agencies know that these are illegal companies? And if they do, why do they allow them to report?

Kash - Another age old question.... I have wondered the same thing myself. I can not wrap my mind around the fact that these companies are illegal, their CA's are also illegal and unlicensed, in KY they are not recognized as legal debt and are considered uncollectable BUT the illegal company can put a negative mark on my credit. It makes no sense and there really is something wrong with that picture. It really makes me wonder about the integrity of the whole credit scoring system.

Kash, I thought the same thing. And since these are illegal collection agencies, how would they have access to your credit report, a collection agency must have a license to report to a CRA...The whole thing is just mind boggling.

I am very uneasy about these IPLDs gaining access to anything I have, There is no telling what info thay can get from looking at things.I wonder if that is how some PDLs get new banking info. They seem to be able to look at and access anything and everything we have.

Well, they have all of our personal information. From our name, address, birthdate, employer, social security number, bank account information, etc. (Spooky now, isn't it?)I am going to just "assume" that any "company" can report you to the credit bureaus as an unpaid debt. I'm also going to "assume" this is why you have the option to dispute it on your credit reports. Also, you have the option to file complaints regarding this happening. Which is all good and fine since we have to fight, but we do have the avenues to take to fight. I can't imagine that the three major credit bureaus investigate every single company that reports to them. There would be no way on this earth they could investigate every company reporting on every person. Good Lord, this would take forever. So, I'm going to "assume" (once again) that they take it as a legitimate debt since this company has all of our information and shows an uncollected debt. This is why we do have recourse to fight it and file complaints and action can be taken (thank you anthony for stressing this). I am not leaving this matter in the hands of just me and the illegal collection agency. It has already been reported to the BBB, the FTC, and the state AG. I am letting them take action also. Yes, I did fight it out with them and yes, they did agree to close it and take it off my credit report. However, it is illegal. So the agencies are now involved. I don't think it's "enough" to handle it and get it resolved on your own. Even if it is resolved by yourself, I stil believe that they need to be reported to the agencies so that they, too, will take action against these illegal pdl's and illegal collection agencies. I'm actually looking forward to some responses from all of this. I know it will take time, but I'm very interested in what the agencies have to say. I'm sure they will respond with "it has been resolved and closed"; however, that's when I will respond with "Well, this company is an unlicensed/illegal company collecting on an illegal debt." Then we'll go around again. But I do have faith. I think that something (don't have a clue as to what) will happen to them. As anthony pointed out, they have broken both state and federal law here.

Great answer Cannr. It is a very scary situation. and its no wonder I am paranoid. I check and recheck everything i can. Banking, credit , anything. If I see something crazy, which so far I have not, I want to be able to jump on it asap. I suppose you are correct.being as these illegal companies have all our info, there really is no reason for the credit agencies to doubt them.We need to be vigilant and protect ourselves

I agree with you, kash. They know all about us. And can you only imagine how many other companies they have "sold" our information to? Lord have mercy on us all.

This PDL stuff has impacted every part of my life. It is incredible how these loans can turn your life upside down, If we only knew then what we know now!!!!! In a million years if I had any idea I never would have taken the first one. So easy to get,so hard to get rid of.

I was always "big" on pay day loans. I thought, gee, what a good idea. Get money and just pay it back on payday. Good Lord Almighty. The storefronts are bad enough, but at least they do it "legally". It's still ugly, but they're not out selling your information to third parties or sending wage assignments to your employer! The internet ones are the most horrible. Like you said, if only I knew then what I know now. Now whenever I hear of anyone wanting a pdl, I cringe. Storefront or internet. The storefronts are a vicious cycle. You can't get out of it. It's neverending. The internets suck you dry and then demand more until you're so broke you have to do "something". Either way you go, it's not a good idea. So, my whole view on pay day loans has changed drastically. I'm just being honest. I really didn't think pdl's were a big deal. I sure do now.

I'm with you, Cannr. They do suck you dry--and if I hear one more story of how someone's whole paycheck is going to pay their PDL's, I am seriously going to weep--and then forward the messages to my congressperson, saying NOW do you get it?? See why we need FEDERAL legislation??

Thank you, ks. I do believe we need to become more active in getting something done regarding pdl's. The store fronts are bad enough. Especially in the states where the laws are so undefined. A person can actually have 10 store front loans out at $500 each. Do you know how much money that is in fees alone each month that they pay? Let alone the internet pdl's that are just beyond reason.