Default payday loan taken to court

Hi rachelm

I don't think payday loan lenders will take the matter to the court. It involves court costs and other expenses. The matter will be solved before taking it to the court considering the fact that if you are willing to pay it.

I think that if you keep paying something towards your account, you can prevent your account from further passing it on to the collections and also making it delinquent. I guess this plan works in a majority of the cases.

Even if it goes to collection agency..or will it just keep getting sold and resold?

rachelm-

You might have signed (electronically) a wage assignment if you defaulted on your payday loan. If you can't afford to pay this I would recommend sending a letter revoking this. Most payday loan companies have their own legal department. Depending on the company they could easily file a motion to recover funds and no court apparence would be necessary. If you're worried about this going to court, I would consult with an attorney to get their advice. It's always a best bet to maintain contact with the loan company if you do plan on paying this off. Maybe they could work something out for you.

-Mike

Even if it is sold to the collection agency, they are also willing to accept a payment plan from you. However, I wrote this article a couple of days back when the creditor is not validating the debt. Check out this article to know more about it.

http://forums.debtcc.com/forums/battle.html

what happens wham your account has defaulted and the creditors are ready to send it to the court system? and what could happen to me?

mikedont

Don't let your creditors take the matter to the court. If possible, settle the matter outside only. If the lender wins the case against you, the judge will decide your payments and you will have to pay it in legal terms. So, that will become a priority and you won't have any other way but to pay it.

It might also happen that your creditor will sell the account to some collection agency. Dealing with collection agencies is not a good experience. Above it, they will be hitting your credit file and the negative remark will stay for a period of seven years.

There are many other bad effects of defaulting with your creditors. Paying off the account will perhaps be a good decision.

I have 5-6 payday loans--i guess I dont have to explain I got into big financial trouble. Also, I am in between jobs start my new job on 7-24. Everyone has been so nice but ONE, he will not accept an arrangement starting when I get paid--I explained to him what happened, and my intent was to pay them. He is threatening a warrant FOR MY ARREST FOR THEFT BY DECEPTION. He wants a payment in 2 days or he said he will issue or have the warrant issued? Has anyone ever heard of this?? I don't have any money until I start my job---no money to borrow from anyone. Please help

pettyn ae the intenet lenders? what state are you in?

Is it a online lender or a store front lender? What is the name of the lender? If it is an online lender all they are trying to do is intimidate you. They are not going to have you arrested or charge you with fraud. We have found that most of the online lenders are not licensed and they violate the laws in the states in which the borrower lives. If it is a store front lender, they can take you to court and get a garnishment against you.

Advance America is taking me to court for my payday loan.

Store front lenders can use a city court for a small fee in my area. There are several payday lenders in my area that do this. They are listed in the legal section of the local paper if they get a judgement.

Does anyone know where I can find the laws for RI re: internet payday loans? I would like to find out what my rights are.

Thank you

pettyrn, you cannot and will not be arrested. That is a screa tactic

I have had a payday loan with ACE Cash Express that I could not pay back and they won't work a repayment plan with me. They were telling me that if I don't pay it in the next 24 hours, they are going to file a case against me. Does anybody know anything about this? Can they take you to court? Please help.

Has anyone heard of Rogers, Powell & Speaks? And have you had any dealings with them. Any information would be helpful.

Thank you

pls i need help i got sues from the loan but i did pay them back and they still ask for more now i have to go the court this month for it:(

pls i need help i got sues from the loan but i did pay them back and they still ask for more now i have to go the court this month for it:(