Can I be arrested for default on payday loan?

Re: can i be arrested for default on payday loan

Arizona requires Internet based pdl's to be licensed by your state. Just at first glance it looks like most of yours aren't licensed to lend to Arizona residents.

Quote:

Quote:

They are saying they are going to come to my work and take me downtown if i dont pay by tomorrow. Can they do that for $562.00? They are saying that it is a misdemeanor to write a bad check in Arizona if it is over $500. Can I be arrested for default on payday loan?

Quote:

It's a lie. Payday loans are not considered bad check writing in the state of arizona.
Quote:

It is checksmart. I had told them I would pay but I didn't have all the money at once. And my account was closed by my bank because of all the NSF charges from them trying to run the check over and over. They said I had to have a check to make a parcel payment so I ordered checks from an other account I had and by the time I got them cheksmart said I had to deal with the corporate office who then said they couldn????????t take parcel payments even thought the branch had agreed to accept them.

I don't see Cashnet USA on this list of licensed lenders for AZ I could be wrong can someone else check? can i be arrested for default on payday loan?

I believe all of the ones I listed are illegal in AZ can someone help me with this? Does anyone know if you have two accounts at the same bank and you close one (the one they are debiting) can they go after the other? I heard they can do this and some state it in their contract. I have read some of the contracts and it is not specific. Can I be arrested for default on payday loan?

After further research I have discovered they are legal in AZ. How do I handle them anyone know?

Quote:

Can I be arrested for default on payday loan? Possible wayout.

I hope the information below will help you. :)
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.

[quote]What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE

What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.

File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.

Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.

Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. :)[/quote]

Quite honestly, I would get an account at a different bank.

I am closing my account today, well in advance of the anticipated debits occurring on 10/17. I am currentlly up to date on all payments but I cannot continue sinking. I have checked again and the only legal one in AZ is Cashnet USA. After I close my account today, since I am still in good standing with Cashnet I am going to call and ask for the EPP that I believe I can ask for once in a 12 month period. All the other lenders will be receiving my letter (thank you for the sample letter) on Monday when I am sure my account is officially closed. Looking at my bank account I have paid SGQ 5 $90 fees exceeding the loan amount of $300. I should be finished with them right? Thanks for answering my query "Can I be arrested for default on payday loan?"

I work at a bank and see all kinds of trickery from the payday loan establishments. As I tell my customers, you MUST read all the fine print that seems insignificant at the time you took the loan. The other fine print I suggest reading is the bank's depository agreement. Each bank will clearly spell out the manner in which they handle ACH debits. My bank (unnamed) states if you have pre-authorized ACH debits outstanding and the account is closed, the account will automatically re-open.

Thank you bankerk for that information. Is it also true (FDIC) that a customer can revoke ACH debits from their account 3 days before they happen and then follow-up with a written request within 14 days? Banks do have the capability of closing an account and putting a freeze on it for any activity (in or out) while an account goes through the closing process which can actually take up to 6 weeks correct?

Thankfully I found this thread.

I had a loan with cashnet usa back in Feb. We were having issues and ultimately forgot about them all together. I've moved to another part of AZ since then. Yesterday, I got a call on the job from TRI Associates who claim that they represent a company CNE Recievables who bought my debt from Cashnet. They're now claiming that I owe $700 more than my original loan amount. I just got off the phone with AZDFI and it doesn't look like they're licensed in this state, nor the shell company he told me bought the debt (a search of TRI Associates showed they're affilliated with CNE Associates). At this point, do I still have the option of settling this debt with Cashnet USA? What legal rights does TRI Associates have in this state even though they're doing business here illegally?

Cashnet USA is legal and can lend in Arizona. As far as the collection agency I dont know about that. I am completing my EPP with Cashnet this week and then they are done. I found them fairly easy to work with if you get to the right people. They are CFSA so call CFSA and tell them you want the name of someone at their corporate level. It helped me alot.

I had to stop payment on my loan because i did not have the money can they take crimianl action

Criminal action is prohibited but they can take civil action against you. Stay in touch with them and try to work something out.

You cannot be arrested for defualting on a payday loan...The only way that you can be arrested is if you wrote the check and closed the account out the same day, or if you gave them a fake or stolen check. My best friend (soon to be husband) is a judge and he stated a payday loan is a loan & the only thing that you can be liable for is civil claims (monetary damages) He said if you write a check for your mortgage loan & it bounces, they will take your house, you can't be locked up.

if the pdl is an illegal internet pdl,and your customer brings in the proper form revoking ACH rights which are revocable.then every transaction after you receive the form is fraud.you see i know someone who also works at a bank.

Mybank closed my account due to overdraft. I received a call today that I am being served with bank fraud and hot check papers. Can this be possible

Who was the call from? your bank or a payday loan company?

Bank fraud is the use of fraudulent means to obtain money, assets, or other property owned or held by a financial institution.

we have been receiving calls from national advance payday services, the guy is indian you cant understand a word saying i owe them 500.00 then i ask for info on this because i supposedly took this out in november an internet situation, dont remember the website this guy gave me a number to call also indian person, syas someone is coming to the house to take me to court, i ask which court, doesnt give me any info. then he gives me a name and number they identify themselves as this lender and again say we have till the end of the month and that the court situation has been delayed all in one night? then when i asked for more info and proof sent to me he hung up, and then called 5 times in 1 day to say he would call back in 5 minutes with the court info, never called back. also another guy also indian, said he was from a law firm and when i asked name address he wouldnt give it to me... so no info given no info sent.......can you be arrested in the state of florida for other payday loans from other states? tired of the calls, i have a few loans out, internet lenders, but lost my job disabled now and living on social security, my wife is also disabled. please someone clear this mess up for me? also before i end this the first person to call me said he was from crime management services. anyone heard of them? thanks for all replies all i can say is god be with us all who have made big mistakes of getting involved with the internet and payday loans!!!!! he also said that 500.00 will turn into 5000 if it goes to court, true or not?

Thats why people should put a hard block on their accounts and look the bank manager right in the eye and say:

"with the hard block, now nothing will be allowed to be processed through my account right?"

The Bank Manager: "no, not with a hard block".

You: "good!" "because now the BANK is responsibile if anything goes through.

Now hand the bank manager a letter revoking all ach transactions and a letter of indemnity stating you will not be responsible for loses to the bank if they do not honor the letter of revocation. The letter of indemnity puts the monkey on the banks back, and believe me the bank dont want to eat the losses.

kengra,

Payday loans are much like unsecured credit card debt. So no you cant be arrested for debt. But they can take you to civil count and get a judgement against you. However you stated you were on social security disability, the creditors and even a judgement can not garishish disability benefits.

They are NOT allowed to harass or threaten you.

Since they have already harassed and threatened you, you should file a complaint with your states attorney general, and with your states division of fiance.

Is National Advance Payday licensed to lend in your state?

What about Ohio I have closed my checking account as I am losing employment and have to file for unemp can i be arrested in ohio for non payment of payday loans anad can I include them in bankruptcy once 90 days has passed from date loan initially filed I have paid fees on one 4 times already and have never been delinquent in over 2 years until now thanks

Read the thread. Debts are civil, not criminal. Debtors prison went away with the dark ages.

I applied for an online payday loan and was approved. The next day Not only was there the loan amount I was expecting but there were also 3 other online payday loan deposites by different companies? I did not apply for them but they say I agreed to their fees? One of them even sent a few emails asking me to read and agree with the loan agreement, I never responded but the next thing I know, Theres another loan and more fees... I refused to pay those...I didnt and now I am getting calls nonstop. The account that I had, I tried closing, bank of america, and was told it was closed. That account is now extremely overdrawn due to the online payday loan companies that keep putting in for money? What should I do? Can they garnish my wadges? Can they take me to court? I asked for one loan not 5!!!! My credit was decent until these companies were able to access my account!

can you be arrested for defaulting on a payday loan in FL? this lady is saying they will come to my job and put me in jail. since she has called 2 weeks ago ive made 2 payments. i want to pay it off i just cant do it all at once. is she just trying to scare me?

Quote:

I have been recieving calls from am arbration law firm coplaining that i have a payday loan out online for 710.00 i have not taken a loan out online for a us loan company , now they are telling me that i will be arrested how do i hadle this matter .

Quote:

can i be arested for not paying my payday loans

NO!! Tell these people threatening you with arrest to go screw themselves and call 911 if they call and threaten that again. YES, I said 911. Impersonation of a police officer is a felony.

unless there is proof(like a recording)calling 911 is not necessary.they do need to file a report as that is illegal,but again unless there is tangible proof do not call 911.

I totally agree with paul...DO NOT CALL 911. It is not an emergency...your life/safety is not in immediate danger by some out of state/county caller. Call the main number

Sorry but when someone is on the phone calling you and saying they are coming to arrest you in 2 hours if you don't pay that is worthy of calling the police. Perhaps the non emergency number, but still. As someone who comes from a family of cops and has discussed this exact issue, police are very interested in going after people who impersonate them, especially to defraud people.