BIG LLC & CMJ payday loans
Date: Thu, 01/29/2009 - 13:02
I have two issues. Before finding this website I took out two payday loans a couple of years ago, things got tough and even though I tried working with them for the repayment they kept taking out the money from my bank account, resulting in an overdraft. I finally closed down the account. Late 2008 I received a call from a collection agency representing BIG LLc, the rep told me a owed $2700 (i only took out $250) due to all the NSF. He offered me to start paying at least the fees so my account could be current. Unfortunately, I was very ignorant to all this and so agreed and gave him my new bank account info. I have paid already $540 in fees and they are still telling me I owe them the $250. Even though I have threaten to close down my account, they wont stop debiting my account. How can I make them stop?
Issue #2...I get constant phone calls from a collection agency representing CMJ. He has told me that my ssn is in a blocked list and that some officers will come to my place of employment and arrest me. He has also said that I will be losing my job over this unpaid debt. I've been ignoring his calls, but once he doesnt reach me at my cell phone he calls my job. Its very annoying. I have told him to stop calling me so much (4-5 times a day) but he wont stop. Please help me!
BTW..I live in the state of Massachusetts. I have been trying to educate myself with the laws but am desperate for fast answers.
Thank you!
Issue #2...I get constant phone calls from a collection agency representing CMJ. He has told me that my ssn is in a blocked list and that some officers will come to my place of employment and arrest me. He has also said that I will be losing my job over this unpaid debt. I've been ignoring his calls, but once he doesnt reach me at my cell phone he calls my job. Its very annoying. I have told him to stop calling me so much (4-5 times a day) but he wont stop. Please help me!
BTW..I live in the state of Massachusetts. I have been trying to educate myself with the laws but am desperate for fast answers.
Thank you!
First off payday loans are illegal in MA. You have paid the prin
First off payday loans are illegal in MA. You have paid the principal on this loan many times over.
Here are the laws of MA.
Quote:
Legal Status: Prohibited Citation: Small loan act applies. Mass. Gen. Laws Ann. ch. 140 ?? 96 et seq.;209 Mass. Code Regs. ?? 26.01. Check cashers are specifically prohibited from making loans unless licensed under the small loan act. 209 Mass. Code Regs. ?? 45:14(8). Small Loan Rate Cap 23% plus $20 administrative fee upon the granting of a loan Where to Complain, Get Information: Regulator: Massachusetts Division of Banks Address: One South Station Boston MA 02110 Phone: (617) 956-1500 Fax: (617) 956-1599 |
You will need to close the account. That is the only way to stop them from debiting.
They can not arrest you nor take you to civil court as they illegally gave you the loan which means the collections of those loans are also illegal.
File complaints with them with the BBB and the MA Attorney General.
Do not give them one more dime.