National Credit Adjusters
Date: Wed, 02/25/2009 - 07:31
I have an old payday loan that was taken out in November of 2005. The loan was taken out in a state in which payday loans are illegal. I now live in a state in which payday loans are legal.
The loan was taken out over the internet from a company called 1000-Loan-Payday.com.
National Credit Adjusters now has the loan. I called to see about making payment arrangements. The only way the said arrangements could be made is if I give them a checking or savings account number for 3 automatic debits to cover the amount due. I told the lady that I would under no circumstances give that kind of information out.
Her reply was that the entire amount was then due. Since I refused to give her the requested information, she said she would make her "final reccomendation to the legal department".
I asked her what that means, but she repeated herself to me.
I pointed out that payday loans are illegal in the state the loan was taken out. Her reply was she hears that all the time and that I should get a good lawyer.
I have not DVed the company yet, but I have received numerous letters over the years. Is her threat of the legas department something I should worry about? Neither of these two companies appear on my credit report.
Please advise
Thank you
What state did you sign for it in? What state do you live in
What state did you sign for it in?
What state do you live in now?
When was the last time a payment was made?
Basically all their threats are baseless and have no merit. They will threaten to sue, put you in jail and forward to their legal team so you better call a lawyer if you don't pay today. They can do nothing to you and they are breaking the law if they threaten jail. It is basically extortion. with extortion saying pay up or else is what starts the violation and pretty much everything they tell you is close to that.
The reason I ask for the other information is because if the statute of limitations has passed, pay nothing to them. if they sue you, counter sue them and have their case thrown out.
National Credit Adjusters
The loan was taken out in Pennsylvania. I now live in Nevada.
The loan was taken out when I had some severe financial problems. It was taken out over the internet in November of 2005. Before I had a chance to pay it back I had to close my checking account due to several other payday loans hitting at the same time. I paid 2 payments in November of 2005 and had to stop paying on the loan.
Thanks for your response.