PDL Collections for Payday Loan Yes
Date: Fri, 05/08/2009 - 06:10
Thomson and Associates must send you a DV notice within 5 days o
Thomson and Associates must send you a DV notice within 5 days of first communication in order to start the process of debt recovery.
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Is this company legit and can they do that? |
If the CA can validate the debt, they can definitely sue you to the court and bring judgment against you to recover it.
No they CANNOT threaten you with criminal action...debts are a c
No they CANNOT threaten you with criminal action...debts are a civil matter. Plus you dont file suit with a sherrifs office. PLUS this is a CA collecting....CA's cannot sue!!
As far as my knowledge goes, a collection agency is also a debt
As far as my knowledge goes, a collection agency is also a debt collector and so they can even sue a debtor to recover the debt as per FTC. I went through the FTC site "http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm" and checked it out.
That is true, however from my understanding I believe it depends
That is true, however from my understanding I believe it depends on the official holder of the debt.
If the CA is collecting for the OC, the CA will most likely turn it back over to the OC then you may be sued by the OC. If the CA has bought the debt from the OC then the CA can sue in that case. It is unlikely that a CA will sue unless they have solid grounds too. It is quite expensive to do so for them, and they would definately be suing you in hopes of a favorable outcome. From my experience CAs suing are rare, but it is not impossible :? At least that is what I thought.
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There are two cases where a collection agency is likely to sue a consumer: If the agency has purchased the debt from the creditor, the debt is fairly large (at least several thousand dollars) and the consumer has the means to repay in some fashion, such as cash on hand or in the form of assets, such as a home If the consumer signs a written agreement on how he or she will repay a debt to the collection agency and then does not follow through on his or her obligations. If the collection agency wins a lawsuit against a consumer, it then has the right to garnish wages and go after a person???s assets, which it cannot legally do before this happens. SOURCE |
Maybe others who have more knowledge in this will be along to clarify.
*FYI* Paydayloan Yes is Illegal. So I highly doubt any of this will be taking place :wink:
payday loan yes
does anyone have a valid address for them. I have sent a cease and desist and they continue to try to debit my account, my bank has stopped it but I want a paid in full letter and I can not seem to get to the right place - they have several names as well.
