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major help needed- threatening calls

Date: Fri, 05/21/2010 - 11:21

Submitted by anonymous
on Fri, 05/21/2010 - 11:21

Posts: 202330 Credits: [Donate]

Total Replies: 17


Him
My wife and I have had major financial problems since I was laid off 6 months ago. We had gotten a few PDL's and were getting eaten alive by fees like everyone else. We have been trying to make good on all the loans and even signed up with Town & Country (who seemingly have done nothing). They are all extremely unwilling to make payment arrangements that we can afford, like one wants it paid off in 2 lump sums, and they all claim it has to be paid off in 2 months at the latest. On only my wife's income this is completely impossible or we will be living on the street with our children!

Here's my major problem right now :

I got a call from a 1-877-431-6840 and they are calling themselves CRS but when I asked the lady what that stood for she said " Charles, Robertson and something"? Like it was some law firm or something. Anyway, I think its B.S. and it may be this company that y'all are talking about called "Capital Recovery Services". This is over a payday loan from ACE Cash which are located in a lot of states. They threaten to send a "summons" out to my wife's work.

How do we stop all this so people don't show up at my wife's work?? She could loose her job if that happens! I fully intend to pay everyone off but don't know how to get them to cooperate. Any help or any knowledge would be appreciated, Thanks!


First of all I am going to give you a link so you can educate yourself on your rights, and what is required of a debt collector:
http://www.expertlaw.com/library/consumer/fair_debt_collection.html
Second, the next time they call, tell them they have 5 days after their first initial contact with you to send you a dunning letter (letter of collection) via the mail, that's a federal law (FDCPA). If they continue to call you after you mention this, file a complaint (you can do so online) with the FTC (link in my signature), date this complaint because you may need it as proof, print out the complaint and keep a copy for your records. Make sure you explain in the complaint that you told this collection agency NOT to call you anymore until you receive a letter of collection, but you haven't received any as of (insert date) and they still continue to call! Now, the putpose of this is to prove that you requested a letter of collection and the complaint to the FTC is documentation of such.

Next, if and when you receive a letter of collection (I doubt it), you will have 30 days to dispute it and request debt validation, and you REALLY should do this, send this debt validation request to them certified, return receipt requested. ALL collection efforts MUST cease until they send you proper validation. You can read all about it on the FDCPA site. I hope this helps.


lrhall41

Submitted by Shazzers on Fri, 05/21/2010 - 11:35

( Posts: 17344 | Credits: )


Quote:

Originally Posted by Anonymous
Ok thanks. Now how does all that work as for setting up payments, and getting to talk to someone who doesn't just threaten you? And is this for collectors from store front as well as internet?

Thanks

Well, it depends upon the Internet payday lenders, there are far too many of them who aren't licensed to lend, I would need to know the names of them before determining that. As far as making payments with the collection agency, it may never come to that, the reason I say this is because a lot of collection agencies aren't able to validate a debt, they just don't have the proper documentation required, so what ends of happening is they will sell off the debt to another collection agency and the process begins all over again. Yeah I know, it's a vicious circle, indeed. However, on the other hand, if you go ahead and pay this collection agency, they may end up trying to sell the debt off anyways, and you could end up paying for it twice, or maybe even three times, that is why it's best to make them validate the debt. Unless they are a reputable collection agency (and few are), and you can make payments arrangements IN WRITING, I would NOT negotiate ANYthing until the debt is validated. The fact that they are trying to charge you interest and fees is a pretty good indication they are running a shady business.


lrhall41

Submitted by Shazzers on Fri, 05/21/2010 - 12:06

( Posts: 17344 | Credits: )


Ok it didn't take as long as I thought.

Internet loans:
Zip19
Ace cash service
mycashnow.com
upfroncash.com
cash central
one click cash
national-paydayloan.com

Most of them have been paid several payments of interest, I don't know if this means anything or not.

Also, the call from "CRS" is from a store front loan, does that make any difference?

I really appreciate all your help and I hope I can get out of this mess.


lrhall41

Submitted by on Fri, 05/21/2010 - 12:21

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We have already closed the account that's why they are calling and threatening now. We have also had a few store front ones, most have been very willing to work with us but one in particular, Ace, has sent it to collections and that is the one that called from CRS saying we have to pay it now or we will be served and end up in jail. I know that's not legal but I don't know how to deal with them. Thanks so much for your help already.


lrhall41

Submitted by on Sat, 05/22/2010 - 09:09

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The next time the collection agency for Ace, calls you, tell them they have 5 days after their first initial contact with you to send a dunning letter (letter of collection) in the mail, that is a federal law (FDCPA) and as a collection agency (if they are legit and comply with the FDCPA) they should already be aware of this, but, they must not be compliant if they are threatening you with jail, you can't go to jail for owing a debt, and you need to file a complaint against them for doing so, the link to file a complaint with the FTC is in my signature.


lrhall41

Submitted by Shazzers on Sat, 05/22/2010 - 14:12

( Posts: 17344 | Credits: )


I have written the dunning letters as well as cease and desist letters but I'm having a hard time figuring out where to send them to. A lot of these loans are with collection agencies (who are completely unhelpful as you know), do I send it to them or the original company??


lrhall41

Submitted by on Fri, 06/04/2010 - 11:22

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Quote:

Originally Posted by Anonymous
I have written the dunning letters as well as cease and desist letters but I'm having a hard time figuring out where to send them to. A lot of these loans are with collection agencies (who are completely unhelpful as you know), do I send it to them or the original company??

Send them via email, no need to waste money on certified mail, especially when most of these lenders are overseas anyway, or only have P.O. Boxes, an email is just as effective when it comes to illegal lenders. You can do a search of this site to find email addresses, or go to the BBB site.


lrhall41

Submitted by Shazzers on Fri, 06/04/2010 - 12:32

( Posts: 17344 | Credits: )