Still owe on an Ilinois PayDay Loan...no clue what to do

Date: Tue, 11/09/2010 - 09:03

Submitted by anonymous
on Tue, 11/09/2010 - 09:03

Posts: 202330 Credits: [Donate]

Total Replies: 3

I took out a loan with M1y back in June of this year. The original amount was for $250.00 and they only were able to deduct $75.00 before my account was closed.

I sent my ACH revocation letters and my wage assignment letters and each time they came back as a failed delivery through my email. I tried to contact them numerous times to pay back the $175.00 that i would owe according to my state law.

Now i have a "law firm" calling me at work saying that the balance is $450.00 and that they are going to send notice to my employer! I asked them to sent me something in writing showing who they are and they said they will only send it once a payment arrangement is made and a payment has cleared.

I have every intention to pay back the rest of the principle but this firm has no interest in doing so! W

What do i do now??? THanks for the help that any one can offer!!

Also they said they sent a letter to my house which i obviously

Also they said they sent a letter to my house which i obviously never received. And since i didnt repsond to that letter, they plan on filing a case in court to garnish my wages. Can they get a court order to garnish my wages for $450.00 when only $175.00 is owed?? Thanks!

lrhall41

Submitted by taybern23 on Tue, 11/09/2010 - 09:08

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You need to file complaints with the AG, FTC and BBB in your are

You need to file complaints with the AG, FTC and BBB in your area if you haven't already done so. What ever you do don't pay them anything without them sending you a validation letter of the amount due. All you are required to do is pay the principle amount. Send this so called law firm via email, fax and or mail a cease and desist letter. No reputable company would threaten or scare you. I just recently started going through all of this, and so far out of 5 PDL's only one of them starting calling me at work. I'm not going to let them scare me to the point of being afraid because that is what they want. Get every thing in writing, don't make any deals over the phone.

lrhall41

Submitted by Buzzette on Tue, 11/09/2010 - 09:10

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No illegal lender or collection agency is going to go to court a

No illegal lender or collection agency is going to go to court and get a judgment to garnish wages. Just another scare tactic.

lrhall41

Submitted by Buzzette on Tue, 11/09/2010 - 09:13

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