Payday Loan Debt Validation

skydvr is more knowledgeable in this area, I am going to forward this post to him.

I will say one thing though, the chances of them even responding to the debt validation request in slim to none. Also, now that you have a date they received this request make sure you journal ANY phone calls you receive from them attempting to collect on this debt because the FDCPA states ALL collection efforts must cease during the validation period, they can't even report on your credit report during this period. You can sue them if they do, for up to $1000.00!

If they provide your contract, you can simply respond to them stating that the contract is not valid as 1) it doesn't have you signature on it and 2) even if it did have your signature on it, the company is illegal in your state which invalidates the contract.

Awesome! I have an excel spreadsheet on a flash drive. I have already documented each contact. I also cut and pasted the information from USPS.com into the sheet. I figure I won't hear anything but wanted to be prepared. Is the validation period the time between the CA receiving the letter and me receiving any response? Or does it end when they provide the proof I requested and continue until that point indefinitely?

If you don't have a fair debt attorney try locating one at the link below, I'm not sure if there is one in your area but it might be worth looking into.
http://www.fairdebtforconsumers.com/

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Thanks! I'll see what happens. If they violate the FDCPA you can bet I'll contact an attorney to work on contingency.

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hiya--

first things first, with an illegal payday loan you are still responsible for the original amount of the loan. Not the interest, not the fees, but the original amount that they put into your checking account. If you have already paid that much, then whatever you paid over that amount you can make a case to get back if you sued them.

The thing to do right now is to wait. See what they respond with. If they continue trying to collect without validating, go look for that attorney--dont wait. If they send something for validation, be sure to let us know what they sent you. We'll go from there as far as what to do next. But youre doing great with keeping those records. Make sure to document EVERY contact.....

Okay they sent me a letter stating that I had taken out a loan of $500 and paid back nothing. Now remember this is Mynextpaycheck which says they aren't but they are Paychecktoday. I had already overpaid Paychecktoday by like $3000. I have detailed records of how I know they are the same company. Including e-mails from a collections person with the Paychecktoday phone number in her signature when she should have been acting on behalf of MNPC.

They sent me the letter then a copy of the screenshot with my "typed" signature.

What now?

then do as skydiver suggested and find that attorney.they are trying to use another d/b/a to collect money when you are owed a refund.btw the screen shot of a typed e-sig means nothing as anybody can type your name.they validated nothing in my eyes.

Leavengood and Nash are consumer lawyers in Tampa that work FDCP on contingency if this helps.

I just left a voicemail for an attorney. First to see if he'll work on contingency and second if he thinks he can help me. UGH soo frustrating. I didn't think they'd get back to me at all.

hang on a second.you're in VA.ARM is licensed in FL,but does that mean they can collect on you in VA?either way file AG complaints against both the lender and ARM.send your AG all the info you have.bottom line this collector is trying to collect using a different d/b/a.don't take it lying down.even if an attorney won't help your AG will.

Does anyone have a good template to respond to the CA telling them that the contract is not valid because 1) it does not contain an actual signature and 2) that it's invalid in the state of VA?

Skydivr any help? Exactly what was sent:

1) Letter on ARM of FL letterhead stating deposit amount, fee amount and balance
2) Pages 3,4,5,6 of 7 from MNPC box checked next to "Yes, I agree to all the terms of the Loan Agreement" and my typed name in a box

I just noticed it says 8/31/2010 at 12:00:00AM I'm sure I wasn't on the internet taking out a loan at midnight, EVER.

there are templates in the DIY section,but you can draft a letter yourself.btw it doesn't matter what was checked.this pdl is not legal in your state.look ove the templates and customize it to your needs,and please file the AG complaint.you owe nothing and ARM is acting illegaly.