Can legal CA collect on illegal payday loan?
Date: Fri, 12/17/2010 - 10:15
not really.you see the debt is illegal,and if the collector is l
not really.you see the debt is illegal,and if the collector is legit a letter stating that fact will in alot of instances get the CA to send it back to the lender as a legit CA will not risk the ramifications that come from attempting to collect on illegal debts like ipdl's.
Paul is right, but I would like to add something. They could col
Paul is right, but I would like to add something. They could collect if you didn't exercise your rights and dispute it, this is why it's important that you not simply ignore it, but to follow through with disputing it.
I sent them a copy of my ceast and desist letter I had sent to
I sent them a copy of my ceast and desist letter I had sent to quickest-cash-advance.com and said I have paid all but $75.00 and that do to phone scammers I do not answer my phone and to please let me know where I can send the $75.00 I owe on this payday loan and that is all I will pay. This is all I legally have to pay right?
As long as you are sure they aren't legal in your state.
As long as you are sure they aren't legal in your state.
quickest-cash-advance is MTE and they are illegal in Minnesota.
quickest-cash-advance is MTE and they are illegal in Minnesota.
Quote:This is all I legally have to pay right? Well, I guess tha
Quote:
This is all I legally have to pay right? |
Well, I guess that depends a lot on the terms of your loan agreement. In case you need to pay any late fees (or other associated charges) you'd need to add them too. Go through the papers works in order to be sure of what you exactly need to pay.
Quote:Well, I guess that depends a lot on the terms of your loa
Quote:
Well, I guess that depends a lot on the terms of your loan agreement. In case you need to pay any late fees (or other associated charges) you'd need to add them too. Go through the papers works in order to be sure of what you exactly need to pay. |
That might be true if the loan was a legal and binding contract to begin with, but in this case it isn't. Illegal payday lenders are not entitled to interest and fees due to the fact they do not have the proper licensing, an illegal loan contract is not enforceable in a court of law.
I know PDL's are illegal in the state of PA. I've had CA's try t
I know PDL's are illegal in the state of PA. I've had CA's try to collect from me, on defaulted PDL's I've had (just couldn't keep up with the fees, etc). The CA's always threaten to come to my home, etc. I just hang up on them. GOSH....it's annoying!!
This is a good example of how payday lenders harass consumers. I
This is a good example of how payday lenders harass consumers. I guess they won't ever be able to sue us if payday lending is illegal in our state. If payday lending is illegal in our state then the contract between us and our lender won't even be considered to be valid. As the contract is not 'binding' or 'legal', they won't be able to have the much needed jurisdiction or authority. They might try to intimidate us, and all we need to do is to stay firm against all odds.
