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Pay Day Loan Nightmare

Date: Mon, 01/17/2011 - 15:38

Submitted by anonymous
on Mon, 01/17/2011 - 15:38

Posts: 202330 Credits: [Donate]

Total Replies: 10


Hello. I took a pay day loan from a company called Loan Point USA. BAsically they are harassing me via phone because they have only recieved the amount of the original loan back, but not the finance charges. My question is: Are there any circumstances where you can be arrested for not paying back the full amount to these lenders? I live in Florida and the company says they are based out of UTAH.

I am wondering if I am going to get in trouble criminally for this? I keep reading different blogs. SOme say you can, some say you can't.

Thanks


Quote:

I am wondering if I am going to get in trouble criminally for this? I keep reading different blogs. SOme say you can, some say you can't.

Just read your payday loan laws, it clearly states criminal action prohibited! A debt is a civil matter, not a criminal one, and like I said, loanpointusa isn't licensed anyhow, heck, they aren't even licensed in Utah! They go by several alias's, one is GetECash.


lrhall41

Submitted by Shazzers on Mon, 01/17/2011 - 15:57

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Thank you so much for taking the time to answer my concerns. I told the collection agent that criminal action is prohibited in Florida and she said it goes by the state that the lender is in, not the borrower. She said that in Utah they can prosecute. When I looked at the state law in Utah it was not clear.


lrhall41

Submitted by on Mon, 01/17/2011 - 16:29

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It doesn't matter what they say, they are LIARS! As I said before, they are not licensed in Utah, so they are breaking the law by issuing loans period. Just tell them to shove it where the sun doesn't shine and don't talk to them again. Either that, or change your phone number. These online payday lenders are nothing more than Internet criminals, want an idea of how they are scamming people, [URL="http://www.debtconsolidationcare.com/paydayloan/internetpdl-list.html"]READ THIS![/URL]


lrhall41

Submitted by Shazzers on Mon, 01/17/2011 - 16:37

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Correct me if I am wrong...but it sounds like you entered into a loan, regardless of where and how and you are complaining about having to pay the finance charges? You're going to have a real problem with creditors in the future if you don't pay finance charges. It's hard to feel for you when you are actually talking about defaulting on a loan. Perhaps you don't know how loans work.


lrhall41

Submitted by on Tue, 01/18/2011 - 09:30

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Quote:

Correct me if I am wrong...but it sounds like you entered into a loan, regardless of where and how and you are complaining about having to pay the finance charges? You're going to have a real problem with creditors in the future if you don't pay finance charges. It's hard to feel for you when you are actually talking about defaulting on a loan. Perhaps you don't know how loans work.


I'm thrilled to correct you because you ARE wrong.

a) The lender was not licensed to extend loans in the OP's state. Therefore the loan was illegal.
b) The unlicensed, illegal lender charged interest rates/fees well above the state usury rate. Therefore the loan was illegal.
c) They are now calling, harrassing and threatening the OP by making false claims such as: "you will be criminally prosecuted." This shows how unethical these people are as they will (and do) do anything to drain you of every penny possible.

It's obvious you work for one of the many illegal PDLs out there and are coming here in an effort to, what? Ease your guilt?

We don't need your comments or opinions here.

Thanks!


lrhall41

Submitted by OhioGal1 on Tue, 01/18/2011 - 10:52

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Quote:

Correct me if I am wrong...but it sounds like you entered into a loan, regardless of where and how and you are complaining about having to pay the finance charges? You're going to have a real problem with creditors in the future if you don't pay finance charges. It's hard to feel for you when you are actually talking about defaulting on a loan. Perhaps you don't know how loans work.

Did you read ANY of this thread?


lrhall41

Submitted by Shazzers on Tue, 01/18/2011 - 12:06

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