ThinkCash/Default

Payday loans are legal in Virginia (VA). As a result, you'll be liable for paying off the principal balance as well as the fees and other charges. I think it is scare tactic by the payday lender to inform you that they have charged you with a check fraud. I don't think you'll be arrested for this. You should check out whether or not the payday lender has the license to operate in your state before making any payments to them. If they have the license to operate in your state, then you may negotiate with them for a settlement of your debts so that it becomes easier for you to pay off the loan.

Think Cash is an installment loan, not a payday loan. You should have received a schedule of payments due. The loan will continue to accumulate interest until paid off. It would be to your advantage to either bring the loan up to date or to negotiate payments. The longer you wait, the more you will owe.

I have been trying to arrange payments with Thinkcash, they advised me loan had been sold and nothing further they can do. Any advice?

You will have to deal with the collection agency that holds the account. If they call you, tell them they are required to send you a collection notice and that you will not converse with them until you receive it. At that point you will have to negotiate payments with them.

If they mail you a collection notice, you can request validation of the debt before negotiating payments.

Thank you, I will do that. They threatened me for check fraud, which I didn't think was correct, but their scare tatics do work on me. Thanks again!

Check fraud is not a valid threat. They would have to prove that you intended to default on the loan. If you'd been making payments prior, that would be nearly impossible to do. Once you get your debt validated, I suggest you try to negotiate a settlement.