Loan Point USA Collections
Date: Thu, 04/21/2011 - 11:19
I am sure you have answered this somewhere. Here is the quick story-I had a loan with Loan Point USA princp. amount $300 and have paid back over $600.I sent them the letter found here-they continued to debit my account. My bank was really nice and we closed my account . And set my other account to return any over drafts unpaid and I keep very little money in it. I live in KY and they do not recognize ANY internet lenders as legal-KY does not even enforce the principle. I have contacted the BBB and the State Attny. The BBB said LP would not respond. This all happened 30 days ago. I received my first collection call at work - she left a vm. She stated she was with LP but if I did not repsond quickly she would turn this over to thier attorneys. What is my best course of my action at this point?
It will be your discretion whether you'll contact them or let th
It will be your discretion whether you'll contact them or let them contact you. As payday lending is illegal in your state and as you've paid off the principal amount, you won't be liable for paying anything else to the payday lender or their attorney. They won't be able to take any legal actions against you.
Contacting the BBB is a waste of time ...they cannot do anything
Contacting the BBB is a waste of time ...they cannot do anything for you.
Email LP and tell them that they are illegal and that you have contacted authorities and that you will not be paying anymore back because they are illegal.
Quote:I am sure you have answered this somewhere. Here is the qu
Quote:
I am sure you have answered this somewhere. Here is the quick story-I had a loan with Loan Point USA princp. amount $300 and have paid back over $600.I sent them the letter found here-they continued to debit my account. My bank was really nice and we closed my account . And set my other account to return any over drafts unpaid and I keep very little money in it. I live in KY and they do not recognize ANY internet lenders as legal-KY does not even enforce the principle. I have contacted the BBB and the State Attny. The BBB said LP would not respond. This all happened 30 days ago. I received my first collection call at work - she left a vm. She stated she was with LP but if I did not repsond quickly she would turn this over to thier attorneys. What is my best course of my action at this point? |
Yes, you are right, payday loans are prohibited in your state, therefore this collection firm is attempting to collect on an illegal debt. It would be in your best interest not to discuss any financial matters over the telephone, because as far as you know it's only a voice on the phone. It's standard practice that illegal lenders call and leave disturbing messages and outrageous threats. Just hang up on them, they aren't going to take any legal action against you because that loan is not enforceable in a court of law.
[URL=http://www.debtconsolidationcare.com/forums/showthread.php?p=800358#post800358]CLICK HERE[/URL] to find out how to deal with collection phone calls!
