Payday Loan Situation ( Kentucky)

Date: Thu, 06/16/2011 - 11:47

Submitted by anonymous
on Thu, 06/16/2011 - 11:47

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Total Replies: 5

In 2008 while struggling I took out a payday loan with Pay day one. Shortly after I lost my job and could not pay bakc the amount ($665). Yesterday I get a call from a Powell Law from Denver Colorado saying that I had to pay the amount now or legal action would take place. So before I called back this morning I did some research and it appears internet payday loans are illegal in my state (Kentucky). My question is, do I have to legally pay them anything? I know in Kentucky you can know payday loan unless you are liscnesed to do so and the only way possible is to have a store front property.

You will be liable for paying them only the principal balance as

You will be liable for paying them only the principal balance as they are illegal in your state. You won't be liable for paying any late fees or charges to the payday lender.

lrhall41

Submitted by Anna Sweeting on Thu, 06/16/2011 - 20:37

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I thought since internet payday loans are illegal all together t

I thought since internet payday loans are illegal all together that technically I do not have to pay them a dime? I have a kid due next month and out of a job at the moment and have zero money I can dish out at the moment.

Also, what debt collector calls you and says " your stalling. I have seen this a million times. Man up to your debts."

I have never had anyone call me for a balance owed speak like that.

lrhall41

Submitted by on Fri, 06/17/2011 - 03:12

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I guess what i am trying to figure out is legally can they do an

I guess what i am trying to figure out is legally can they do anything to me? Cause they were spewing they have no idea how much trouble I will face if I don't pay. They said they will take me to court and it will not be pretty.

Please help. With this baby on the way I do not need this right now. I know I have made mistakes, and I have learned from them. I am just pretty scared right now.

lrhall41

Submitted by on Fri, 06/17/2011 - 03:22

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powell law is a bottomfeeder

this place has to sue you in your county,town,village,or bourough.this place is located in CO and is not licensed to practice law anywhere else.btw PDO is not registered either as a pdl,or CSO in KY.so you need to send the bottomfeeding powell law office a DV(debt validation)letter certified mail return receipt.here is the address

powell law office,pc
11551 e.arapahoe street suite 160
centennial, co 80112-3833

ph#877-299-4801
fax#866-447-1392

next time they call confirm that address with them.check out their reaction as they sure weren't gonna give you it.then hang up and get the letter out asap.once they receive the letter they can't attempt collections unless they can validate.which they won't be able to.

lrhall41

Submitted by paulmergel on Fri, 06/17/2011 - 06:16

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Thanks! The way they made it sound I was headed for death row. I

Thanks! The way they made it sound I was headed for death row. I knew something was up because there isn't a legitimate debt collector that threatens you.

My favorite line was " I am going to pass this on to my senior legal associates for them to take aggresive action. I hope you know what you are getting yourself into. And for being such a smart ass I may even recomend a wage garnishment."

lrhall41

Submitted by on Fri, 06/17/2011 - 07:00

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