Pay day loan in AZ, took out in 6/17/2010
Date: Mon, 02/20/2012 - 19:46
I took out a Pay Day Loan in June, 2010 from Advance America in the amount of $500. I couldn't afford it and had to close my account in order to get my finances in order. I know now that Arizona does not offer or will not offer any pay day loans. Will this help me in my favor because AZ passed the law.
I am getting calls that they are going to send me to jail, warrant out for my arrest, processing serve the works. I also know that some of them are scam artists but they still are worrisome to me.
My question is can I go to jail for this. What is the next step I should take? I already file a complaint with the Attorney General last year regarding this.
Any help would be greatly appreciated.
You are right. Lending of payday loans is not legal in Arizona.
You are right. Lending of payday loans is not legal in Arizona. You can't be arrested for the payday loan debt. You'll not go to the jail. This is scam. Don't get bullied by them. Just payback the principal amount.
Ditchdebt...did you bother to do any research what so ever BEFOR
Ditchdebt...did you bother to do any research what so ever BEFORE giving out wrong advise??? Advance America is a store front lender and was more than likely legal prior to the law change.
Since the enactment of the new Arizona law prohibiting payday lenders from extending payday loans to consumers, payday loan lenders can no longer provide new payday loans to consumers. However, payday loans taken out before June 30, 2010, are still legally valid, and [URL="http://www.ehow.com/info_8490636_arizona-nonpayment-pay-day-loans.html#"]creditors[/URL] have legal collection rights to demand repayment against consumers. If a consumer borrowed money from a payday loan lender before June 30, 2010, the lender can still require him to repay his balance at the previous interest rate.\
To the poster...you still more than likely owe the debt...you didnt say whether this was a store front lender or not. You can be served for this debt. However the CA collecting on it is violating the FDCPA big time. Who is calling you???[LEFT]
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You definitely owe this debt. Advance America is a legitmate st
You definitely owe this debt. Advance America is a legitmate storefront operation. I would recommend contacting Advance America directly and telling them what happened (financial hardship, etc. ) and seeing if they will let you make payments to them. If not, they should be able to give you the name of the CA to which it was sold.
I do find it strange that they took this long to contact you. Had you moved and weren't getting mail or were you just ignoring the correspondence?
