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Payday lender trying to collect on old payday loan

Date: Tue, 06/19/2012 - 15:02

Submitted by tania.velasquez
on Tue, 06/19/2012 - 15:02

Posts: Credits: [Donate]

Total Replies: 3


I got a payday loan back on 11/18/2011 from AAFA of Colorado d/b/a Firsta American Cash Advance in Colorado Springs CO 80911. I got a loan for $500.00 with finance charge of 292.54= total payment $792.54. I was making payments for two months but due to my disability I was unable to go in a make my monthly agreement payments so I had just told the clerk via phone call to deposit my last check of 510.45 which would of been my balance. The check was deposit in my account on 2/21/2012. They had informed me that I would be paid in full with the check being deposited but never received a reciept since I had them do this over the phone. Well I just got a phone call from Advance american cash advance center of LLC d/b/a Advance American dba Advance America Cash Advance Center stating that they had bought out First American and I am still showing a balance of interest due to they didn't deposit the check in time. Can they do this? I mean I had not heard from them till May saying I owe them interest. This isn't the company i even got the loan from . If this is not legal what can I do to assure I won't get introuble or anything taking effect to my credit report.


the cancelled check should be enough even if a new lender took over the loan.again it's not your problem the OL cashed the check late.you may want to file an AG complaint against the new lender though.


lrhall41

Submitted by paulmergel on Thu, 06/21/2012 - 06:23

( Posts: 15514 | Credits: )