Payday Loan - $200 turned up to $1600

Date: Mon, 04/03/2006 - 12:44

Submitted by anonymous
on Mon, 04/03/2006 - 12:44

Posts: 202330 Credits: [Donate]

Total Replies: 23

Hello to everyone! This is my first time here and I am so looking forward to getting some good answers. From what I have read I really like the repsonses. My situation is about the same as all of you. I took out a payday back in November of 2005. The loan was for $200. This loan has turned into a $1600 loan. It was never my intention not to pay it back, but things do happen. Anyways, the payday loan company has transferred the account over to a collection agency in Dallas (I am in Texas by the way), and this collection agency has told me that I am going to be served with papers for passing a bad check, and that they would be presenting my case to Bell County at 3:30 that day, that the only way that I could stop all of this was by giving him my bank information and allowing them to debit $400 a month from my bank account, and if I did not agree to this that I would be going to jail for a bad check. Well, he scared me...I'm not even going to lie. So I gave him my bank info, but when I finished talking to him I contacted Bell County and was told that they could present it all they wanted but it would not be accepted because it was a post dated check and not to worry, and on top of that since it was done over the internet, I did not give them a check, only my bank info but no check was written or given just an application. After talking to them, I contacted the agency back and told them that I was cancelling my agreement and that they were not authorized to go into my account. That was in the middle of March, and on April 1 they contacted me again and told me that I would be served in the next couple days unless I gave them the bank info and made an agreement with them. I told them that I could not pay, and that I was not giving my bank info. He asked for a fax number so that he could fax me a letter, I gave him the fax number, and what he faxed me with a debit Authorization Form for my bank info. I called the Attorney General here in Texas, was told not to send the form back. The guy called me back and questioned why I did not fax the form back, I told him that I needed a letter in writing from them telling me about the debt I owed, he told me that the original creditor them have sent several letters to my address of 10 YEARS and that it's my prolem if I did not receive any of the 8 letters! I told him to resend the letter certified and he refused stating they did not have to send me anything. He told me that I had 15 minutes to fax the auth form back, or I was going to jail, and he disconnected the call. So, my 3 questions are this....is what this agency doing right? How do I get them from calling me at work? they have been told several times and yet continue to do it? and last but not least..where can I find a Cease and desist letter so that I can send it to them? To everyone that can assist me..Thank you :)

report the agency to your state AG they are violating federal an

report the agency to your state AG they are violating federal and likely state law. th next time they call tell them so, and that you intend to take legal action to insure that they are punished for their actions. Then find an attorney try naca.net and search for one in texas, call them talk to them and if they think you have a case, sue the pants off em. make sure from now on that you docuemnt each an devery time they call in a notebook maje suer you note date time and note what was said.