Texas Law II. What is harrasment?
Date: Thu, 05/04/2006 - 00:34
"Collection practices. A payday loan constitutes a credit relationship for all purposes, including collection. If a borrower defaults, including the return of the check to the lecenee from a financial institution due to insufficient funds, closed account, or stop payment order, the licensee may pursue all legally available CIVIL means to collect the debt."
All righty gang, for all of us who live in Texas, to me, this means that we can't go to jail for supposedly passing a hot check, especially since the law stipulates that a payday loan is not a hot check but a "credit relationship." Now, to all those in "the know", if you are threatened with "Hot Check" proecution because you closed an account or had NSF, is that threat harrassment? I think I read somewhre that it is illegal for a creditor to threaten you with prosecution if you default. Is this true. Inquiring minds are waiting.
All righty gang, for all of us who live in Texas, to me, this means that we can't go to jail for supposedly passing a hot check, especially since the law stipulates that a payday loan is not a hot check but a "credit relationship." Now, to all those in "the know", if you are threatened with "Hot Check" proecution because you closed an account or had NSF, is that threat harrassment? I think I read somewhre that it is illegal for a creditor to threaten you with prosecution if you default. Is this true. Inquiring minds are waiting.
notell39 Any kinds of threats during collections are illegal
notell39
Any kinds of threats during collections are illegal in the fdcpa. It has been clearly stated in the FDCPA.
There is no such law that restricts closing of the checking account. You can do that anytime when you are going through financial problems. The creditor must understand the situation and work out arrangements with the person instead of violating the federal laws.
