What happens if I don't pay the payday loans

You can call and explain the situation but I would secure your account first.

Maybe they will make some further arragements, it is worth a try. But don't be surprised if they still try and run those checks through.

It will stay in house collections for a while but I would advice you to try and pay them as soon as you can. They are legal and could sue you in civil court.

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I borrowed 350.00 from these people now they say i owe 5000.00 and they want to take me to court my summons should be here tomorrow what should i do i am so scared?

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no the aaa payday loan

I have never heard of AAA Payday loan. Is this an Internet loan or storefront??

$5000 on a $350 loan sounds like bogus to me :?

it was an internet loan and i dont know what to do they wanted me to pay 369.00 a month but i cannot afford to pay that much and they wont work with me they are very rude

Dont pay them a DIME!

What state are you in?

ky

ALL internet PDLs are illegal and prohibited in KY. Tell them to go pound sand.

I highly doubt they are licensed. What you will need to due is check with your state Dept of Financial Institutions to see if this company is licensed.

If they are not licensed then all you owe them is the principal balance borrowed, nothing more! So tell them to shove that $5000 :x

You can read HERE to find out what steps to take on dealing with Illegal lenders.

it went to a collections agency called West New York Capital Inc and they are the ones taking me to court where can i find the info where it says that all internet pdls are illegal in ky?

thank you so much

LOL they will not be taking you anywhere. If the loan is Illegal so is the debt and the CA trying to collect on it. I would send a debt validation to the CA and await their response.

As stated above all internet loans in KY is ILLEGAL period. Did they send you a court summons claimimg to take you to court or did they verbally threaten to serve you?

They are blowing smoke. If they were really suing you would get official papers from the court. Not from some idiot threating it over the phone.

From here. That is the link to the KY finance website.

It says...

[quote]What is a payday loan?
A payday loan, also called a deferred deposit, is issued when a financial institution (a payday lender or check casher) agrees to provide cash in the amount of the customer???s next expected payroll check for a fee. These short-term loans are required by state law to be paid in full before another one can be issued, and customers may only have one payday loan at a time. Internet payday lenders are not regulated in the state of Kentucky and are therefore illegal. [/quote]

Tell them to shove it or better yet hang up and do not even speak with them. The loan was illegal so the collection on that loan is as well.

they are threathning

Threats is all these clowns have. IGNORE IGNORE IGNORE! According to your state laws the loan is null and void.

So they cannot do a thing to you but run their trap :lol:

Like I said you are morally obligated to repay the principal but on your terms not theirs :wink:

THANK YOU SO MUCH YOU JUST SAVED ME FROM HAVING A HEART ATTACK, AND WHEN HE CALLED HE SAID HE WILL CALL MY SUPERVISOR SO WHAT SHOULD I DO NOT CALL THEM AND TELL THEM OR JUST IGNORE THEM

Pretty much. Tell them your are a possible victim of fraud. These clowns will cease at nothing to get your money :x

THANK YOU SO MUCH I AM ON THE PHONE WITH THEM NOW

I think Cool Abyss meant tell your supervisor you are a victim of fraud not the CA..lol

Or maybe I misunderstood :?

THEY TOLD ME NEVER TO CALL THEIR OFFICE UNLESS MY ATTORNEY CALLS AND THEN THEY ASKED ME HOW I BORROWED MONEY IF IT WAS ILLEGAL?

oh uh..

I was refering to your supervisors mkorlat

LMAO now YOU are harrassing them. That is rich!

I would leave it alone in my opinion. They got the message and will hopefully never call again. If they do tell them to piss up a rope and hang up.

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sorry i had the name wrong the name of the company for the pdl is paydayloanyes.com??? are they legal in ky?

Nope. ALL internet PDLs are illegal.

If you have many, they are all illegal. The only amount you owe id the amount you borrowed. Any fee or charges apply to that amount.

PayDay Loan Yes is very infamouns on this forum. Ignore the threats and stay focused on what we advised :wink:

NOW THEY SENT MY EMPLOYER AN EMPLOYMENT VERIFICATION FORM WHAT SHOULD I DO

They are trying to attach a wage assignment to your wages, meaning they are trying to get to your paycheck by gathering information :evil: Do not send then ANYTHING!

A "wage assignment" is voluntary and can be revolked at any time. Please advise your employer and payroll dept of the situation and send them this letter. You will also need to forward this to the PDL company by fax or e-mail.

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THE COMPANYS ATTORNEY ADVISED ME NOT TO SIGN IT I DIDNT AND THEY KNOW WHAT IS GOING ON I WILL LET THE PAYROL DEPARTMENT KNOW DO I STILL HAVE TO SEND THAT LETTER TO THEM EVEN IF I DID NOT SIGNT IT?

AND I WANT TO THANK YOU SO MUCH YOU HAVE BEEN SUCH A GREAT HELP TO ME

Yes it notifies them to stop all efforts on attempting to get to your wages. Basically your are revoking their rights to collect through wage assignment. IMO, I would send it to be safe.

No Problem, just stay clam we are here to help. Remember they are ILLEGAL and your state laws can back you up. :wink:

I have four store front payday loans in Texas, $800, $700, $600 and $330. I want to close the bank account and make arrangements to pay off debts as I am drowning and need to pay bills $600+ to loans still current today 04/29/09. I called my county hot check dept. they tell me this is a civil matter and not criminal this is still considered a loan. What I want to know is how can I find out who to contact to set up payment arrangements. I called the Texas AG, they gave me a phone number for credit commissioner who says CSO's are not regulated and only file as a CSO with chamber of commerce. :?

Ok i sent it to them via fax and i will email it to them and also send it certified mail. i am just scared i called the attorney general the consumer protection agency and am still waiting on a call from them i am just so upset over all of this :(

What are the names of the store fronts?

Check n Go, Texas Title and Payday Loans, Ace Cash Express and The Cash Store.

Jeffa you need to contact the storefronts themselves to set up what is know as an extended payment plan. This breaks down the loan with the finance charge into four equal parts.


You need to set up the EPP before the loan due date.

mekorla just stay calm everything will work out :wink:

Thank You, will they know what I am talking about, I mean the regular employees?

They should if they are CFSA members. Tell us the name of the storefronts.

I would like very much to make an extended payment arrangement before my loans come due again. I was just wandering if I needed to speak to store manager or owner or will the regular employees know how to make such an arrangement? I really appreciate the advise I can't afford to hire someone to negotiate a payoff on these and so must handle this myself. Thank You Sooo Much!

Check n Go, I know is. Ace Cash Express ?, Texas Title and Payday Loan ?, The Cash Store ?

I believe all those are registered CSOs in Texas.

Call them and inquire about the EPP.

I talked to the KY financial people and they said that they cannot even garnish my wages unless we go to court and since they are illegal they cannot take me to court... cool abyss thank you so much for your help if it was not for you i probably would have given in to these people and would have lost 5 grand THANK YOU SO MUCH!

Melinda

You Are Very Welcome Melindakor1231 !!

If you need anything else just ask and we will try our best to help you :D

I have a few payday loans, I got the loans on a bank account where I was just secondary on the account. The loan companies did not get the account holders signature. Account holder decided to kick me out and closed the account, bank says I have no recourse as I was not the owner of the account. What can I do about the loans? I don't have a bank account of my own and don't have money to pay as I have been kicked out.

Please list the loan companies.

the cash store, quick cash,ace express all are in Dallas,Tx

Ok these are all storefronts correct?

yes they are,I am using a friends computer as I don't have internet access, my friend turned me on to this site

and my friend says I can stay her until payday loans goons start looking for me to collect, sorry not funny, just trying to stay upbeat its been a crappy year for me