sent to collections
Date: Thu, 06/07/2007 - 17:24
I took out a payday loan n dec 2006 for $300. I made 7 payments of $90. I closed my account in April and now a collection agency is calling me with threats of jail. I live in NJ and just found out that they should never have lent me the money.
You have paid this off...and they cannot take you to jail and it
You have paid this off...and they cannot take you to jail and it is illegal for them to threaten you with so. You need to close your bank account and open a new one...also you need ot send them a letter revoking their authorization to take money from your account(they will disregard that info but do it to cover your behind that way you can dispute the charges with your bank) and also revoke any voluntary wage assignment you may have signed and send a copy to your payroll dept so that they cannot try to take your check! FILE COMPLAINTS WITH YOUR LOCAL ATTORNEY GENERAL!
In New Jersey you should file with the Department of Banking and
In New Jersey you should file with the Department of Banking and Insurance as well as the AG. The AG has a consumer affairs division that will look into the collector's actions, but Banking and Insurance has the power to order the lender to cease-and-desist making loans in New Jersey.
