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payday one and national credit adjusters

Date: Wed, 02/20/2013 - 11:07
Submitted by on Wed, 02/20/2013 - 11:07
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Hey,
I received a letter from National Credit Adjusters yesterday stating that they had bought my account from payday one. We defaulted on payday one two years ago. It states that they bought and are assuming all rights granted to the original creditor. All Obligations you agreed to and incurred wtih PayDay One of Delaware are now owned by NCA. I live in Tn. and I know that the internet loan was legal.... Do I ignore this letter, or do I need to send something back to them.... they say that I woe them 1532.00 but are offering me a settlement of 800... Please help.... It says that I will be sending my payment to NCA and not Payday one.... the funny thing is, is that nothing is showing on my credit report... What is the next step for me... Please help


I haven't borrowed any money from NCA.. It just said that they had an interest in settling this account that was originally with PayDay One...I will send a letter.... Is it likely that they will send something back to me?


Submitted by on Thu, 02/21/2013 - 09:55

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Ask National Credit Adjusters to validate the debt in writing via certified mail with a return receipt request. If they don’t give any valid proof, then don’t make any payments. Payday one is a legal lender. So you are responsible for both the principal and interest. In this case you should contact with your original lender and try to negotiate with them.


Submitted by on Wed, 02/20/2013 - 20:08

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I am not really sure which Payday One you are dealing with here simply because there are a lot of illegal lenders out there going by that name. Only one lender using that name is legal and licensed in a lot of states in the US although their website mentions nothing about lending/licensing in TN. Hit NCA with a DV request sent via CMRRR and see what turns up.


Submitted by Steve Barris on Wed, 02/20/2013 - 20:11

Steve Barris

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If the debt has been bought by NCA, then you'll have to make payments to them only. How much have you borrowed from NCA? The settlement offer is not bad but you can negotiate with them to reduce the balance even more. Make sure you get the settlement agreement in writing.


Submitted by on Wed, 02/20/2013 - 20:12

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