Plain Green and Collections
Date: Fri, 09/07/2012 - 15:04
I have had three loans with PG and two have been paid off. However, I still have a loan with them and because I've lost my job and am unable to pay them or anyone at this time, I decided to add up the interest from the past loans and the payments already made on this current loan and it totaled well over what the principle balance is. I used the form letter found on this site and their response was that they would not use the past interest for this current loan. Well I responded that it was unacceptable and that this was the only way they were getting repayment as all of the contracts were illegal and unenforceable in the state of Virginia. However, my question is : What do I do if they sell it to a U.S. collections company? They will place it on my credit report and will try to collect but shouldn't this be illegal as well since the loan is technically illegal in my state? If they have their own laws why would it be ok for a collections company bound by state and federal laws to buy the account knowing that it's unenforceable?
They may sell it to a CA. At which point you can send that CA a
They may sell it to a CA. At which point you can send that CA a cease and desist and state that you are aware they are collecting on an illegal tribal loan.
If some collector places an illegal loan charge on your credit r
If some collector places an illegal loan charge on your credit report, you can dispute it with the credit bureau. That should take care of the matter.
