index page

Payday loans in Pa

Date: Mon, 04/22/2013 - 17:43
Submitted by on Mon, 04/22/2013 - 17:43
Posts: 202330
Credits:
[Donate]

hello, I received a payment demand notice in the amount of 2040.00 for several payday loan i had back in 2008. They gave me the option of paying the amount i owe in full or i have to file a 1099-C form to the IRS for unreported income and the IRS would flag my social security number for a tax audit.They also would file a judgment against me, allowing wage garnishment,liens and a writ of execution.They did not provide me with whom i owe or who they are collecting for. My credit report is not showing they have report to the three major credit bureaus as the letter states. but here is my issue i paid Progessive Loan Assistance almost 2000.00 last payment to them was in dec 2009 to take care of settling these accounts, I have all my paperwork and bank statements to prove i asked and paid for assistance and according their record at Progessive every PDL was paid or agreed to take a settlement for the just the principal amount. i don't know what to do I paid these people and i have no clue why they are bothering me after 4 years. Can someone please give me advise i don't want to have the IRS on my back and then be sued to. Please help!!! I just want some peace I pay all my bills on time since then and I have not taken anymore loans i learned my lesson.


Can you remember which lenders you borrowed from originally?
As for the collectors, find their physical address and send them a C&D letter.
The people who called you are scamming idiots. Form 1099c is used for filing canceled or forgiven debts, not for showing unreported income. 1099c is not required if the forgiven amount is less than $600.
P.S: If your debt was forgiven, your creditor would have sent you a 1099c.


Submitted by Steve Barris on Mon, 04/22/2013 - 19:48

Steve Barris

( Posts: 1043 | Credits: )


To make the records straight, payday loans are illegal in PA. These illegal lenders can't harm you in any way. I don't know how much you owed on the payday loans, but you're only required to pay back the principal amount. Nothing else. Trust me when I say, IRS would not flag your Social Security Number. It is just a lie.


Submitted by ditchdebt on Mon, 04/22/2013 - 21:26

ditchdebt

( Posts: 675 | Credits: )