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Hi I took out a loan for 300 three weeks agoo but do not remember what loan place it is. They direct deposited to my acct n now are deducting the payment of 50 every other week.it say on my acct loanshop/penncap. But now I've been receiveing calls from 951 lawyer stating I'm being sued for not paying back they even called to my job stating there was I a cop going to my house or job to arrest me cuz I haven't paid. What do I do? I dnt have the number of loanshop/penncap...




First of all non-payment of debt is not a criminal offense, it???s a civil case. So you can???t get arrested for that. What state do you live in? Is your lender licensed in your state?

Sub: #1 posted on Sun, 08/12/2012 - 23:10

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If the loan is from LoanShop, you do not have much things to worry about. Its an illegal lender and you are only required to repay the principal amount that you have borrowed. Send ACH revocation letters to your bank and the lender.

Sub: #2 posted on Mon, 08/13/2012 - 00:46

NathanielCopeland NathanielCopeland

(Posts: 272 | Credits: )

Go to your bank and close the account. If you can't close the account, then at least put it into the deposit only status. You'll have to pay back only $300 to them. Nothing else. Loan shop is an illegal lender. They can't sue you. No cop is going to come to your house.

Sub: #3 posted on Mon, 08/13/2012 - 02:20

ditchdebt ditchdebt

(Posts: 678 | Credits: )

Follow the link in my signature line for the proper information on how to deal with illegal lenders.

Sub: #4 posted on Mon, 08/13/2012 - 05:38

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17271 | Credits: )

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