If your loan is sold
Quick question: If your loan from a illegal lender in your state is sold to a collection agency in your state, is the loan still illegal since you sign up with an illegal lender in the first place and the collection agency purchase an illegal loan to begin with?
Thanks ... you are simply the BEST!
An illegal loan is an illegal loan. If you get contacted by
An illegal loan is an illegal loan.
If you get contacted by a collector, tell them they bought dirty paper and you're not paying them a penny.
Period.
The added bonus of them selling it to collections is that you ar
The added bonus of them selling it to collections is that you aren't even morally obligated to pay back the principal anymore, you can tell the CA to jump off a cliff :)
I have been dealing with WS
I have been dealing with WS/Cash Call and just got a letter stating they are charging it off as of today and sending to an outside collector. This whole ordeal has crushed my credit score by 130 points - which I still don't understand how an illegal/unlicensed lender can report to the CRAs. I have disputed until I am blue in the face, filed every complaint possible and still it sits. This is the last thing I have left to get taken care of, thanks to these boards I was able to break the payday loan cycle, negotiate with my legal lenders and get PIF from illegal lenders and have information deleted from my credit report EXCEPT for Cash Call (Western Sky). They refuse to budge and are asking for an additional $1,790 to settle the matter and refuse to remove from my credit report. I've already overpaid the loan by $1,100 so adding an additional $1,790 is not happening. What can I excpect once it is charged off and goes to collections? Is there any hope for getting out from under this? I am hoping to buy a house in the next couple years and this will kill me. I'm at my wits end on this one and any advice is greatly appreciated.