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PayDay Loans

Date: Wed, 08/06/2008 - 08:17
Submitted by tamarathaxton on Wed, 08/06/2008 - 08:17
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I was recently called by---although, they called themselves mediators. Anyway, the guy"Mr.Clark" told me that if I I had committed a serious offense for "writing" a check that I did not pay. He told me that when we hung up the phone that the original debtors were going to make an example out of me and have me arrested at my home or office. I asked to speak with Mr. Clarks boss and he refused and told me to find myself a good lawyer before hanging up. Can I be arrested? I owe two payday loans to two different companies. When I asked Mr. Clark why this was the first time I was hearing from him (the debt was a year old) he said according to the information I signed virtually since it was an online loan, they were not required to reach out to me. I just want to make sure that I cannot go to jail. I have no problems paying the debt back, but he told me I had to pay at least 488 dollars in a matter of two days and I didn't have it. I also live in NY and I am not sure what the laws are regarding my going to jail for this.


Hey there....so sorry you had to get such a nasty message from Mr. Clark. You can read several examples of how people deal with these threats over on the Pay Day Loan board...the threats keep on coming even though they aren't valid. You can not go to jail...no one will show up at your home or your office...especially for an internet loan. Which company was this loan through and how much have you paid already? More often than not...you've probably paid back the principal amount and then some. He won't give you to his boss...he won't give you his real name...he won't even tell you his office address. Conversations with him will be filled with threats but rest assured that they aren't valid.


Submitted by debrag_25 on Wed, 08/06/2008 - 08:22

debrag_25

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Before you do that - make sure you take a look at what other people have done when dealing with payday loans companies. There is some excellent advise here and going about things following their instructions can help to save you a lot of time, money and stress. There are specific steps to follow - things like debt validation letters, cease and desist letters, etc. Just talking to them outright on the phone may end up hurting you when you aren't sure how to play the game. They can throw threats at you that you aren't sure of and get cornered into giving your banking information, etc.

Take a deep breath - I know you'll get this all worked out :)

PS - Try putting your specific companies into the search box at the top of the page....I bet there are stories specifically related to the companies you are dealing with and may be able to give you insite.


Submitted by debrag_25 on Wed, 08/06/2008 - 08:42

debrag_25

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Tamara, Internet pdls are prohibited in NY. They can not do a thing to you. In addition, MCN, is overseas. They are notorious for threatening jail. Do not be afraid of them. They will not come and get you becuase they do not have a legal leg to stand on. They are not licensed in your state to do business, in fact, as I said they are prohibited from doing business so they are operating illegally thus thier threats are empty. What are they going to do, extradite you overseas over 400 or 500 dollars. :lol: ...would never hold up in court here. Send PDM a request for validation of this debt and be done with them.


Submitted by RoxyNY on Wed, 08/06/2008 - 16:43

RoxyNY

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