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ach... need help soon

Date: Fri, 04/30/2010 - 08:42

Submitted by kerazo
on Fri, 04/30/2010 - 08:42

Posts: 17 Credits: [Donate]

Total Replies: 4


I do not know how to...Back in 2007 I took out a internet loan from check n go installment loans., soon after taking it out I went out of work, I had to close my bank account. Then when I went back to work I pulled my credit and tried to pay off as many defaulted accounts as I could. But this loan was not there. so I forgot all about it. Now they sold my account to a collection agency and I found out because i got a call from a compant named national saying they are in charge of processing the papers to send to court for prosecution of civil and criminal against me for an nsf check. I explained that I was not aware of this and I never recieved any calls or letters from anyone. I tried to tell them I will pay them $100 per month but they refused and said no and they will take me to court and garnish my wages and charge me writing bad checks. But I never gave them a check all this was in a matter of an ach transaction. Can u help me. I have until 2 pm to contact this company back.


This collection agencies are legal companies,So they can take this kind of legal actions and I think they are taking this steps against you just because your account is delinquent for such a long time and you haven't contacted them...Anyways,try to work out a payment plan for them & explain your exact scenario So that they understand your present situation.


lrhall41

Submitted by shane rogers on Fri, 04/30/2010 - 09:04

( Posts: 33 | Credits: )


First, NEVER acknowledge or admit a debt over the phone, ask them for a dunning letter. Then, get an address to which you can send a Debt Validation letter, and send it certified mail return receipt requested. Get this debt validated before you pay them anything! Once they have signed receipt for the letter, they cannot proceed with collection activity until and unless they prove that the debt is valid and that they are entitled to collect on it. If it is, indeed, an installment loan, they are not quite the same thing as a payday loan, and is probably legal... but make sure.

Defaulting on a loan is not a criminal offense in any state. ACH is not the same as writing a check, they're not gonna get you for check fraud.

If you get confirmation that the debt and their right to collect on it are valid, then figure out a payment plan with payments you can reasonably expect to maintain, and send it to them CMRRR, along with a good faith first payment. And then stick to that payment plan! This won't keep them from suing if they are hell-bent on doing so... but if they accept the payments, then by the time it gets to court, it may be paid off or nearly so; and if they refuse the payments, their refusal is going to look bad enough on them that a judge is less likely to award them a judgement with court-ordered garnishments on your wages or bank account - after all, you have demonstrated an intent to pay without these forcible measures, haven't you?


lrhall41

Submitted by msmotr on Fri, 04/30/2010 - 12:03

( Posts: 61 | Credits: )