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Camosun financial

Date: Fri, 07/15/2011 - 20:12

Submitted by fandallas
on Fri, 07/15/2011 - 20:12

Posts: 7 Credits: [Donate]

Total Replies: 3


I have a oustading loan with camosun are they legal in california. I have been sending it via money gram what I owe when I can. What kind of actions can they take against me. They threaten to go to the next level, what is that a 3rd party collection agency? They have been blocked from access to my acct as I dont agree with their payments.


Payday lending is legal in California. I will suggest you to contact the California Department of Corporations and find out whether or not Camosun Financial is licensed to operate in your state. If not, then they can???t take any legal actions against you. You may pay them the principal balance and get rid of the debts. However, if they are licensed, then you will be liable for paying them the debts in full. Or else, they may charge off the account and assign it to a collection agency. The collection agency will in turn contact you and may harass you for payments.


lrhall41

Submitted by Anna Sweeting on Fri, 07/15/2011 - 21:09

( Posts: 1827 | Credits: )


Hi,

Welcome to the Forums..!!

Well, yes payday loans are legal in California and therefore you're liable to pay both the interest rate and the principal amount on them. If you default on the payments, the lenders will probably pass on the accounts to a collection agency who will then chase you for the payments.

Instead of being harassed by the collection agents, it is always better to repay the loans by taking help of some debt help options. You can either consolidate your payday loans or settle them. Remember, that your payday loan lenders can never threaten criminal prosecution as a method of collecting a past due account.


lrhall41

Submitted by amy.nickson1986 on Fri, 07/15/2011 - 21:23

( Posts: 72 | Credits: )