I followed the step by step process for dealing with illegal Payday lenders for a loan of $700 taken out in May of 2017, I stopped paying in July 2017 with a total paid of $765. I have received a collection letter for $1200 and after sending them the request for dispute they sent me a copy of the "installment loan agreement and promissory note". I don't know what to do now, am i obligated to pay this now?
Sub: #1 posted on Thu, 10/03/2019 - 00:50
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Sub: #2 posted on Fri, 10/04/2019 - 12:42
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Last year TransUnion was sued due to violating federal law of including void and uncollectible payday loans on credit reports. So, don't worry about it.
Keep checking your credit reports and if you find such listing, take the necessary steps.
Sub: #3 posted on Fri, 10/11/2019 - 01:32
Industry Expert
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Sub: #4 posted on Fri, 10/11/2019 - 06:35
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Sub: #5 posted on Mon, 10/14/2019 - 06:16
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Do one thing. Dispute the listing with credit bureau and get it removed.
Sub: #6 posted on Tue, 10/15/2019 - 22:41
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