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Pay Day Lenders

Date: Fri, 05/04/2012 - 08:46

Submitted by anonymous
on Fri, 05/04/2012 - 08:46

Posts: 202330 Credits: [Donate]

Total Replies: 6


How can you tell if a lender is authorized to do business in your state. Also, how do you handle a lender that is authorized in your state, but has threatened you (and called your employer) with arrest for a "bad check?"


What happened was the checking account they were using to make the withdrawals was closed by my bank for excessive transfers (savings to checking). I let them know that I didn't have a valid checking account and asked if there was some other way to make the payments. They insisted it would have to be a checking account. Since I no longer have one, they didn't get paid. I did make 2 payments (58.28 each; the loan was only for $300). When they contacted me at work about having me arrested, I paid another $86, and they debited my check card the next day for $150. They expect me to pay them $150 each paycheck until the end of July ($900 total). I wanted to find out if I had any recourse, and if I send them the letter referenced in the blog will I have any reprecussions.


lrhall41

Submitted by on Fri, 05/04/2012 - 10:38

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