Questions about payday loans I have
Date: Thu, 06/03/2010 - 01:40
Hello,
I have some questions on some outstanding payday loans that I have, most have been sent to collections
1. Huskhawk Group borrowed $250, paid 150 in finance charges
2. Kenwood Serv. borrowed 250, paid 150 in finance charges
These 2 have been sent to the collection agency called Credit Control, LLC(JH Portfolio Debt Equities LLC). They claim that I owe $430 on Huskhawk and $510 on Kenwood Services.
3. SSM Group borrowed 250, paid 75 in finance charges
4. M1Y Direct borrowed 250, paid zero
These 2 have been sent to William J Sokol who may or may not be a real lawyer. I have read different statements about whether this is an actual law firm. When I spoke to someone in their office they stated that I owed a combined $750.
5. JVC Processing borrowed 250, paid 75 in finance charges.
This was sent to Lombardo Davis and Goldman Firm. They claim that I owe $580. As with William J Sokol law office, I can't find whether this is an actual law firm or just a collection agency posing as a law firm.
I live in PA and I know that payday loans are prohibited and even if they were there is a cap on the amount of interest that they can charge.
All 3 of the companies that are collecting for these loans have told me that they do not need to send me debt validation. They claim that the proof is the money being deposited in my bank account. When I tried to explain the PA laws to the William Sokol company I was told that there are only 2 states where payday loans are illegal which I know is not true. He then stated they would email me a copy of the bill which they never did.
I have filed complaints with the BBB and AGs office.
I guess one question I have is any or all of these payday loan companies legal in any state?
Does me just being a PA resident make them all illegal no matter what?
How do I find out if these collection agencies are legit and actually owe the debt if they refuse to send me debt validations?
I would like to pay off the balances on the principle that I owe but I want to make sure I'm paying the company that owns the debt. If these companies are scams, I'm not saying the are, but how do I found out who really owns the debt? The original payday loan companies that I have been able to get a hold of state they are out of it since it has now been sent to collections.
Also I would like to know if there is anything else I should do in order to cover myself?
Sorry for rambling and the long email but I had taken out several payday loans over the past few years and I have paid some off but I still have some that are outstanding.
Any help you can give would be greatly appreciated.
PS-I closed my bank account almost a year ago so I'm fine on that end.
Thanks.
Jim
I have some questions on some outstanding payday loans that I have, most have been sent to collections
1. Huskhawk Group borrowed $250, paid 150 in finance charges
2. Kenwood Serv. borrowed 250, paid 150 in finance charges
These 2 have been sent to the collection agency called Credit Control, LLC(JH Portfolio Debt Equities LLC). They claim that I owe $430 on Huskhawk and $510 on Kenwood Services.
3. SSM Group borrowed 250, paid 75 in finance charges
4. M1Y Direct borrowed 250, paid zero
These 2 have been sent to William J Sokol who may or may not be a real lawyer. I have read different statements about whether this is an actual law firm. When I spoke to someone in their office they stated that I owed a combined $750.
5. JVC Processing borrowed 250, paid 75 in finance charges.
This was sent to Lombardo Davis and Goldman Firm. They claim that I owe $580. As with William J Sokol law office, I can't find whether this is an actual law firm or just a collection agency posing as a law firm.
I live in PA and I know that payday loans are prohibited and even if they were there is a cap on the amount of interest that they can charge.
All 3 of the companies that are collecting for these loans have told me that they do not need to send me debt validation. They claim that the proof is the money being deposited in my bank account. When I tried to explain the PA laws to the William Sokol company I was told that there are only 2 states where payday loans are illegal which I know is not true. He then stated they would email me a copy of the bill which they never did.
I have filed complaints with the BBB and AGs office.
I guess one question I have is any or all of these payday loan companies legal in any state?
Does me just being a PA resident make them all illegal no matter what?
How do I find out if these collection agencies are legit and actually owe the debt if they refuse to send me debt validations?
I would like to pay off the balances on the principle that I owe but I want to make sure I'm paying the company that owns the debt. If these companies are scams, I'm not saying the are, but how do I found out who really owns the debt? The original payday loan companies that I have been able to get a hold of state they are out of it since it has now been sent to collections.
Also I would like to know if there is anything else I should do in order to cover myself?
Sorry for rambling and the long email but I had taken out several payday loans over the past few years and I have paid some off but I still have some that are outstanding.
Any help you can give would be greatly appreciated.
PS-I closed my bank account almost a year ago so I'm fine on that end.
Thanks.
Jim
If they refuse to send you validation, don't pay them. Whether
If they refuse to send you validation, don't pay them.
Whether or not they are real lawyers, when they are collecting debt as a third party collector, they are required to abide by the FDCPA guidelines, which says that it is the right of the customer to ask for validation from the collector and the collector can't continue with the collection process till they satisfy the validation request of the customer.
You may search the site to read more about your lenders.
Meanwhile, even if your lenders are unlicensed in your state, you may repay the initial amount borrowed.
Quote:All 3 of the companies that are collecting for these loans
Quote:
All 3 of the companies that are collecting for these loans have told me that they do not need to send me debt validation. They claim that the proof is the money being deposited in my bank account. |
lol what do they expect, for you to prove their case? lol Stupid stupid, nah SC is correct, they are required by the FDCPA to send you a letter of collection through the mail, not email, MAIL, don't give them one red cent, tell them you will gladly see them in court because they are trying to collect on illegal debts! Also tell them you are going to file complaints against them with the FTC, BBB and your AG, and PLEASE do so. Unless you receive a letter of collection through the mail, tell them to go piss up a rope. IF you receive a letter of collection thru the mail, send them a debt validation letter certified, return receipt requested, otherwise, deal with the original lenders, via email, tell them no address means no payments. Leave the ball in their court, since the lenders are NOT legal, they are the ones who need to make the next move, which is giving you an address to make payments, and ONLY what is owed, no interest and no fees should be included! CLICK HERE to find out how to deal with illegal lenders.
