PaydayMax Legal in MI?? Collections??
Date: Fri, 04/30/2010 - 14:22
After I set up payment from my savings account (I no longer have a checking account), I started researching this company, and do not see where they are licensed to lend into Michigan. Can someone confirm that for me??
Anyway, I didn't let the debit go through, and it got returned to the collection agency. Now I get a call from THEM, saying that they are going to pursue legal action against me for the 'bounced check' (it wasn't a check, it was a debit, and not even from a checking account). I told them that I thought PaydayMax was lending illegally into my state, and that I was planning to file bankruptcy anyway. They said they didn't care, that the bankruptcy would take care of PaydayMax, but I would still owe the collection agency for the bounced check, and that the bounced check couldn't be included in my bankruptcy. I told them my attorney told me it could, and that he didn't think PaydayMax was legal either - so they didn't have a case of collection against me at all. The collection agency's response was that I could either pay up or they'd send me to ChexSystems. I told them to go ahead and send me to ChexSystems, and the woman said she'd do that, wished me a good day and hung up.
Whew..sorry, that was long. I'm not denying I took out a loan with them, but the fact that they may be lending illegally is the issue. I'm willing to pay what I owe, but not $400+ more than what I owe.
So I guess I have a few questions:
-first and foremost, is PaydayMax legal in MI?
-PaydayMax now shows up on my credit report (I checked) - if they're NOT legal in MI, how do I get them removed?
-can the collection agency do anything (legally) about the fact that my debit from my savings account was returned, other than report me to ChexSystems?
Sorry for the long post, I'm just worried about this now - this is the last of my payday loans that I am battling - I've been able to pay off or overcome all the others with your help here (thanks!). This one seems to be a real mess.
Is this a Online PDLS or Store PDL? if its a Online PLD then mos
Is this a Online PDLS or Store PDL? if its a Online PLD then most of them are not legal. you can about more this here:
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/stateinfo.asp [/COLOR][/LEFT][/FONT][/COLOR]
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/legal.asp [/COLOR][/LEFT][/FONT][/COLOR]
If you have taken any loan from them and if they are legal then oly they can report to Credit Bureau. But if they are not legal and if any not borrowed any thing then send a Data Validation Form to validate whether you have taken any loan or not.
PAYDAYMAX is not located in this country.keep in mind that anyth
PAYDAYMAX is not located in this country.keep in mind that anything in fees debited goes toward the loan.th first of this year around huh?so 300 was borrowed.i'm guessing the amount debited before default exceeded the principle.if so.you owe this illegal pdl nothing.
After doing a search in Michigan's consumer finance licensees, P
After doing a search in Michigan's consumer finance licensees, PayDayMax is not coming up. So I will have to agree with your lawyer in saying that they're not legal.
In order to get them removed from your credit report, send a letter to credit reporting agency, telling them the loan is not legal and ask them to remove it from your report.
A collection agency only has the rights the original creditor has. If the creditor cannot collect from you then the collection agency can't either. Your lawyer should be able to give you more information.
Thank you for the information - how the heck does PaydayMax get
Thank you for the information - how the heck does PaydayMax get away with lending like this, if they're illegal? Their ads are all over the darn place on the web. No wonder they sucker so many people into their loans.
My only other concern is this collection agency and their claim that I've bounced a check with them and that they can take action against me. Is that true, considering that the loan was issued illegally? I mean....if the loan was illegal in the first place, and I didn't technically write a "check" (it was a debit out of my savings account), isn't the collection agency's claim against me null and void?
Quote:Originally Posted by AnonymousThank you for the informatio
Quote:
Originally Posted by Anonymous Thank you for the information - how the heck does PaydayMax get away with lending like this, if they're illegal? Their ads are all over the darn place on the web. No wonder they sucker so many people into their loans. My only other concern is this collection agency and their claim that I've bounced a check with them and that they can take action against me. Is that true, considering that the loan was issued illegally? I mean....if the loan was illegal in the first place, and I didn't technically write a "check" (it was a debit out of my savings account), isn't the collection agency's claim against me null and void? |
What is the name of this collection agency, I can almost guarantee you they are NOT legit. If they are collecting for an unlicensed lender that speaks volumes. Tell them the next time they call they have 5 days after their first initial contact with you to send you a dunning letter (letter of collection) thru the mail, that is a federal law (FDCPA), if they are any type of legit collection agency they will know this already. Also, a letter of collection via email is NOT acceptable.
Thanks Shazzers! They have not called back after their call thr
Thanks Shazzers! They have not called back after their call threatening to report me to Chexsystems. Chexsystems doesn't scare me at this point. I shut down my checking account due to these clowns debiting me left and right long ago (advice received here) to regain control of my money.
These online pdl's are very smart, they know that they cannot co
These online pdl's are very smart, they know that they cannot collect money from you directly, if you are not willing to pay them.So, they often sell your file to external collection agencies who in turn can be legit and can report to the credit bureau. So you need to tell us what is the collection agencies name showing up in your credit report.
The collection agency is NOT on my credit report - Paydaymax is.
The collection agency is NOT on my credit report - Paydaymax is. I'm just wondering how Paydaymax can report to the credit bureaus if they are not legal??
Ok, back again. I have told every collection agency that I am
Ok, back again.
I have told every collection agency that I am claiming bankruptcy when they call in regards to Paydaymax. I have now been contacted by THREE different collection agencies regarding that loan.
I have contacted Paydaymax to give them my attorney's info - they referred me to a collection agency, saying they no longer had my file. I contacted THAT agency, they sent me to another. And so on and so on.
Yesterday, I was contacted at my workplace by a Credit Protection Agency (or association?), which...guess what...was another collection agency trying to collect on behalf of Paydaymax. I advised THEM, just as I had all the others, that I was filing bankruptcy, gave them my attorney's info, and they said they'd call my attorney. But I also advised them that I know for a fact that Paydaymax is lending illegally in my state, and that my attorney had told me that Paydaymax (or their collection agencies) weren't likely to do anything towards claiming anything on the BK, because they would then be guilty of fraud in a FEDERAL CASE. Not something an illegal lender cares to do, I'm sure.
Just a heads up to anyone dealing with Paydaymax. They are still showing on my credit report, so I'm going to take that up with them via letter, and will be copying in my state's attorney general's office, as well as the BBB.
Well, the problem here is; they aren't licensed to lend, whcih m
Well, the problem here is; they aren't licensed to lend, whcih means they didn't follow the law to begin with, so they aren't about to follow the laws now by NOT continuing to try and contact and harass you, they aren't even located in the U.S. so they do not care about laws. You really should file complaints against them with your AG, BBB and the FTC.