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Help with PDL/Installment loan in SC from First Bank of Delaware

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I had to stop paying on this installment/pdl last year with First Bank of Delaware. My balance is like $778. I just started receiving phone calls from this collection agency they have (Turning Point Capital) threatening me that I am going to be prosecuted for bad check fraud. I had to cancel my bank account right after stopping payments to them because I was a victim of identity theft. They are also saying my wages can be garnished...is this true? I am a single parent and have a very ill parent I am caring for and just dont have the $ they are requiring to settle. What are my options here? Can they have me arrested?

HELP!!!!




You need to contact the South Carolina State Board of Financial Institutions in order to find out whether or not First Bank of Delaware is legal to operate in your state. If they are not legal, then no one can force you to pay them more than the principal balance. Unless, they are legal in your state, no one can take any legal actions against you. So, the question of wage garnishment won't arise. Also, you should contact the collection agency and ask them to validate the debt. If they cannot validate the debt, then you shouldn't pay them anything.

Sub: #1 posted on Fri, 09/23/2011 - 20:29

Anna Sweeting Anna Sweeting

(Posts: 1827 | Credits: )

The contact detail of the South Carolina State Board of Financial Institutions is as follows:
# Address - Consumer Finance Division, P.O. Box 11905 Columbia SC 29211
# Phone - (803) 734-2020
# Fax - (803) 734-2025

I hope the following link may help you in this regard:
http://www.debtconsolidationcare.com/letters/sample6.html

Sub: #2 posted on Sat, 09/24/2011 - 01:10

sally.nachelle sally.nachelle

(Posts: 275 | Credits: )

Hi,

It is good that you closed down your bank account otherwise they might have debited money from your account. If this PDL is illegal then there is nothing to worry as you can just pay the principal amount and be done with it.

However, if it is not then I would suggest you to take professional help for debt settlement and quote the amount that you can pay. Since the settlement companies are not allowed to charge upfront fees, you won''t find the process too costly.

Sub: #3 posted on Sat, 09/24/2011 - 05:14

scarlett.brooks13 scarlett.brooks13

(Posts: 46 | Credits: )


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