Is PDL worth suing in small claims court??
Date: Thu, 08/23/2012 - 11:02
I've been in contact w/a lawyer in Dept of Corporations that's been handling my cases. He said,"Please understand that we may not get your money back. However, if we do bring an action, you will be able to use that action as evidence of unlicensed activity, in small claims court." [COLOR=black][/COLOR]
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But is it even worth it to take them to small claims court? What is all
involved and what is the process? Some are in the US but I think 2 companies are outside of the US so I know those are pointless so my money is lost with them. :(
Also multiloansource.com reported me to Lighthouse recovery and they put a debt collection on my credit report. The lawyer said I can use the info that they use once they bring action to the company to try to get the credit reporting agency to remove it. Has anyone else had to deal with this??
I have the MD Dept. of Financial Regulation working on cases for
I have the MD Dept. of Financial Regulation working on cases for me. One lender has reported on my credit report. I have been told this is in violation. I am in a just wait and see mode now on how this will work out. Hang in there!
Yes, there is a point in going into small claims court. You migh
Yes, there is a point in going into small claims court. You might get some money out of it. Although your attorney would take 40 percent of the settlement amount plus fees.
small claims
Although I don't know about the success of taking these companies to court I would suggest that you look into your state's laws regarding lawsuits against illegal loans/loan companies.
In the state of PA if you sue a company that gave an illegal loan you are able to sue for 3 times that amount of interest and fees that were paid along with attorney fees.
If the lender is offshore or tribal there is no sense suing...yo
If the lender is offshore or tribal there is no sense suing...you might get a judgement but you will have no way to collect.
^Exactly, and not only will you not have a way to collect but yo
^Exactly, and not only will you not have a way to collect but you'll be out legal fees :)
There are no legal fees in small claims court...only the filing
There are no legal fees in small claims court...only the filing fees. Attorneys are not permitted in small claims.
Court costs and legal costs are considered to different things.
Court costs and legal costs are considered to different things. Judgments and prom notes always refer to court and legal costs as seperate.
offshore
Yes but there are many payday loan companies that claim to be off shore but are not. If you can prove that they are not then someone can sue.
My Cash Now claims they are off shore but they are not. A recent class action filed against them has their address in the USA.
I would suggest that people do as much research as they can regarding the company they are dealing with. You would be surprised what you can find.