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MyPayDayLoan.com

Date: Wed, 12/23/2009 - 08:57

Submitted by anonymous
on Wed, 12/23/2009 - 08:57

Posts: 202330 Credits: [Donate]

Total Replies: 2


I live in the state of TN and got a loan with this company. I closed my bank account and defaulted with them on 12-18-09. I have started receiving calls and emails today and they are telling me my check writing privilages will be messed up because they have reported my default and that I can be prosecuted because a bad ACH is the same as a bad check.

Should I be worried?

I wrote them back and explained they are illegal in my state and that I would be happy to pay the balance remaining on the principle if they would give me an address to send a money order.

Thanks.


How much was borrowed/paid back? If you are 100% they are illegal, than you have nothing to worry about.. they cannot do anything to you legally. once the principal is paid (as you said, in money order), than you will be okay.
Even if the loan was legal, debt is a civil matter, not a criminal one. There are stickys here concerning closing bank accounts and about dealing with illegal lenders, which should help you. let us know if you need more infromation :)


lrhall41

Submitted by bea2ls on Wed, 12/23/2009 - 12:45

( Posts: 3840 | Credits: )


Click the link below to read your payday loan laws:
paydayloaninfo.org/stateinfo/TN.asp
TN allows an internet based payday loan company to lend legally as long as it is licensed in any US State, so make sure the lender in question is not licensed ANYwhere in the U.S. before you jump to conclusions.


lrhall41

Submitted by Shazzers on Wed, 12/23/2009 - 14:31

( Posts: 17344 | Credits: )