Web Payday Loan

Hello,

I obtained a payday loan (my first and last) in 2007. I paid this company $1520.00 during a length of 6 months for a loan of $500.00. After a while, I discontinued payments through my banking institution.

I received a phone call from the collection company (Check Recovery Services) stipulating that they working with an attorney to prevent a lean on my home for non-payment of this loan. I explained that this loan has been paid and proof of payment can be provided. They proceeded to explain that they are not able to use such information (ie bank statements) because it may be fraudulent information. They stated that if payment in the amount of $757.50 is not made they will proceed to place a lean on my home through my county clerks office.

I used the advice posted here and submitted complaints to the FTC, BBB, and written C&D letters to the collection agency and the pd company via return receipt, certified mail. I also put a block on both companies through my financial institution (Citibank) from withdrawing any funds from my account. Thus far it has worked and my financial institution has had a close eye on my account ever since.

I recently received a letter from the pdl company stating the following:

"We at Web payday have reviewed your letter dated May 14, 2009 and the complaint attached thereto. Web Payday strive to assist consumers with their short term cash needs and regrets that Ms. Rodriguez was disappointed with her experience.

Ms. Rodriguez's loan was made pursuant to Web Payday's license in its home state of Utah under Title 70C of Utah Consumer Credit Code. Ms. Rodriguez received documents in compliance with Utah and federal law at the time of her loan fully describing how the finance fees are applied and her three repayment options, as well as the frequency with which they are applied. Contained therein is a description of how the fees and principal were applied to her loan, as well as the loan renewal and repayment process. All information regarding the nature of the devt and applicable finances fees is enclosed therein, and we would encourage Ms. Rodriguez to visit our website if she is in need of another copy. Ms. Rodriguez agreed to the terms of this agreement, including the applicability of Utah (Not New Jersey) law to the transaction, with electronic signatures, and she also committed to binding arbitration to resolve any disputes arising out of the loan transaction. In June 2008, Ms. Rodriguez was delinquent in her payment obligations, and her account was sold to a third party collection company. Web Payday assumes no responsibility for the actions of this company in their attempts to collect the debt she owes. and Web Payday has no further ownership of or interest in her account. Any additional concerns should be addressed to the debt collection company.

Thank you for the opportunity to clarify this matter and address the customer's concern.

Sincerely,
Web Payday"

I am not sure which angle to take at this point in time. I dont want this collection company to put a lean on my home but times are hard and paying $757.50 right now is near impossible.

Any advice would be greatly appreciated at this time. This is really hard to grasp right now and don't want to jeopardize my home for something that was paid 3 times over.

Thank you...