I've been threatened with an arrest warrant

Hi

Welcome to the forums.

Ask the company to validate the debt before you start paying your debt. There might be a law of " The Deferred Deposit Loan Act" in your state. You can check if this law exists in your state. This law restricts the companies from charging too many fees on your total debt. You can confirm it from the state attorney general office.

Now, they won't take any legal actions against you as long as you are willing to pay the debt. Although, they might report to the credit bureaus and hurt your credit negatively but usually they don't do so. Send them a letter along with your payment so that they don't have anything to do but to accept it.

To prevent hurting your credit further, you need to settle this debt as soon as possible and avoid payday loans completely.

Regards
Roxette

Thank you for the reply. They're demanding an amount I simply don't have in full. Are you suggesting that I send what I can now and then negotiate further? I would suspect any payment be sent in certified funds and via certified mail? The letter should state my intentions?

Hi Fugitive

If you send your money certified and if they cash it, you will understand that they have accepted your payment plan.

Write your letter clearly, specifying your interests.

Do let me know the outcome.

Thanks
Roxette

I saw my credit report and found that one particular account is reported by several agencies. I am thinking of paying it off. Whom shall I pay? Also, will it be shown as 'Paid' once I have paid it?

I appreciate the advice in this forum and will like to hear from you soon.

Thanks
Joshua Tree

Hi

Welcome to the forums.

It is true that a particular account can be reported by several agencies. Ironical part is that every collection agency has the legal right to add a collection trade line in your credit file.

No matter, whenever you pay the said debt and to the agency that is holding it, it will be ultimately shown as ???Paid' in your credit report. This will be eventually viewed by your creditors in a positive way.

By the way, thanks for appreciating the advice in this forum. We, as a community are dedicated in solving your debt related problems at any point of time.

Regards
Roxette

How can I get free access to my credit report can't I go on line and get it?And what is the web address that I go to recieve my credit report does anyone know?

Yes, you can get your credit reports online. The FTC online form can be used to obtain the credit report.

Have a look at this link

http://forums.debtcc.com/forums/about2918.html

Roxette

annualcreditreport.com is the website that you can go to get a copy of your credit report from all 3 of the credit agencies.This is free.

Can you go to jail for unpaid payday loans

Quote:

No, you can not go to jail. Roxette is correct , a creditor can file a civil suit against you to obtain judgement, but this is usually the last resort and usually only when all attempts to collect the debt have failed. That is where the collection agencies come in to play.

I done something stupid. I received an "instant loan" check in the mail last September. It was for $2,675.00 from a local credit company. It said that it was a real check and all I had to do was take it to the bank and cash it. Upon doing so, I agreed to pay back the $2,675 in monthly installments with 19% interest added on. This was stupid on my part but I had just been laid off from work and I really needed this money. I found new work, but just make enough to get by. My mom's sick and I've been buying alot of her medicine. So, I haven't made a single payment yet - not because I didn't want to but because I've just not had the money. I've ignored all their requests for payment and they sent me a letter today saying that they are considering legal action against me. I still don't have the money to make these payments. I want to make them but I just can't because my mom's medicine is so expensive. I'm 6 months behind with them. They have my name, address, and phone number but they don't have my social security number or know where I work. With this information, what is the most extreme thing they could do to me if I still don't pay?

It seems the loan is still with the original lender. They can report it charged-off and appoint a collection agency to collect the money on their behalf. Or they can sell the account to a debt buyer and the buyer will be contacting you for this debt in future.

collection agencies or debt buyers might call your home and your work all the day. They can call your mother despite of her illness. They might call your friends, relatives and neighbors if they have the number. However, they are not supposed to do all these things as per as fdcpa is concerned.

If all the efforts go in vain, your creditor might bring legal action against you.

I understand your problem. I would suggest you contacting them and discuss your problem clearly. Mention that you have to buy medicines for your mother; creditors consider these cases sometime. Or go for consolidation.

Its not true!!!! They cannot arrest you!

Legal action does not always mean to be arrested. Creditor can file lawsuit against the debtor in civil court for not paying the debt, which is also legal action. Obviously this is the most extreme thing they can do. See what happened to another member. A front store lender has sued the person and refused payment arrangements-

http://www.debtconsolidationcare.com/forums/civil-summon.html

received a payday advance in 2005, made payments, now 4 years later they're calling my job, with threats of arrest and they'd issue a warrant for my arrest if I didn't pay, I asked them not to call me at work and to send the money I owe she I may check the validity of it, they said I am refusing to pay and hung up, on my day off I found out they called my supervisor to ask for the fax number they were at the court house to file a warrant for my arrest, she told them they were a bunch a crooks and not to call my place of employment and they hung up, how can I stop this once and for all, this was a $300 dollar loan and I know I paid at least $91 on it back in 2005.

please try to remember how much you paid.if made more than one.then you paid more than 91.00.also this sounds like a scam to me.demand something in writing from them then hang up.chances are this was an internet pdl and they sold your info to this bottomfeeding bunch of humanoids.if they won't give something in writing then i wouldn't even talk to them.again,hang up if they call as all they can do is threaten stupidly.