Comments on: I receive a call from Ace check cashing collection dept re my default payday loan. They told me I had to pay?

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By: plcweaver1

plcweaver1 — Mon, 09 Feb 2009 15:39:31 +0000

FIrst off you don’t go jail for bad debt. Second off why didn’t you pay them back? Third off set up a payment plan with collection company.

By: laughter_every_day

laughter_every_day — Sun, 08 Feb 2009 09:31:12 +0000

They cannot issue a warrant. There is no private criminal prosecution in the US. Instead, prosecution decisions such as whether to initiate a charge or seek a warrant from a court are made by the DA. In my county the DA refuses to prosecute bad check charges from those places that knowingly take bad checks as part of their business. Many DAs have the same policy. Of course they can start civil proceedings, to sue you for the money, but they won’t because the interest on a judgment is only about 10 percent while they charge much much more than that.

By: Phil R

Phil R — Fri, 06 Feb 2009 02:15:11 +0000

The collection company is subject to regulation by the Fair Debt Collection Practices Act. It is illegal under this act to threaten the arrest of a debtor for refusing to pay a debt, valid or not.

I hope that you got the name of the collector who called you, and made a note of the date and time you were contacted, as well as you have the address and telephone number of the collection company.

Take the information you just provided, and consult an attorney in your area who deals with debtor’s rights. You *may* have a cause of action against the collection company for violation of this act. If you prove that they are doing it to others, then you have have some class action matters to discuss.

For a referral to an attorney, contact your local or state bar association.

By: wizjp

wizjp — Thu, 05 Feb 2009 01:59:36 +0000

Pay them; or talk to the county atty to see if there is any relief for payday lenders as predatory in your county

By: jmanoh

jmanoh — Mon, 02 Feb 2009 16:21:15 +0000

Do you have $540? That would seem the simplest way to handle this. If not talk to them about setting up a payment schedule that you can live with and will call off the warrant. If they ‘re insisting on the whole amount, talk to a lawyer.

By: Outrageous.

Outrageous. — Mon, 02 Feb 2009 06:20:08 +0000

Did you deliberately write a check that bounced? Or did you have the money at the time but then something happened that caused the check to bounce? Or did you deliberately not pay them, period?

If they’re going to take such extreme measures towards you for such a small amount of money, I’d invest in a lawyer (or at least go speak to one). I’d speak with one before you pay them, especially if the money you’d be using to pay them back has better uses - such as food and rent.

By: IG64

IG64 — Fri, 30 Jan 2009 23:45:14 +0000

If you paid someone with a check then you are liable for the amount of that check…. If you wrote it for 540 then you are liable for 540… of course one has to wonder why anyone would be so stupid as to give someone a check for 540 and accept only 200 in return…

By: fangtaiyang

fangtaiyang — Tue, 27 Jan 2009 19:30:54 +0000

They cannot prosecute you for a debt, but if you made false statements to get that loan, you could be charged with fraud. The objective is to get their money back. There should be some way to come to an arrangement to pay back the loan.

By: Hillary Lite BOO HOO HOO

Hillary Lite BOO HOO HOO — Sun, 25 Jan 2009 13:36:06 +0000

Usually on a payday loan you are required to give them a post dated check, if you did not have funds to cover the check on the date then you committed check fraud and you would be wise to pay, they will prosecute.!!