PayDay Loan colections

[Scott_Meier]

I have defaulted on two payday loans (I know I should have never gotten them in the first place). I am receiving harassing calls from a someplace calling itself the "Financial Investigation Division" On the form I asked them to e-mail me, they are listed as "ACS" I have offered a written arrangement to pay the debt, but they still make threats of criminal charges and arrest; charges they have repeated when they have called the references on the loan apps. They refuse to accept my arrangement. I can deal with being sued by them (one is for 275, the other is around 800), even though I am still going to try to pay them. As I read the Fair Credit Collection Act, they can't have me locked up, can they???

 

[mightymoose]

Don't worry about criminal charges or arrest, it won't happen and it just makes them look silly. They are trying to scare you into paying.
They are not obligated to accept your terms for repayment. Your delinquent in your account and already have terms to abide by.
Do yourself a favor and do not speak with them on the phone. Conduct everything through the mail so everything is documented.

 

[tpajet]

Brush up on the following:

Fair Debt Collections Practices Act FAQ's

Fair Debt Collections Practices Act PDF


If they do not truly intend to have you arrested then they are in violation. And increasingly there are debt collectors who are blatantly violating the law.