Posts Tagged ‘Internet payday loans’

Five Basic Things You Must Do To Deal With Illegal Debt Collection Calls Regarding Internet Payday Loans

Internet payday loans can be very risky, not just because they are very expensive but also because it can sometimes turn out to be very difficult to get out of it even if you repay the loan. It has been a very common practice among many unscrupulous payday lenders to give illegal debt collection calls to consumers even in cases where the payments have already been made. Since online lenders are hard to locate, people often get confused and worried on how to deal with them. The first thing that is very important for you to understand is that the laws are always on your side. Always remember, your state laws will be applicable regardless of where the lender is located; where you are located matters, not where the lender is. So, you can always file a complaint against such lenders with your state authority if they are harassing you. Besides that, you must also do these five basic things in this regard.

Ask Them To Provide Proof Of Loan

If you are getting illegal collection calls for the repayment of Internet payday loans that you have already paid, you must first ask them to provide you the proof that you still owe the debts. It should be a written proof, in the form of certain documents, and sent to you via postal mails. Some debt collectors may try to fool you by saying that the responsibility for proof is yours.

Ask For Their Contact Details

Ask the debt collector to provide you the name and the physical address of both the lender and the debt collection agency. Once you get the details, send them a “cease and desist” letter, where you should specifically mention that you no more owe those debts and that you want them to stop calling you. Make sure you keep a copy of that letter to yourself. It will be better if you attach some proofs of payment along with the letter. Illegal debt collectors will never provide you their contact details because this way they can easily be tracked down. Besides that, they also fear that you may file a lawsuit against them for the violation of the Fair Debt Collection Act. It means when you ask them to provide their contact details, they will get the hint that you are an informed and educated consumer and that you are well aware of what your legal rights are. Eventually, they are very much likely to stop harassing you with illegal collection calls regarding Internet payday loans that you already have paid.

Record The Phone Calls

Here, it is important to note that recording phone calls without informing the caller is not legal in all states. Many states require you to get permission from the caller before you record the call. But, this permission must not be in writing; just informing the caller that you are recording the call is enough to fulfill the legal requirement regarding permission. If the caller continues the conversation even after getting informed that the call is being recorded, it is legally considered as his/her permission. This is a strong step that guarantees results. The illegal debt collectors are likely to stop making harassing collection calls to you anymore.

Do Not Pay Attention To Legal Threats

If you know that you have already paid certain Internet payday loans and that the collection calls are completely illegal, you do not need to get worried when the caller threats you with legal actions. It is a common practice for such illegal debt collectors to terrify consumers by saying that they must provide their credit card details or other crucial financial information immediately otherwise they will be sent to jail. Always remember, non-payment of debt is not a criminal activity; it is a civil matter. It is an illegal threat even if you really owe some debts. In your case, the collection calls are illegal at the first place and then the callers are giving you illegal threats. So, you need not get terrified with such threats. Just tell them that you know about your legal rights, and that if they do not stop such calls, you are going to file a complaint against them.

You must also know that many illegal debt collectors often use official sounding names, such as “Financial Crime Division” or other such names. You are strongly recommended not get intimidated with such names. If you have already paid Internet payday loans and still getting collection calls, it only means that you are being scammed. File a legal complaint immediately if the calls do not stop even after using the above five steps. You can even file a FIR with the police.

Custom Search

Basic Things You Must Know About Bankruptcy Dismissal

When you file a petition for bankruptcy and the court rejects your petition on certain grounds, it is legally termed as bankruptcy dismissal. Dismissal means your case is officially closed and that the court will make no further rulings on your case. Some of the most common reasons why a petition is...

Credit Repair

Building Credit With No Credit

When it comes to building credit with no credit, there are several online canadian pharmacy factors that you need to take into account. Just because you do not have any credit history at present, it does not mean you will never have one. No one is born with a readymade credit history. You have to gi...

Credit Repair

A Loan To Defeat All Loans Debt Relief Loan
Payday loans fax-free payday loans and instant online payday loans are everywhere be it on the Internet newspapers or television. Today when the economy is in turmoil these loans look like the saving gra... Read more

Tips On How To Consolidate Payday Loan Debt
You may need to consolidate payday loan debt when you are caught in the middle of a financial crisis arising out of your inability to repay multiple loans. Debt consolidation loan allows you to consolidate all... Read more

Do Not Put Up With Debt Collectors Harassment
There was an emergency and the need arose to take a payday loan. It seemed to be the fastest and the best option available then. However now the debt collectors harassment is horrendous. The fact that using t... Read more

Consolidate Payday Advances To Save Yourself
Payday advances are loans taken against a persons paycheck. They have a way of digging into your paycheck month after month. They usually have exorbitant interest rates though the sites offering the services... Read more

Can I Consolidate Payday Loans
Can I consolidate payday loans is a question you are sure to ask yourself when faced with a trying financial situation. When payment of loans becomes difficult it is possible to consolidate and replace many... Read more

What are the pros and cons of debt consolidation?