payday loan trap

by evette
(shreveport Louisiana )

If my payday loan go into collection, can I be sued for none payment

Comments for payday loan trap

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Aug 17, 2012
payday loan trap
by: Debtcollectionanswers.com

Yes, you would be at risk of being sued and if the collector wins the lawsuit, your wages could be garnished, money could be seized from your bank account, a lien could be put on an asset you own or you could have an asset seized.

If you are concerned about a lawsuit, my best advice is to schedule a free initial evaluation with a bankruptcy attorney. Filing for bankruptcy would stop the lawsuit and give you time to figure out what to do about your situation. It would also wipe out debt. However, bankruptcy is complicated so you really need to talk with a bankruptcy attorney.

Sep 24, 2012
More info please!
by: Anonymous

I moved out of state since I took the loan. Can it follow me?

Reply from DebtCollectionAnswers.com:

Typically debt collectors can collect from consumers in other states. But they may have to be licensed in your new state of residence. Your state's consumer affairs department/Attorney General's office can likely help you find out if that's the case.

Mar 18, 2013
payday loan legal
by: Anonymous


There is no law that says you must pay what you owe over two years. On the other hand however, the lender is not legally obligated to let you take as long as you want to pay off your debt. Ideally, the two of you can reach a compromise.

Do you have to pay a loan over 2 years. Now the collection company is asking for the money. They say the courts may be involved if I don't pay. They are saying that they will suspend your license is that true.

Jan 31, 2015
Partial payment
by: Anonymous

Can I pay only what I can afford each month?

Reply from DebtCollectionAnswers.com

Are you asking whether a collector must accept what you can afford to pay? If so, there is no obligation that they do so.

Mar 31, 2015
wage garnishment bank levies
by: Anonymous

Do collection agencies have to go to court to levy my bank account and garnish wages?

Reply from DebtCollectionAnswers.com:

Yes, typically they must successfully sue you first. There are some situations where you owe federal loans (such as SBA loans or student loans) where your tax refund may be intercepted or some Social Security income may be garnished. In addition if you owe a debt to the same financial institution where you have checking or savings they may be able to offset your funds to pay the debt.

Sep 29, 2015
Law Suit
by: Anonymous

I had 2 payday loans in 2010, also in that year I filed bankrupcy. Just recently I received a call and was being told I am being sued for both loans. This person was rude and threatening. I am retired military and received SSI due to service connected injury. This person said they can go after my property, but do not own anything. They are proceeding with this lawsuit, was that last I heard. I intend on going to court when it is scheduled. Also, I was told it was bank fraud?

Reply from DebtCollectionAnswers.com

It sounds like a scam. These debt collection scams are very common and they rely on consumers being scared into paying. Your approach sounds perfect. Tell them you look forward to receiving the legal notice of the lawsuit and that you will see them in court. (We predict that you won't get served.)

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