Payday Loans

by LeeAnna
(Vancouver WA)

About 2 and a half or 3 yrs ago, I defaulted on a payday loan. Today I had a phone call from CRA Collectors about that and they said if I don't pay $350 by tomorrow they are taking legal action?

I have not been contacted by them or anyone about the defaulted payday loan until today. They also said i have until tomorrow to enter into a payment agreement totaling $650. I told them i wanted information on this acct so i can review it and make sure it is correct and i was told they would not and did not have to provide me with that information. I'm wondering if this is correct? I am living in Washington state.

Comments for Payday Loans

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Jan 28, 2011
 collection call for payday loan
by: DebtCollectionAnswers.com

LeeAnna,

There have been a lot of scammers posing as collection companies going after defaulted payday loans. So our first concern is whether or this collection agency is even legitimate. However, since you didn't default, it is possible they are legitimately trying to collect your payday loan debt.

Third-party debt collectors are required to follow the federal Fair Debt Collection Practices Act. Among other things, that law requires them to send written notice of the debt within five days of their initial contact with you. And it also gives you the right to request verification of the debt. So we are very concerned by the fact that this collection agency appears to be telling you that they do not have to send you verification of the debt as required.

We would really urge you to talk with a consumer law attorney. If the debt collection agency is breaking the law, you may be able to sue them and you may be entitled to damages plus your attorney's fees if you're successful.

You can contact a local consumer law attorney with experience in debt collection cases. Find out how to get FREE or low cost legal advice about debt collection from a consumer law attorney here.

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