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Expert: - 10/2/2010


Question
i unfortunately fell into the payday loan pitfall.  it started out with one loan, paid off, and took another.  i eventually had 4 loans and i was unable to pay them back.  i closed my bank account with nothing else for me to do.
what kind of legal action can they pursue in the state of florida.

Answer
They can not take any criminal action against you under Florida law.  

What payday loan company is it? Some are not licensed and can only make threats.                                                             Payday lenders must be licensed to lend in your state:                                                                 
http://www.paydayloaninfo.org/state_detail.cfm?id=FL                                                                      
Below contains a link for the licensee data base for FL.:                                                                  
http://www.flofr.com/Downloads/licensecheck.htm

They can call and make collection efforts as well as they may can take you to court, get judgements and garnish your wages.

If the loans are have low balances, try to get a consolidation loan and pay them off and NEVER get caught in their web again.

I wish you well with this.

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Ray A Miller

Expertise

I am qualified to answer questions on the following subjects: FDCPA, FCRA and HIPAA as well as medical collections, general collections and collection agency related issues. I trained these subjects at a nationwide collection agency and customer service call center and audited around 150 representatives for compliance to the laws. I have been in the Collections Industry for over 30 years. I feel that everyone deserves to be treated fairly and with compassion and that is the way I trained collectors. Even though I worked for a Collection Agency, I get great satisfaction in helping those who have been mistreated or in need of help with these confusing issues.

Experience

I was the Compliance Administrator with a nationwide collection agency and customer service call center-I have trained hundreds of collectors on the above referenced topics. I have been in the medical collections industry for over twenty years and research these topics on a daily basis.

Organizations
ACA International

Education/Credentials
Some college ACA Certified Collection Specialist

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