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Question
I have been contacted by someone from a collection agency telling me I took out a payday loan in 2009 through a company called WebPayDay. In 2008 I did take out an online loan, paid it back and everything was fine. I asked for a validation of this loan showing that I indeed took it out; however, this guy is telling me that I have to get that through the company's website. When I look for webpayday on the internet it tells me that they are no longer doing loans and redirects me to another company. I just want to make sure I owe this money and why cant this guy get me that information. He is telling me that my original loan was $375 and if I pay $400 today it will be done, otherwise I have to make $100 a week payments to satisfy $820 or I will be sued for 3 times the debt which would be $3200 plus they will charge me with bouncing a check over state lines which is a felony because I closed my checking account. I was making $25 a month payments for like 6 months but he said these didn't even help because the accruing interest was more than my payment. This just doesn't make sense to me and I want to know where I go with this. I definitely do not want to be sued for $3200 and I want to do the right thing.
YOu got some kind of scam artists on your back. They can't threaten you with jail like that. See if you can get that in writing (a letter) and then you can do something with it. He said, she said, they said don't get it. you have to prove what they said.
Quit talking on the phone. make them send it to you in writing.
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Answers by Expert:
Creditwrench
Expertise
Debt Collections law, Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), federal law, how to properly answer court summons for collection cases, how to prepare federal cases against debt collectors, how to deal with debt collection phone calls.
Experience
I've been an active consumer advocate for more than 40 years and have helped hundreds of people win cases against debt collectors as well as helping them defeat demands for summary judgment lodged against them by banks, debt collectors and defeat mortgage foreclosures and keep their homes.
Education/Credentials
Paralegal courses for the most part.
I have been teaching people how to deal with judgments, mortgage foreclosures and other such problems both on and off the internet for many, many years. I am a Richard Cornforth information provider ever since 2000 and worked with many other organizations and causes since 1980. I was Oklahoma State Chairman for the nationwide drive to defeat the Constitutional Convention which was proposed by various factions within our federal government such as the Council of State Governments and the National Organization of State Governors who were working hard to organize a Constitutional Convention to be held in 1995 for the purpose of rewriting our American Constitution to be more acceptable to the United Nations. I worked with Senator Charles Duke of Colorado and Senator Don Rogers of California and many others across the nation to keep them from getting the number of delegate states required to lawfully hold a Con-Con and we were successful. I have worked with many other legislative issues in Oklahoma and have always been very successful.
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