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Expert: - 4/6/2010


Question
I got a payday loan in january and have not paid it.  I am willing to pay it but cannot do so in a lump some like the CSO wants.  I have been given two different dates to pay by and was told that "actions" will taken against me.  I do not know what actions these are and they said  I could go to jail.  I do want to pay them.  Am I at risk for going to jail.

Answer
Amanda,

They can not send you to jail.

They can:
1) Place a negative mark on your credit.
2) Contact you about repayment
3) File a lawsuit against you. If  they win they could garnish wages or bank accounts depending on the state that you live.

Chris Ebert
http://www.henleycreditlaw.com

Collections Law

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Chris Ebert

Expertise

I can answer questions for Texas and California residents concerning issues that involve creditor and debtor rights. Specifically, I can answer questions concerning: FDCPA, FACTA, FCRA, and Texas / California state collections violations.

Experience

For the last 6 years I have worked as a Sr. Paralegal in a law firm (http://www.henleycreditlaw.com) that defends debtors against their creditors. I have reviewed thousands of credit reports and under the supervision of our attorney helped hundreds of client resolve their credit issues.

Organizations
Henley & Henley, PC

Education/Credentials
BBA University of Texas at Austin

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