Pages: [1]
 |
|
|
Author |
Topic: Suing Payday Loan Company |
Lory-Moberly
Posts:
|
 |
«
on: 2008-08-04 12:03:46» |
|
Hi, i live in Canada. To make my story short, 2 years ago i borrowed some money from Cash money company, it was a paypay loan. Due to some unexpected difficulties with cash flaw, unfortutanely i dafaulted on my debt and had to deal with collections agency. I did settle my debt with them and thought that it is the end of the story. Guess what? Cash Money tried to debit my account 5 months later for 1/5 of the amount i borrowed from them. I did provide them with the release letter from collections agency and never heard from them for about a year. Shockingly they again tried to debit my bank account just a few days ago. Here is my question. Since they SOLD my debt to collections agency, did they have any rights to the "outstanding debt"? Second thing, do i have a good legal ground to take them to small claims court? Pretty much now they're simply trying to steal the money from my bank account. Any one knows their head office address in Canada? Before filing my case in small claims court, i want to offer them to settle this for 00. What are your thoughts? Thanks
|
|
|
Royal-Greenwood
Posts:
|
|
RE: Suing Payday Loan Company
«
on: 2008-08-04 13:23:04» |
|
- Payday loan companies are notorious for coming back and taking additional funds from your bank account.
need a payday loan immediately - i can't and i don't want to close my bank account as it's linked to too many things.
- Did your bank return the money to you?
- If you paid off a collection agency, the original creditor cannot come back and collect the same account.
- You can sue them for the amount they took from your account but even if you win the suite, you still have to collect from them.
- And have you closed that account?
- they broke the law, i suffered moral damages, what will stop the judge from punishing these blood suckers??
- But payday loan companies really don't mind not following the rules.
- need a payday loan immediately i simply reversed that transaction and put a stop payment for 6 months.
- You can try to sue them but I suspect it will be a complete waste of your time.
- Something you may find to be much more difficult than you think.i wonder why it will be difficult to sue them for attempted fraud initiated against me?
- need a payday loan immediately
|
|
|
Arnulfo-Mortland
Posts:
|
|
RE: Suing Payday Loan Company
«
on: 2008-08-04 14:16:55» |
|
If they don't, threaten to take them to court. You need to close your account and open a new one. They will harass you until there is no end, they will even call your friends and family. Same sort of thing. She eventually closed her account and opened a new one at another bank. Go to cashmoney.ca to find their head office address, or call one of the stores and ask them to give it to you. Offer to settle with them, as they will hassle you and hassle you and never quit!! It doesn't matter what is linked to this account for payments. Payday loan companies will do anything possible to get their money back need a payday loan immediately They are nothing but lowlife's anyways. Sent her debts off to collections, collections was hassling her, she agreed to settle the debt, and then Cash Money came back and still debited her account about 6 months later. Never use a payday loan company again....they are scum!! I had a friend that went through hell with Cash Money. I do believe Cash Money does have the right to debit your account for the outstanding balance. You may have some grounds in small claims court since these payday loan companies charge such awful interest rates, and I've heard of people having to file for bankruptcy as they just can't pay back the high amounts (especially the ones that have multiple loans out). They will change your account info for you. Open a new account elsewhere, take the automatic debit form and fax it off to your creditors for your payments. It sounds like such a hassle, but it's worth it.
|
|
|
|
|
| QuickReply | | With a Quick-Reply you canuse bulletin board code and smileys as you would in a normal post, butmuch more conveniently. |
|
|
