jessica davis called my relatives and friends stating that there is a felony warrant against me and i needed to pay over 1400 dollars for a payday loan from 09 or the company will issue a 3rd degree felony warrant for theft by deceit through a financial institution unless i pay
she would not send any verification to me and said that my atty could ask for it through the courts.
Some Payday Loan lenders will attempt to convince the borrower that the check they left is fraudulent, and the lender will file a fraud case. Borrowers should read this:
http://www.in.gov/dfi/FAQ_-_Check_fraud_.pdf
The important paragraph in that PDF is:
"... if the small lender knew, at time of receipt, that the account had insufficient funds, or that the check was postdated, the issuer has not committed the crime of Check Deception"
(Although that is a citation from Indiana law, the laws are similar in most states that permit payday loans)
Here is a citation from the Uniform Commercial Code (UCC), which is valid in ALL 50 states:
Section 3-104(2)(b) of the UCC, defines a check as “a draft drawn on a bank and payable on demand.” A postdated check, since it is not payable on demand, does not satisfy this demand. Consequently, it has generally been held by most states that the giving of a post-dated check does not constitute a present fraud nor is it within the scope of the bad check laws.
Yes, borrowers should pay their debts, but lenders must (by law) follow the correct procedures to collect those debts. A summary of the Fair Debt Collection Practices Act (FDCPA) is here:
http://en.wikipedia.org/wiki/Fair_Debt_Collection_Practices_Act
More information,from the FCC, on loans and how to report debt collector violations:
http://www.consumer.ftc.gov/articles/0149-debt-collection
Recent news, stating the FTC DOES shut down these scammers!
http://800notes.com/forum/ta-a42dc4be97913e8/ ... ection-scammers
and
http://www.consumerfinance.gov/newsroom/cfpb- ... -cycle-of-debt/