That depends on the state where the money was loaned. As for my state, the State of Califronia, there are specific laws that govern any type of payday loan, on line or not. Many people do not know that in California, they cannot "automatically" renew your loan every two weeks and take $90+ dollars and call it interest. In California, they can only charge interest in the amount of $17.50 per $100.00 borrowed, and they cannot "renew" or continue to charge interest every two weeks. This number is a scam, and anyone who knows anything knows that in order to sue you, civil or criminal court, they have to FILE IN PERSON, and you have to be LEGALLY SERVED!. They cannot call in a lawsuit, nor can they email it in.
That depends on the state where the money was loaned. As for my state, the State of Califronia, there are specific laws that govern any type of payday loan, on line or not. Many people do not know that in California, they cannot "automatically" renew your loan every two weeks and take $90+ dollars and call it interest. In California, they can only charge interest in the amount of $17.50 per $100.00 borrowed, and they cannot "renew" or continue to charge interest every two weeks. This number is a scam, and anyone who knows anything knows that in order to sue you, civil or criminal court, they have to FILE IN PERSON, and you have to be LEGALLY SERVED!. They cannot call in a lawsuit, nor can they email it in.
If there never a loan made and proved, how can a court rule that someone is guilty and be forced to pay what was never
loaned plus damages for an event that never happened.
They can't simply said! There are many scams ongoing right at the time and one of them is calling people claiming exactly this kind of thing. There are warnings out all over on these extortion Scam operations.
Payday loans
http://www.paydayloaninfo.org/state-information
http://dfi.wa.gov/consumers/alerts/cashnet-payday.htm
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Extortion Scam Related to Delinquent Payday Loans
Washington, D.C.
December 07, 2010 FBI National Press Office
(202) 324-3691
— filed under: Press Release
The Internet Crime Complaint Center has received many complaints from victims of payday loan telephone collection scams. Callers claim the victim is delinquent in a payday loan and must repay the loan to avoid legal consequences. The callers purport to be representatives of the FBI, Federal Legislative Department, various law firms, or other legitimate-sounding agencies. They claim to be collecting debts for companies such as United Cash Advance, U.S. Cash Advance, U.S. Cash Net, and other Internet check-cashing services.
According to complaints received from the public, the callers have accurate data about victims, including Social Security numbers, dates of birth, addresses, employer information, bank account numbers, and the names and telephone numbers of relatives and friends. How the fraudsters obtained the personal information varies, but in some cases victims have reported they completed online applications for other loans or credit cards before the calls started.
The fraudsters relentlessly call the victim’s home, cell phone, and place of employment. They refuse to provide any details about the alleged payday loans and become abusive when questioned. The callers have threatened victims with legal actions, arrests, and, in some cases, physical violence if they do not pay. In many cases, the callers harass victims’ relatives, friends, and employers.
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Also read up on the laws and your rights:
http://800notes.com/forum/ta-86217073a9c8dad/ ... 077595690349410
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http://www.consumer.ftc.gov/articles/0258-fake-debt-collectors
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http://www.deadiversion.usdoj.gov/pubs/pressreleases/extortion_scam.htm
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You can report Extortion Scams here:
Please do file reports with the FBI, your state attorney general and Department Of Justice,FTC & FCC..