I have a payday loan out, and defaulted on it. Now

I have a payday loan out, and defaulted on it. Now i have a gentleman calling my home (foreign probably from a call center) claiming to be an inspector with a crime force and telling me that if i don't pay this debt immediately, he will be sending the sherriff to arrest me in the morning! Can he really do this and is he really an officer of law, or just a man at a call center?

7 Answers

You can contact with the Ohio Division of Financial Institutions in order to know whether or not the payday loan company is licensed in your state. Their contact detail is as follows:
# Address - 77 South High Street, 21st Floor Columbus OH 43215
# Phone - (614) 728-8400

If the lender is licensed, then they can sue you for not paying of debt. Illegal lenders won’t be able to take any legal action against you. Non-payment of debt is not a criminal offense. It’s a civil case, so they can’t arrest you. I think this is a scam. You can file a complaint against them to the State Attorney General or FTC.
 


It is a definitely a scam. You can't be arrested. It is a scare tactic. If it is a legal loan and you have defaulted on it, then you can be sued for it.


Next time they call record them & make sure they mention what compay they are with & you have yourself a harrasement case.

 

 


No...it is a scam!!  Debts are civil...not criminal.  NO one is coming to arrest you.  Hang up on them.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

So, in other words, they have to actually file a law suite and collect as any other loan company?  Or can they actually come to my house and have me arrested? 


Ohio and it was an internet payday loan company.


What state do you live in and who did you borrow from???

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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