i received an email from acs inc threatening me with a law suit for a pay day loan. i never took out a payday loan. what do i do?

2 Answers

 

 
 
 

The most important thing to do is to stay calm.  First, ACS must only inform you of specific collections options that they have the ability to carry out.  If in fact they put their intent to follow through with legal action in writting, it is probably safe to say that they intend on doing so and have the ability.  They would be very unlikely to put that in writting if they did not.  This does not necessarily mean, however, that you are their intended target. 

MOD NOTE...I have read this 3 times and I have no clue as to what you are saying.  Do you know anything about collections???

 

If they are not answering your calls, the next step is to send a letter to them requesting validation of the debt.  You must, and I repeat MUST send the letter via certified mail return receipt requested to a physical mailing address, not a PO box. 

Mail CAN, I repeat CAN be sent to a PO BOX.  There is no requirement for a CA to give their physical mailing address.  Most go thru PO BOXES at the post office...whoever is picking up their mail will have to sign for the delivery.

 

  They will have a limited amount of time to respond, generally 30 days from their verified receipt.  I would advise doing a little online research and getting the wording of a good letter before proceeding, but don't take too long as this is all time sensitive. 

Wrong....there is no time specified by the FDCPA.  Only the state of Texas states that a DV must be responded to within 30 days.

The rest of your post is just words....you are not really giving any information.

 

TO the poster....you need to send a DV letter...debt validation.  Go to http://www.debtconsolidationcare.com/settlement/writingaproperdv-dispute...

And ignore Brady's post.  He doesnt know what the hell he is talking about.

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

The most important thing to do is to stay calm.  First, ACS must only inform you of specific collections options that they have the ability to carry out.  If in fact they put their intent to follow through with legal action in writting, it is probably safe to say that they intend on doing so and have the ability.  They would be very unlikely to put that in writting if they did not.  This does not necessarily mean, however, that you are their intended target.  If they are not answering your calls, the next step is to send a letter to them requesting validation of the debt.  You must, and I repeat MUST send the letter via certified mail return receipt requested to a physical mailing address, not a PO box.  This means that whoever recieves the letter must sign for its receipt and you will recieve back verification of their receipt.  They will have a limited amount of time to respond, generally 30 days from their verified receipt.  I would advise doing a little online research and getting the wording of a good letter before proceeding, but don't take too long as this is all time sensitive. 

Now, very carefully read the letter they sent to you and determine if they have already filed with a specific court or just simply intend to.  Either way, they must have specific idetifying information to determine exactly who they are intending to file against and if you are not that person, then they have already broken the law by sending you someone else's information.  If you are the intended target of their attempts to collect and you truly have never taken out a pay day loan, then I would highly recommend going to the location where the loan originated and asking them to show you the documents that created the loan in person in order to verify that you were in fact defrauded.  If you have never opened a payday loan, you should know that they require at least a form of identification and a valid checking account to initiate the loan and that information is kept on file.

You should continue to attempt to contact them by phone as many times as it takes for them to answer and you should send them the written validation request as soon as possible.


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