Just got a call from a place called themselves Capital Services. A bit aggressive, had my information, what banking bank has and social security number. I run my credit reports every year. These people said they were representing SJM Marketing for a payday loan I took out in 2009 and was defaulted. I have not seen any such place on my reports. They had my address, but not the one I was living in at the time. They had my wife’s new email address, that she did not have at the time. Their number is 646-354-2096.
DUBNER: Well, here’s what it looks like, at least, the puzzle, which is that repeat rollovers – which represents a relatively small number of the borrowers and are a problem for those borrowers – but it sounds like though those repeat rollovers are the source of a lot of the lender’s profits. So, if you were to eliminate the big problem from the consumer’s side, would not that remove the profit from the lender’s side, maybe kill the industry?
MANN: And if you went to the counter and asked for a loan, they would hand you this sheet of paper and say, “If you’ll fill out this survey for us, we’ll give you $ 15 to $ 25, “I forget what one was. And then I get the surveys sent to me and I can look at them.
Race Matters: The Concentration of Payday Lenders in North Carolina, by Uriah King, Wei Li, Delvin Davis and Keith Ernst, The Center for Responsible Lending (March, 2005).
I was upset. I looked up Money & More online to see if there was a phone number that I could call to see if I could get more information since they were the ones I did business with. The website has no phone numbers. This to me is crazy. I had made a google search for Money and More when looking for their number. There are several forums and postings about scams to collect a debt from unsuspecting people. Most people are saying too that it was from 2008.
I’ve been getting these calls. They are also calling my job that I did not have at the time of this alleged loan. I do not want this to affect my job. They’ve called back to back and would not say who they are with and would not agree to send me a letter, saying they have sent several email. There is a call coming through right now while I’m writing this from 1243521256 and yes that’s all of the numbers … eh caller fraud ID as well. What is the name of Vaness? and gave a call back from 650-835 – ???? number. Omg! I am about to file a police report and open a FTC Case in my state.
It sounds like if the caller is breaking the law; a collection agency can not send you to jail. Read 5 Things to Debt Collector Should Never Say “and 11 Ways to Debt Collector May Be Breaking the Law for more information and advice on how to handle calls.
Mark – The next time they call them to provide written documentation to validate the debt (to prove the debt even exists). This is a standard procedure when dealing with any debt collector and by law, the collector must comply with this request. In fact, under the Fair Debt Collection Practices Act, if a collector contacts you by phone they have 5 days in which to send you formal written notice that you owe the debt. The notice must include the amount of the debt, the name of the creditor, and your right to dispute the debt, in writing, within 30 days of receipt of the notice.
On the other hand, this leaves about 40 percent of borrowers who were not good at predicting when they would pay the loan off. And Mann found a correlation between bad predictions and past payday loans.
He does not want direct bank transfer and does not want money orders as both will leave paper trails right to him. He just wants us to get a pre-paid debit card from the store and put the money on it.
Hi, I’ve been a victim of these payday loans the calls and threathens me that i will be brought up on charges these guys need to get caught they are usually foreingers that call i just rec eived two miore calls from # 818 659-5712 and661 752-5174 i want to report these people how do i go about this so we can catch these thugs i have stressed out over this i need help … sincerely paul giordano ny
The same number has been harrassing my work place for the past two days. The breifly talked to him and told him that I would call him back after work hours. But no one answers. Now he’s talking to almost everyone here at my work claiming that they are cussing at him. I already told him to stop calling me work. That’s pissing me off, I do not know what else to do!
DIANE STANDAERT: From the data we’ve seen, payday loans are disproportionately concentrated in African-American and Latino communities, and that African-American and Latino borrowers are disproportionately represented among the borrowing population.
I got a call today from a GA number, 404-996-1953, I was told that an arrest warrant was going to be out at at 5 pm today If I did not make a payment of 300.00 for a loan I did not receive , but bc I applied and cancelled and changed my bank acct information I was going to be held for check fraud, I explained that I never received the loan and she explained that I did not read the fine print that said that by applying for this loan I agreed to pay
I’m really scared. We got this phone call from this legal processing center accusing us the 2 charges with the state and both of them are felonies according to anyone who said on the phone. That we will be thrown to jail for 85 months if we do not take care of the money … It was for a check 570 and now all the fees added up to 970 and how our case was turned to the state that is why they they call us … that they can issue a warrant for arrest if we do not care of the money …
Payday Advance In Mesa Az
I have to warn you that even some of the attorneys I know who regularly sue debt collectors who break the law will not touch the cases that involve payday loans. Even if they are successful defending the client, they tell me, they can not collect. This may not be the case with all collectors, but I have to warn you that you can be dealing with very aggressive collection agencies here.
I can not tell from what you are writing whether it’s a very aggressive debt collector, but remember the debt collectors must follow federal law (and often state laws) that prohibits harassment and false statements.
I have had three scams come to me. This has got to stop. They call my job and harass my boss and other people. How do they get your job phone number? ACS just scam me two weeks ago. Look out. Now I have a new one. Here is the phone number 760-269-3830. You know they have another country. You do not understand them. They just threaten you. Someone stop these jerks.
I’m down with zero cash and applied for a payday loan now, I’m getting harassment calls from a phony call center (a double-wide trailer) deep in the heart of the Idyllwild Forest Reserves in California. They call and harass in a few dialects (Deep Indian, Middle Eastern, and Slavic … The phone number (951-468-0421) is listed as a lease from Sprint, and the thumbprint tracking that each call leaves leaves to that very location, Thanks to that phone’s GPS I had paid off the loan, Thank you, and now I’m still getting calls from ACS Legal Services. And then, If they persist, you can file harassment against the phone number and the person.
We had a call from Marshall & Fields law office in California, they said, demanding attorney info on an old loan back to 2009 from paydayone, well that has been paid for, then they wanted info, then they called my brother as he was listed I’m sorry, they gave me a number to call back to 740-364-0537 ,, they guy couldnt speak any english but ask the info he asked well i hang up and wait for the next call ,, I hope he understands english as he is going to get an earfull
1. I am a regular or resident member of the Army, Navy, Marine Corps, Air Force, or Coast Guard, which does not specify a period of 30 days or less of a member of the Armed Forces on active duty. The member of the Armed Forces on active duty as described above is the member’s spouse, the member of the child under the age of eighteen years old, or a person for whom the member provided more than one half of his
“I do not think they’ll be back, because I told them that it’s federal law to send me something written in the mail before trying to collect the debt from me” – Surprisingly, once they know that you know the laws (and better than they do), they typically do back and give up. Thank you for sharing your story, it shows that knowing and understanding your rights can help protect you from being a victim.
But if the only explanation for high rates were that lenders can, so they do, you would expect to see an industry awash in profits. It is not, especially today. Ernst & Young released a study, commissioned by the Financial Service Centers of America, to find that the ‘average profit margin before tax and interest was less than 10 percent. (For the sake of comparison, over the past five quarters, the consumer-financial-services industry has averaged a pre-profit profit rate of more than 30 percent, according to CSIMarket, a provider of financial information.) A perusal of those financial statements that are public confirms a simple fact: As payday lending exploded, the economics of the business worsened-and are today no better than middling. The Community Financial Services Association argues that at 36 percent rate cap, the one in place for members of the military, is a death knell because payday lenders can not make money at that rate, and this seems to be correct. In states that their rates are at 36% per year or lower, the payday lenders vanish. In New York, which caps payday
Paulette – Do not let them scare you. Remember if this is the debt collection scam (and it sounds like it is) then just