I owe about $500 on a unpaid payday loan. Are they likely to file a lawsuit to collect this money? This collection firm which also employs paralegals is California-based and I’m in Arizona, does this make a difference?
I owe about $500 on a unpaid payday loan. Are they likely to file a lawsuit to collect this money? This collection firm which also employs paralegals is California-based and I’m in Arizona, does this make a difference?
#1 by Brother Otter on August 4, 2010 - 6:45 pm
Doesn’t make any difference where you are – unpaid debt will show up on your credit report and Experion/Equifax/Transworld go everywhere.
They’re not likely to file a lawsuit, but they will report the debt delinquent and unpaid and that will show up as a black mark.
Pay the debt. And for goodness sake quit using payday loans.
#2 by Slimick on August 7, 2010 - 4:01 pm
Debt collectors love to scare people with bogus threats of lawsuits. If they threaten legal action, per the Fair Debt Collection Practices Act, you have the right to speak with their attorney. Request to know the attorney’s full name and his/her license # in the state bar association. If they do not give you this info, the threat is bogus. If they do give it to you, the threat is real and you should proceed with caution.