?need some advice...pretty quickly :-) :-)

[IamOld]

Ok guys - one original creditor - a...ehem...funky loan company has called me at work, which is ok, because I have caller ID - BUT they tracked down my boss which isn't ok.

I had upon advice put a stop payment on funky loan (ok payday loan - yes I know - feel free to beat me up...I deserve it...why I got involved with these financial rapists... BUT no more - I'm done with this...robbing Peter Paul..and Mary...

By the way the "balance" on this loan is like $200 - NOT licensed in the state where I live NOR where I work.

So...question one - I am due to sing for 7 on the 28th and I guess atty will file that day or at worst on 30th Sept.
SO - i want to email them to a) contact atty, and b) do NOT call me at work, and c) by the way, I've been told you're unlicensed, etc.

2) on their loan agreement: "I declare I am currently not undergoing bankruptcy, have no intention of filing in the
near future and understand this loan cannot be included in any bankruptcy filing." is stated...may I presume this is pointless and nothing to worry about? I mean at worst if they object and win, I'll have to pay them their $200....

Thoughts guys?

[LadyInTheRed]

I don't think the language is anything to worry about. The fact that you are filing BK is not an indication that you intended to file at the time you got the loan. The part about the loan not being includible in bankruptcy is a load of BS that they hope you will believe. You are correct that the worse that would happen is that the $200 would be non-dischargeable and you'd have to pay it. I doubt that will even happen.

If you are going to file in the next few days, sending an email seems like a waste of time. But, it can't hurt. Discussing their lack of licensing probably won't scare them off. If they call you at work, answer the phone and tell them you are not allowed to take personal calls at work. That immediately stopped calls to my office by my credit card companies. But, pay day lenders seem to be the most aggressive and unscrupulous collectors. So, it may not work so well with them. But, give it a try.

[IamOld]

Thanks LadyintheRed!

Well, as it turns out their address in DE is a maildrop - their URL is registered to CA where they're also not licensed. I think they'll go away - worst I'll "owe" them $200...

THANK YOU as always for your sound advice...and dear God why I didn't do this before...(looking them up, etc.)

[justbroke]

The language in the loan documents, just as Lady wrote, is absolute hogwash! I can't believe they even allow that type of language in contracts, but then you have the old "severability" clause. I wish that contract law was better, but it is what it is. Besides, no one seems to read them anyhow.

You have nothing to worry about. Just get your filing done... and be done!

[IamOld]

Thanks so much justbroke!!!!! Signing on Wed!

However. I may need to send them email to call my Atty

.They found my boss at work..

[bcohen]

on their loan agreement: "I declare I am currently not undergoing bankruptcy, have no intention of filing in the near future and understand this loan cannot be included in any bankruptcy filing."

ROFL @ that one!

There is NO SUCH THING as a contract for a consumer debt that would allow you to sign away your right to bankruptcy, just like there's no such thing as a contract for a consumer debt that would allow the creditor to seize your kids and sell them as slaves if you fail to pay!

Seriously though, when the time comes to file, you simply put the payday loan on your schedule of creditors as an unsecured debt, and assuming you're filing Chapter 7, the debt WILL be discharged. I guarantee you that no payday lender is going to invest the thousands of dollars to hire and attorney to bring an AP to try and block this debt from being discharged.

[GoingDown]

on their loan agreement: "I declare I am currently not undergoing bankruptcy, have no intention of filing in the near future and understand this loan cannot be included in any bankruptcy filing."

ROFL @ that one!

There is NO SUCH THING as a contract for a consumer debt that would allow you to sign away your right to bankruptcy, just like there's no such thing as a contract for a consumer debt that would allow the creditor to seize your kids and sell them as slaves if you fail to pay!

Seriously though, when the time comes to file, you simply put the payday loan on your schedule of creditors as an unsecured debt, and assuming you're filing Chapter 7, the debt WILL be discharged. I guarantee you that no payday lender is going to invest the thousands of dollars to hire and attorney to bring an AP to try and block this debt from being discharged.

Yes, they hope the debtor doesn't realize that he/she can't sign away his/her rights to file BK. It's merely a scare tactic to try to bluff their way out from under the crushing weight of a bk discharge against their debt.

Even if they spend the thousands of dollars on an attorney for an AP, they will end up losing anyways. So yes, they probably won't even bother.

Like most debt collectors, they huff and they puff and they bluff their way through, but only if you let them.

As for them calling your boss, as soon as you file bk, you can get them to stop calling.

[IamOld]

Thanks going down - ok you guys want a laugh - this is the latest collection email from one of them:


------------------

Out of Patience

You have completely exhausted our PATIENCE!
There are few excuses for leaving your account delinquent for such an excessive amount of time. I wouldn't know yours, because we've NEVER talked about it!
I can't defend you and your lack of cooperation any longer. It is high time you stepped up to the plate and faced this issue before someone else takes over.
CALL ME TODAY at 1-888-265-5074 Option 4!
Sincerely,
[name removed by moderator]
Assistant Collection Manager
Loan Shop Online
1-888-265-5074 Option 4
Pay by ACH, debit card, credit card, or Money Gram!





To reach an account resolution representative for any reason, please call 1-888-265-5074 or email [email protected].

[LadyInTheRed]

ROTLF!

I can't defend you and your lack of cooperation any longer. It is high time you stepped up to the plate and faced this issue before someone else takes over.

Uhhhhh Ohhhhh! Sound's like the bad cop is going to have to get involved. This nice guy isn't patient enough to protect you any longer. If only you'd talk to him more!

ETA: I just realized I should remove the collection manager's name consistent with forum rules against posting people's names. I looked, but I can't find any exceptions for collectors. Darn!

[IamOld]

LOL!!!

I'll only talk to Tony - no one else!! I want to see Mr. Soprano!!!

ROTLF!



Uhhhhh Ohhhhh! Sound's like the bad cop is going to have to get involved. Princeton isn't patient enough to protect you any longer. If only you'd talk to him more!

[bcohen]

File that one away with all the other junk emails you receive, hawking "get rich quick" investment opportunities, inheritence winnings from Nigeria, and the like. Good for a few laughs, but when you're done, send it to your "spam" folder!

[IamOld]

File that one away with all the other junk emails you receive, hawking "get rich quick" investment opportunities, inheritence winnings from Nigeria, and the like. Good for a few laughs, but when you're done, send it to your "spam" folder!

Or report them as spam... :-)

[shark66]

Not for nothing, but why do they even have your email address???

Good luck to us all.

[IamOld]

Not for nothing, but why do they even have your email address???

Good luck to us all.

Well you have to give it to them if you do business with the devil....