The creditor representative will sign a payment agreement or you won't send the money. If you have already been sued, you need to be sure they have the proper evidence to prove the debt before you decide to pay.
I know all of you are frightened by the threats of collectors on payday loans, but the vast majority of these calls are for uncollectable debt that may not actually exist. The threats of criminal action are absolutely false. Beg them to arrest you AND sue you.
The manipulation of the sex organ for money is the element of the technique that could be considered illegal. You may have a good faith belief that the law is wrong or should be changed, but that would require arrest for the act followed by trial and appeals.
You are stuck. You must keep paying if you are concerned about your credit scores or you can stop paying if you have no plans for credit based purchases in the near future. Bankruptcy is an option but drastic if this the only debt.
You can sue your "friend" but actually collecting on the debt and judgment is unlikely in Texas.
Bankruptcy might not be right for you. If you are receiving Social Security benefits of any kind make sure those funds are never commingled in a bank with any earned money you may have. It is highly unlikely that you would actually be sued for defaulting on a payday loan, but if you were, only your earned money in the bank could be seized to satisfy a judgment.
These comments are made for educational purposes only and do not constitute legal advice. No attorney-client relationship exists between us.
The statute of limitations for the collection of debt in Texas is 4 years beginning the day after your first missed payment. This does not change when a debt is sold. The debt buyer must file suit to collect before that 4 year period ends. Collectors can and do often try to collect debts many years after limitation period ends. If that happens,...
It is now clear under the Sims decision that a Texas home equity loan can be modified even if the loan principal is increased. This is a new ruling and many lenders and servicers are now trying to figure out how to apply it to the tremendous backlog of foreclosures in the pipeline. As you may know, Nationstar will have to sue you to get permission to foreclose which means you will have the opportunity to file your own suit against Nationstar. That will be the time to negotiate the...
You really need a police report number so you can inform the credit bureaus that you are a victim of identity theft. Usually, you can get a report number even if there is no investigation. As for the others, you might want to try the sheriff or the FBI.