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How can I find out if I owe anything to a business? Is there an Equifax equivalent for payday loans?

Murfreesboro, TN |

I ask because I received a call from a collection agency threatening to have me arrested if I didn't pay $900 to them to resolve the issue. I requested the name of the complaint company and they gave it to me over the phone but stated they would not send anything in writing until the first payment. I called the complaint company and they stated they didn't have any record of me taking out a loan but the records the person could access only went back three years.

I had a period where I did take out a lot of payday loans but as far as I can remember, I have paid everyone of them back. I didn't keep good records at the time. If I owe the money then I want to pay it but I want to make sure that I owe it first.

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Attorney answers 3


Assuming the collection agency is a "debt collector" under the Fair Debt Collection Practices Act, you have rights. Threatening to have someone arrested for a debt is harassment. The collection agency should send an initial written notice with information about the alleged debt. You would have 30 days from receipt of the notice to send a written dispute of the debt. The collection agency must then cease its collection efforts until it provides "validation" or "verification" of the debt. Because of the deadlines and technical requirements, you may want to speak to a lawyer who's familiar with the FDCPA.

This reply does not constitute legal advice or the establishment of an attorney-client relationship. Your receipt of the information on this website is not intended to create, and receipt does not constitute, a contract for representation by Michael J. Wall or Branstetter, Stranch & Jennings, PLLC. This information is not intended to substitute for obtaining legal advice. No person should act or rely on any information in this site without seeking the advice of an attorney.




I have seen severalof these kinds of threats from "collectors" recently. The contacts they have with consumers are filled with over the top viollations of the FDCPA, like the ones you mentioned. Two things. Sketchy lenders use sketchy collectors. Also, a couple of years ago, there was a story of some payday lenders having their computer files hacked. It could be that these folks are scammers and have obtained your information through that means. You should contact a qualified consumer attorney in your area tosee if there is anything that can be done.

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