In or around July 2012, I borrowed $500.00 form Bayside Payday Loan Co. In or around Sept 2012, I closed my bank account because unauthorized money was being taken from my account. Prior to closing the account, I paid approx $500.00 in interest. I have offered many of time to pay the amount I borrowed of $500.00. The representatives are refusing to accept the $500.00; they are asking for $1032.00. I am refusing to pay this amount. I am being threatened daily with phone calls and court action. They are also calling my supervisor. How can I stop the harassment and solve this matter without paying the $1032.00.
Car / Auto Accident Lawyer
Contact a lawyer that handles fair debt collection violations. They cannot threaten to tell your employer, that is a big violation.
Estate Planning Attorney
It is best if you contact an attorney and have her/him review the signed loan agreement. Payday loans are not illegal per se; however, there are strict rules in regard to them including statutory caps on the interest that can be implemented on the loan. An attorney can research whether it is a legitimate debt collection agency and whether they are abiding by the laws for collecting debts. A written demand for a detailed statement should be made and you can protest the amount that it being claimed. More details are needed to address what happened with your bank account.
Responses are for general information purposes only, and are based on the extremely limited facts given. A consultation with an attorney experienced in the area of law(s) indicated in the question is highly recommended. Information and advice given here should not be relied upon for any final action or decision, as the information is limited by its nature to the question asked and the fact(s) presented in that question. THIS RESPONSE DOES NOT CREATE AN ATTORNEY/CLIENT RELATIONSHIP, particularly considering that the names of the parties are unknown.