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Payday Loan Default- Facing Jail time

Date: Thu, 07/12/2007 - 06:34

Submitted by gsforgrace
on Thu, 07/12/2007 - 06:34

Posts: 65 Credits: [Donate]

Total Replies: 54

Payday Loan Default- Facing Jail time


I borrowed a Loan for $460.00 from Ace Cash Express a store front lender in DC, i live in Washington DC as well.

I fell into some hard times and couldnt repay the loan back in the time i was supposed to.

I received a call this morning from a law office letting me know if the amount was not paid by 1pm EST. today i would be arrested for Check Fraud.

I am terrified, i offered to have them take my rent money next friday so i dont get locked into a check fraud system and arrested BUT they declined. Just like the Lender declined to take small payments until the loan was repaid in full.

What am i to do? I am scared to death and worse i cant go to jail. They verified all my information including the city i live in and the law enforcement office that would pick me up this evening. He even said i could turn myself in BUT get a lawyer first. PLEASE HELP! i dont know what to do....I have no one to loan me $400.00....

Is this real? Can I be arrested for default on payday loan?


I live in kentucky, I have a PDL at a storefront office. I have hit hard times and was unable to pay the loan on time. But was able to work with them to set up payments. Yesterday I got a call from them and was told that they had closed the office. It is private owned and they have no other offices. I was told just to mail my payments to them instead of bring them in. No amount was set for me to pay at a time. Only that I had 3 months to pay it off. Something doesnt sound right about this to me. What do you think that I should do? Confused!!!!!!!!!!!


lrhall41

Submitted by anonymous on Mon, 10/18/2010 - 23:48

( Posts: 202330 | Credits: )


I have a payday loan that I have defalted on. They keep sending my check through my bank over and over. And also are sending electronic payments through trying to take a there return fee out. What should I do? I also live in KENTUCKY. Is there a number I can call to see what can be done about this and if they are legal in doing it the way they are?


lrhall41

Submitted by anonymous on Mon, 10/18/2010 - 23:52

( Posts: 202330 | Credits: )