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Debt consolidation

Date: Thu, 07/07/2005 - 21:38

Submitted by anonymous
on Thu, 07/07/2005 - 21:38

Posts: 202330 Credits: [Donate]

Total Replies: 3

Debt consolidation


I'm recently turned 18, 4/6/1987 and applied for a loan as a way to establish credit and have some spending cash for the prom. My account was closed as a results of a averdraft by the loan company without my knowledge. I was contacted today, july 8th by an very irrate, associate John Ford from Ellis Crosby and associates. They said they were lawyers from the loan company and that I had an hour to give them $747.14 or they would begin to tke papers out with me. My orignal loan was for 300.00. My question is, is this considered fraud, and how come they won't accept a payment from me. They said they weren't interested in a payment, only filing court action against me? What should I do?


Hi Sincere
Welcome to the forums
You should first ask the company to validate your debt. AS per law no creditor or the collection agency can threaten or harass you to collect their debt. This is in contradiction of fdcpa law. Ask them to validate your debt and after they give you a proper reply as they are bound by law to do so you can think of paying off the debt. Please consult a local attorney who will guide you in this matter.

Further you can also consult a debt consolidation company who will take care of your debts and will further negotiate with your creditors in future. Please do not stress yourself out as the law is in your side.
Hope you will find this information useful.

Regards
Peter.


lrhall41

Submitted by peter on Fri, 07/08/2005 - 03:56

( Posts: 285 | Credits: )


Okay tell them that You have been advised of your legal rights and you have contacted the DAs office and they have told you that It is NOT possible to arrest someone for a PAYDAY loan, This company is very aggresive they have also been suspended from collection acts by the ACA and they are still calling people and telling them the same thing. You need to file a complaint with the ACA international and maybe we can get these people shut down!


lrhall41

Submitted by anonymous on Fri, 07/08/2005 - 06:35

( Posts: 202330 | Credits: )


Hi Sincere

Welcome to the forums. You definitely do not need to worry about this call from Ellis Crosby and associates because they are just going out of the law. You have the cover under the law and since their membership is suspended for a period of 90 days, they cannot take any legal action against you.

You just need to file a local complaint against them at the FTC and the state attorney general office and explain your cause. They will take the necessary legal action against them. I am sorry that you are going through such a harassment created by Ellis Crosby and associates.

Regards
Roxette


lrhall41

Submitted by roxette on Sat, 07/09/2005 - 09:16

( Posts: 4009 | Credits: )