Established Contributor
Breakthecycle2
Posts: 786
Registered: ‎09-15-2008
Re: PayDay Loans--Help!

johnsj21 wrote:
Everything that I'm reading online pretty much reads that if a payday loan lender wants to loan to a resident of colorado that the lender must be licensed in Colorado, if they are not then the loan would be null and void.  Check with you specific lenders to see if they are licensed in CO.

He is abosulutely right. They had no grounds to lend to you, therefor have no grounds to collect. The ones you mentioned are three of the ones I had..BIG INT is the WORST. They are located in the UK and as soon as you defualt, will call you and call you and call you. They just stopped calling me after over a year of 3-8 calls every day. Clsoe your checking account and open a new one a completley different bank. IF you reopen at the same bank, they have ways to send ACH debits through, even without your permission. Either payback what you borrowed, or cut ties ALL TOGETHER and avoid their calls or tell them you died, no seriously. The threats of being arrested and going to jail and fraud will come and come with a vengence. Ignore them as they are attempting to scare you into paying. Do alittle research online and you will see exactly what I'm talking about.


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