Can an online payday loan company press criminal charges against me for defaulting on the loan? 6 Answers as of October 07, 2013

I took out a payday loan online. I have them calling family members that wasn't on the contact list and somehow they got their numbers and calling my employer's telling them they are going to send a federal escort to pick me up for bad checks. Can they do this? Is this legal?

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Law Office of William Stoddard | William Stoddard
Maybe. Did you fail to disclose something so they loaned you the money on a false reporting. Anything you did that might fit into the theft statute could be charged with a crime. However, newsflash almost never did you or anyone do what is needed to prove a crime. The collection people say this knowing full well that no prosecutor will charge this as a theft. Relax. Say to them, go ahead and report it. "I will pay what I can, when I can" Then do make some kind of payment even if it is only $5 a month via money order. Do not tell them where your bank account it. In fact move banks, as they will probably start a suit against you to get a judgment so they can garnish your wages or attach a bank account. A lot depends on how much money and whether they think they will get anything for the effort. But you can be as responsible as you can too.
Answer Applies to: Washington
Replied: 10/7/2013
MatthewR. Schutz, Esq | Matthew R. Schutz
No. It is a violation of federal and most state laws.
Answer Applies to: New Jersey
Replied: 10/2/2013
SmithMarco, P.C.
SmithMarco, P.C. | Larry P. Smith
No, they are a scam.
Answer Applies to: Illinois
Replied: 10/2/2013
Gottlieb & Goren, P.C.
Gottlieb & Goren, P.C. | Aaron W. Goren
No. Also, send them a certified letter (return receipt requested) telling them not to contact anyone on account of the debt.
Answer Applies to: Michigan
Replied: 10/2/2013
The Law Office of Darren Aronow, PC
The Law Office of Darren Aronow, PC | Darren Aronow
No, they are just harassing you they are mostly off shore and can not be prosecuted for harassment so they get away with it.
Answer Applies to: New York
Replied: 10/2/2013
    Edelman, Combs, Latturner & Goodwin, LLC | Daniel A. Edelman
    1. No. Failure to repay a debt is not a crime. 2. You do not identify the company. Check if it is licensed with the Illinois Department of Financial and Professional Regulation. If it is not, the loan is void and they owe you money, not the other way around. The main problem with these cases is finding a defendant capable of paying a judgment.
    Answer Applies to: Illinois
    Replied: 10/2/2013
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