payday loan

1 Answers. Asked on Sep 12th, 2017 on Consumer Law - New York
More details to this question:
I received a phone call last week from a company stating I owed a payday loan that I have no idea about and was told if I did not pay the balance in full or set up a payment arrangement I would be sued and my wages would be garnished. I was nervous, never been through this before and I set up a payment arrangement and made an initial payment of $125.00. I need legal advice on what to do. I already filed a complaint with the FTC and am going to send a letter to this company today stating that I need debt verification because I do not remember at any time taking out a payday loan.
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Answered on Sep 13th, 2017 at 5:44 AM

Making a payment was a very bad idea.  It looks like you think you owe it.  The whole thing may be a scam.  If you set up an automatic debit from your account you need to block this with the bank, or close the account.  The letter is useless, as is the FTC complaint.

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Consumer Law
Most--but not all--businesses act ethically and honestly. If a company fails to honor a product's warranty, or is violating the Fair Credit Reporting Act and Fair Debt Collection Practices Act, or refuses to replace a defective product under state lemon laws, you may need a strong advocate on your side. An attorney whose practice focuses on consumer law can work tirelessly to see that you are treated fairly and afforded all of the consumer rights and protections afforded to you under state and federal laws.
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