Pay day lenders, short term lenders and these high risk lenders are now charging fees on top of fees. So, if you borrow $1,000 and the late fees are $100 they may then charge you a late fee of 1%…
Posts Categorized In: Legal Process
California Debt Blog: High Risk, Short Term Lenders Are More Aggressive in Litigation
As you know by now, I am not a fan of high risk, short term loans. I think these loans are bad for most people. High risk lenders are more willing to take on aggressive litigation tactics. They do this…
California Debt Blog: Short Term Lenders May Attempt to Get Money From Your Bank Account
Some short term lenders require that you give them a post dated check when you take out the money. Do you wonder why they would do this? Consumers report that these high risk lenders may try to deposit post dated…
California Debt Blog: High Risk, Short Term Lenders Are More Aggressive in Collections
There are many reasons people go to high risk, short term lenders. Sometimes it is the only place to get the money. Sometimes they dont have a bank account or dont have access to other money. But do you know…
California Debt Blog: Most Payday Lenders Do NOT Have To Follow Debt Collection Laws
You did not read that wrong. Most payday lenders do NOT have to follow federal debt collection laws. How is that possible? The Federal Fair Debt Collection Practices Act (“FDCPA”) only applies to third party debt collectors. Since most of…
California Debt Blog: Watch out for high interest rates
Did you know that some payday lenders, cash advance companies or short term lenders, including title lenders, charge 90% interest for a loan to be repaid over several years? However, that can be on the low end. Some lenders have…
California Debt Blog: The Rosenthal Act Notice MUST Be Included in California Collection Letters
The California Rosenthal Act, or Rosenthal Fair Debt Collection Practices Act, or RFDCPA – if you like initials, is very similar to the FDCPA. There are some differences. One of the big differences is that the Rosenthal Act requires a…
California Debt Blog: Debt Collectors Must Notify You of Your Rights
The government screws a lot of things up. But, sometimes they actually make things easier for consumers. Its not often, but sometimes it happens! The Fair Debt Collection Practices Act is one of those times – mostly. The FDCPA requires…
California Debt Blog: Do not fall for the threat that you will be arrested
This drives me crazy. I probably get this call more than any other call. Someone calls me and they tell me that a debt collector called them and threatened to have them arrested. Or they call and they tell me…
California Debt Blog: Debt Collectors Cannot Contact You After You Tell Them to Stop
No one likes to receive a call from a debt collector. Debt collectors, for the most part, are annoying and bothersome. They are rude and have no problem harrassing people in an effort to get paid. But there is a…