Legal Question in Civil Litigation in California
I had a pay day loan that was for 250 back in 2007. Today i recieved a call from a place called g&e office stating that I needed to settle out of court for 315.00 by tomorrow. I have not recieved any paperwork from them. They stated they sent it to an address from 2007. now they want to set up a payment agreement for more than I can afford. I dont even know if this is real. I dont know what to do. please help
2 Answers from Attorneys
If you didn't pay the loan back then, you are fabulously lucky they only want $65 interest on it now to settle. Pay it before that changes. If they sue you, it will likely cost a lot more.
While I agree with attorney Nelson that it's amazing that they only want $65 extra, remember that the statute of limitations is four years, and if it's past the four years or close to that don't agree to pay or make partial payments; and never ever give your bank information to a collection agency.
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