Legal Question in Credit and Debt Law in Illinois

I had a payday loan that went bad so I set up a payment plan with them however now I am receiving phone calls from them again and not sure if I should proceed without a lawyer. The plan was set up through a friends bank account so I'm really not sure if there was a problem debting the account but I know I put the money in the account. I would like to settle out of court and need some legal advice/ help.


Asked on 1/04/10, 12:33 pm

2 Answers from Attorneys
Adam S. Tracy Securities Compliance Group Ltd

Thank you for your question. You may wish to consider to entering into a formal arrangement with them. Instead of using a friend's account, either agree to send them money orders or have the payment drawn from a pre-paid debit card. If they are harassing you, you may also want to have your attorney or you tell them that you are considering filing a bankruptcy. That would potentially give you some leverage as they will certainly not want you to do that. Please feel free to contact me via email for further assistance: [email protected]

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Answered on 1/10/10, 12:55 pm
Arnold Toole Toole Law Office, LLC

This sounds like it could be a breach of contract matter. What are the terms of the "payment plan"? Was it put in writing? We would need additional information to dicsuss this matter with you, including whether the debit from you friend's bank account is working properly. I'm sure the payday peole would rather settle this matter out of court as well. Feel free to contact our office to discuss this matter further, 773-684-5730.

This reply does not constitute an attorney-client relationship, and is limited by the specific information provided.

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Answered on 1/11/10, 9:11 am


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