Legal Question in Credit and Debt Law in Massachusetts

I received a call today from an agency claiming to be a collection agency for a payday loan that was told I took out in Jan. of 2011 online for $250.00. I was told that now due to late fees, etc., that I needed to pay them $430.00 or they would take further action against me. I offered to set up a low monthly payment amount but am unable to meet the amount that they want me to pay as my husband died a year ago. I told them that the most I am able to pay back per month is $50.00. They told me that there is nothing that they can do for me and that they were going to proceed with action against me. Can they do this if you are willing to try to pay this back? I need some help and advice please as I do not have the money that they are asking me for.


Asked on 6/23/14, 11:20 am

1 Answer from Attorneys
Jed Berliner L J Berliner

Yes, it has the theoretical right to pursue you even if you are willing to pay this back. In all likelihood it will do nothing. It if does, in all likelihood it cannot prove the debt according to the rules of evidence.

The $430.00 may or may not be bogus depending on the terms of your contract, but payday lenders often cannot be sued because they are hard to find.

Jed

Jed Berliner, Lawyer

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Answered on 6/23/14, 11:36 am


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