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No matter what the debt collector on phone says, you must remember one thing during the whole process. “Payday loan is a civil debt. It is not a case of Check Fraud.” Following are some of your rights during the collection process. We have compiled this list based on Fair Debt Collection Practices Act.
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A payday loan company that charges any amount that is greater than the legal interest rate will not be allowed to sue to recover any debt due to the illegality of the interest rate. In short, predatory lending is costing families billions of dollars each year. Usury laws are aimed at tracking down and stopping lenders from charging ridiculously high prices.
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