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Meaning the lender has the option of taking your vehicle away if you dont repay the loan. This is the biggest risk of this kind of loan. Having a car repossessed would make anyones life more difficult.
With these loans, you dont just risk losing your car, truck or motorcycle. You also agree to pay extremely high interest rates and steep fees. And in Texas, there are few regulations or laws to keep lenders from charging these excessive fees.
Mail, take it to your post office and file a complaint. Sometimes the postal service will follow up. I hope a lot of people read this just to warn them against taking out payday loans. Bank al islami personal loan you so much. I will follow your advice and will block their calls. I am in california and I recently had a collection agency for a loan taken out on the internet forward financing cash advance multi loan source and this guy jim carter from texas threatened me saying there would be a warrant out for my arrest, so I back tracked to multi loan source who then gave me the to the collection agency 1 and then they referred me to collection agency 2 which I spoke to a Peter THomas which I sure is the same guy threatening me with an arrest using the alias name Jim carter, can a person be prosecuted for a loan by phone and this guy also told me I would not be able to file on my Bankruptcy.
Is this legal these scare tactics I am getting ready to file a claim with the ca attorney General and federal trade commission. Peter Thomas told me to ignore any calls from Jim Carter and I was also told that had Bank al islami personal loan agreed to send the money to settle the debt I would have been sending the money to someone that would not have sent the money tosettle the debt, it would not have been forgiven, and Peter Thomas at autobond holdings told me that my acct was no longer handled by that gentleman and before I could explain, he stopped me and new about this jim carter character and I asked that he help with this guy and he refused nonchalantly, end result peter thomas got me to agreeto two post dated payments to settle my 826 debt, with money I dont have, at that point I was concerned.
Sandra, your experience with payday loan companies trying to collect debts is pretty typical.
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