What to do about collection for an alleged loan?

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What to do about collection for an alleged loan?

I had this person from an on line loan company call me about a so-called loan that I had with their company. He claimed that I took out this loan 2 months ago. I do recall logging into the said loan, but do not recall finalizing the loan, nor does my bank statements show any deposit from them. What should I do? Can they take me to court?

Asked on May 4, 2011 under Bankruptcy Law, Tennessee

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

What you should first do is to close the account that you may have entered when applying for the loan.  Open up a new one with a new account number.  Second, you need to contact your state attorney generals office consumer fraud division and let them know that this company - which is doing business in their state - is fraudulently representing their website and that they claim that you have taken out a loan that you may have started to fill out the paperwork for but changed your mid and never completed.  Also call your state banking commission. Make sure you open a complaint with each and keep notes on who you spoke with and follow up.  Good luck to you.


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