I got a payday loan back for $500 that I forgot and defalted on 4 years ago and am now being threatened with arrest?

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I got a payday loan back for $500 that I forgot and defalted on 4 years ago and am now being threatened with arrest?

That company has sold the account to a aompany outsourcing. The lady stated that I have 24 hour to make payment arrangments or they will issue a warrant out for my arrest (bad check)? Can they do that or are they just a collection agency using scare tactics?

Asked on December 6, 2012 under Bankruptcy Law, Colorado

Answers:

eric redman / Redman Ludwig, P.C.

Answered 9 years ago | Contributor

generally payday loans are just loans.  not criminal because it is just a promise to pay in the future.  they like to threaten with jail to scare you into paYING!


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