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Can You Be Charged With Theft by Deception Over a Payday Loan

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  • 12-15-2008, 10:10 AM
    kfarris1
    Can You Be Charged With Theft by Deception Over a Payday Loan
    My question involves collection proceedings in the State of florida
    hi in the last year i got some payday loans of the internet a total of 3 then i had some job difficultys and was not able to pay them completely and as a result my back account was closed because of having the negative balance for so long they went to collections today i got a call saying that he was an investigator and that since the bank account was closed in my county it is a theft by deception charge and that could reslut in criminal charges and i could be arrested is this true ?
  • 01-04-2009, 09:12 AM
    divemedic
    Re: Payday Loan
    they cannot charge you for theft by deception, because the essence of a payday loan is that they are advancing you money using a check for collateral, knowing full well that the check is no good at the time it was written.
  • 01-04-2009, 10:06 AM
    divemedic
    Re: Payday Loan
    Also, here is the applicable state law:

    560.406 Worthless checks.
    --If a check is returned to a deferred presentment provider from a payor financial institution due to lack of funds, a closed account, or a stop-payment order, the deferred presentment provider may seek collection pursuant to s. 68.065, except a deferred presentment provider shall not be entitled to collect treble damages pursuant s. 68.065. The notice sent by a deferred deposit provider pursuant to s. 68.065 shall not include any references to treble damages and must clearly state that the deferred presentment provider is not entitled to recover such damages. Except as otherwise provided in this part, an individual who issues a personal check to a deferred presentment provider under a deferred presentment agreement is not subject to criminal penalty. If a check is returned to a deferred presentment provider from a payor financial institution due to insufficient funds, a closed account, or a stop-payment order, the deferred presentment provider may pursue all legally available civil remedies to collect the check, including, but not limited to, the imposition of all charges imposed on the deferred presentment provider by any financial institution. In its collection practices, a deferred presentment provider shall comply with the prohibitions against harassment or abuse, false or misleading representations, and unfair practices which are contained in ss. 806, 807, and 808 of the Fair Debt Collections Practices Act, 15 U.S.C. ss. 1692d, 1692e, 1692f. A violation of this act is a deceptive and unfair trade practice and constitutes a violation of the Deceptive and Unfair Trade Practices Act, part II of chapter 501. In addition, a deferred presentment provider shall comply with the applicable provisions of part VI of chapter 559, the Consumer Collection Practices Act, including, but not limited to, the provisions of s. 559.77.


    So, the person who called is in violation of state law. Not only can they not have you criminally charged, you can sue them for even threatening to do so.
  • 01-12-2009, 12:28 PM
    paydayoperator
    Re: Payday Loan
    as a brick and mortar paydaylender I am imploring people to be careful when using internet lenders. Many of these operations are overseas and highly unregulated. I would encourage you to seek credit from lenders who are stamped with the CFSA or FISCA seal of approval. CFSA stands for Community Financial Services Association and FISCA stands for Financial Services Centers of America. PaydayLenders/Cash Advance providers who belong to these organizations abide by all laws and CFSA and FISCA's industry best practices guidelines. Many of them offer extended repayment plans and work closely to help people seek out credit counseling and flexible payment options if they get into trouble. Seek out the managers or owners of paydayloan stores if you get into trouble and work out a payment arrangement that is flexible and will allow you to repay the debt without getting in over your head.
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