Q: Can a payday lender sue me on claims of default without providing documentation that the loan belongs to me?
I received a call from someone claiming to be with a collection agency claiming I owed money for a payday loan that I supposively defaulted on in 2007. The person refused to provide any documentaion proving the validity of the claim and advised me I would only receive proof of the default once the claim is settled. The default amount was $924, but the person is willing to settle with me for $600.
A:
See my article at my website rachelhunterlaw.com for a brief discussion of payday lending in GA. The statute of limitations will soon run out assuming this is a legitimate payday loan. Payday loans are regulated in GA and if the lender was not registered in GA then the lender is precluded from collecting the interest.
Absent something in writing, I would not pay the loan if I were you without first talking with an attorney. You can also read articles at my website about reviving the statute of limitations on a debt by making a payment.
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