Help!!! My sister took out an online payday loan from B.I.G. Loans and now she can't get a hold of them.?

Question

She took out a $500 loan and she thought they would just take it out of her next paycheck. Well, I guess you have to fax them in writing two days before your payday and tell them that you want to pay it off. If not, then they just take out $80, which does not go toward any of your loan. The fax number she has is always busy. We can't find a phone number for them. She asked the bank if they could get contact info for the loan company, they said that all they have is the name that the ACH comes through with, which is "BIG". Does anyone have any suggestions?

Answer 1

How did she get the loan in the first place?

Was it over the internet? If so, that was a mistake. In fact, it was a mistake to get a payday loan anyway.

I would keep trying the fax number. I would also consider finding a lawyer to help you on this. That $500 can balloon up to a gigantic size with all of the fees that these shady outfits like to charge. There is a reason why they are outlawed in 12 states.

In fact, what state does she live in? If she is in Arkansas (though the legality is being contested in the courts); Connecticut, Georgia, Maine, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Vermont, West Virginia, then she should contact the state's attorney general. In fact, that may not be a bad idea even if the payday loan is legal in your state.

Here is a site that has quite a bit of information about payday loans.
http://www.affil.org/consumer_rsc/payday.php

Answer 2

My only recommendation is to save all paper work and the website where this loan was taken from. Print the website also and check the copyright date.

With this information, you may end up having to file a report to the police for fraud loans and such. I have read articles that there are many scam artist out there and things like this can destroy credit ratings and make things worst. Discuss this with your bank for more options to see what to do.

Answer 3

tell her to get on their website and look for a number of some kind... she must have talked to someone, no??