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Ask Dave

Dealing With Payday Loan Punks

Susan and her husband are debt-free. Earlier this month, they received a past-due payment from a payday lender. They've never had an account with a payday lender. What should they do?

QUESTION: Susan in Texas and her husband are debt-free. Earlier this month, they received a past-due payment from a payday lender. They’ve never had an account with a payday lender, so they sent the lender a request for proof of the debt. They just received a final notice letter in the mail. What should they do? One suggestion quickly comes to Dave’s mind.

ANSWER: Call them and rip their heads off; they’re punks. Your husband might want to call them because the tone of your voice suggests that you don’t like conflict. But he really needs to bust them.

Here’s the problem: Either one of two things has happened here. It’s either identity theft and someone has gotten your numbers and used them there, or it’s a mistaken identity.

Payday lenders are where you write a hot check for $200 that’s not good. They give you $180 in cash and then two weeks later, or whenever the date on the check is, they cash the check. They either have the wrong Susan or someone has stolen a book of your checks and gone in there and written a check. You need to get to the bottom of this, but don’t let them bully you. They’re punks.

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