Payday Loan Ace Check Cashing

Payday Loan Ace Check Cashing

I receive a call from Ace check cashing collection dept re my default payday loan. They told me I had to pay?

I receive a call from Ace check cashing collection dept re my default payday loan. They told me I had to pay
Question Details: 540.00 by the end of the month or they were going have a warrant put out for me for Check Fraud which would hold up to 10 years in prison. The loan was for 200.00 on june of 2007. Can they prosecute me for a payday loan. The collection copy was out of atlanta, I leave in memphis, tn What should I do?

They cannot issue a warrant. There is no private criminal prosecution in the US. Instead, prosecution decisions such as whether to initiate a charge or seek a warrant from a court are made by the DA. In my county the DA refuses to prosecute bad check charges from those places that knowingly take bad checks as part of their business. Many DAs have the same policy. Of course they can start civil proceedings, to sue you for the money, but they won't because the interest on a judgment is only about 10 percent while they charge much much more than that.

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