I took out a loan from American Web Loan back in Aug. 2012. I did not pay and this loan has been given to a company called Nationwide and they are charging me 14. and if I dont pay a locator will come to my job and give me papers or something? Nationwide really could not tell me much just that I would be charged with Fraud. I have already paid them $4. my original loan was for $5.. What bothers me is they can not provide me with any paperwork. I have no problem paying them back just would like some answers on who these people are and why they have to treat me like crap.
2
✅ Answers
Without seeing exactly what you signed with the school, it’s difficult to give you an accurate answer. It probably states that they will only cover “reasonable and customary” which is usually not even close to “resonable and customary”. Anyway, you will probably be responsible for that amount, unless you can take it directly to the school and inquire about them picking up that amount (not likely). Call the dr’s office and see what arrangements can be made to make small payments. As for the $504, that amount sounds like it should be a contractual writeoff that the hospital missed, which happens frequently. To rectify that, it is best if you can get a copy of the Explanation of Benefits from the insurance company showing how it was paid. The discounted amount should be listed there. Call the hospital billing dept. and explain that a discount was missed and the account went to collection. If they need the EOB, you can fax it or mail it, possibly even take it in. Whatever you do, make sure you get the name and phone number of whoever you speak with and ask them to contact the collection agency to reverse the account. It is a good idea to get proof from the hospital that the account is a zero balance. After you get the proof that the account is zero, call the collection agency and ask them to take this off your credit report and get that in writing as well.
Is this a payday loan? It sounds like some very aggressive, hard core collection tactics bordering if not overstepping the rules.
You are obligated to pay back whatever you can negotiate the settlement down to. While the high interest rate of a payday loan would certainly add up quickly, you can probably settle this for a couple hundred dollars. But it will be difficult to deal with a collection agency who threatens arrest (a bogus and illegal threat).
you may want to read up on the FDCPA: http://www.yourcollectionrights.com/page/FDCPA-Fai…
Source(s): BD