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Gerald, Esq
Gerald, Esq, Lawyer
Category: Legal
Satisfied Customers: 3428
Experience:  30 years of experience
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I have a question so I took out a small payday loan in 2010

Customer Question

I have a question so I took out a small payday loan in 2010 when I lived in Virginia for like 200.00. And was put into a situation where I couldn't pay it back due to living situation. Long story short a place called Drs processing LLC said I had to pay the money or the company would take me to court . So I agreed I would make payments to them haven't given them any information yet . But my friend who's a lawyer told me they were past the "Statutes of limitations which is 5 years . Now if was 2010 now it's 2016 and this is the first time hearing about this . Am I going to get arrested for not paying this back .
Submitted: 1 year ago.
Category: Legal
Expert:  Gerald, Esq replied 1 year ago.

Hello,

Thank you for using Just Answer. I want to provide you the best service I can. Please feel free to ask any follow up questions you have.

I am an attorney with 30 years of experience; I hope to provide you information that will help you in resolving your question.

You can not get arrested for not paying on a loan. Anyone who threatens you with criminal action in trying to collect a debt is violating the federal Fair Debt Collection Practices Act. You actually can sue them for violating that law. Here is information on the law:

https://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-debt-collection-practices-act-text

http://www.nolo.com/legal-encyclopedia/damages-fdcpa-violations.html

Also if the Statute of Limitations has passed, then the loan is un-collectible. This means you do NOT have to pay it. In fact making payments on a time barred loan can revive it, So you do NOT want to do that. The statute of limitations on debt in Va is five years. So it sounds like the debt is time barred.

Send a letter certified mail denying the debt and stating it is time barred. State that attempts to collect it are considered a violation of the Fair Debt Collection Practices Act.

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Good luck.

Please note: Information is educational and not given as legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing.