Lenders Will Use Illegal Tactics To Collect
A pay day loan can only be collected by the same methods used to collect other such debts. Sometimes a borrower will default on a post-dated check which he wrote to the lender to cover a pay day loan. When this happens some of the lenders will make a threat of criminal prosecution for check fraud against the borrower. Borrowers should beware that aggressive collection practices such as these are illegal in a great number of areas and has caused regulatory action to be taken to control the situation.
