Thank you guys so much. I am also taking action!

I have this kind of call. I had someone named Ms. Adams. I have put in a complaint to the FTC as well as the BBB. They got $65 from me but I have cancelled the card so they will not get the next payment.

I got a call from an "investigator" at National Asset Recovery Systems stating that I owe for a Payday loan from 2007. I asked her to verify the debt and all she sent me was a email from her company stating that "her client" shows I have a orginial debt of $1500. I contacted the orginal company that I took the payday loan out with and they said that my orginal debt was only $425, she confirmed that my loan had been sold in 2008 to a collection agency. The lady at the Pay Day Loan company assured me that they have no legal rights to any money that is collected and that they are not trying to prosecute me for anything. She also said that they do not hire "investigators" to look for anyone. She said what this company is doing is illegal and to report them immediatly to the FTC.

Great! thanks for all the info. I am searching for a attorney right now. I have been able to stop the payment of $250 from going through. I also changed my phone number so these people cannot call me anymore. I appreciate all the help

Wait, there are 2 of them.  These guys are even worse than the others.  Some of the complaints about the other company may be theirs.

http://www.bbb.org/atlanta/business-reviews/c ... oss-ga-16001411

National Asset Recovery, Inc.
Find a Location
Phone: (678) 578-1800
Fax: (678) 578-1801
PO Box 924047, Norcross, GA 30010
http://www.narincorporated.com

It sounds like it wasn't a consumer attorney you talked to, that's what you need.

http://www.bbb.org/stlouis/business-reviews/c ... es-mo-310010882

Check out
http://creditboards.com/forums/
all kinds of good information on how to handle this scum.  It looks like they are affiliated with Pinnacle Financial, bottom feeding, scum of the earth junk debt buyers.

National Asset Recovery Systems
20 Corporate Hills Drive
St Charles Mo 63301

The first thing you need to do is check the exact date the loan became delinquent, unless you paid it back before.  You need to know what kind of loan a payday loan is in your state and check to see if the statute of limitations has passed.  If the SOL has passed, they have misrepresented the status of the debt in a blatant attempt to re-age it by getting you to make a payment by means of extortion.  If they did that, they need to be called on it and give your money back. Waste no time disputing the debt by certified mail.
These people have violated the FDCPA and you can sue them just for telling you that you will be prosecuted for check fraud and that Kentucky laws don't apply.  You can get more money than you owe on the loan, plus attorney fees.
I hope your lawyer is mean.

Karen,

Take time to follow my post as "Frank" here -- http://800notes.com/Phone.aspx/1-877-933-4846 -- do your homework and don't sweat it. Good luck.

The attorney I spoke with said that unless I did committ some kind of actual fraud when I took out the loan that it was just a collection agency using scare tactics. I have called the actual orginial loan company several times this morning to try to get answers and I can't reach a actual person. I keep getting a message saying to leave a message. I was wondering if it would do any good to contact the Georgia State Police and see if they have received any complaints about this company.

Sounds like a scam to me... check the different threads on PAYDAY LOAN SCAMS... if is a true collection agency they violated the FDCPA by threatening you with arrest and failing to send you the proof you want.

Smoke hunter: thanks for the reply back. Everything in me told me that is was a legit call. But when someone threatens you will a arrest warrant its pretty scary. She had all the correct info. She did email me a form with the orginal companys name and loan amount, but to me that doesn't prove a thing. When I asked her for a copy of the orginal documents she said that the only way I could get it was after they filed criminal charges. I have tried calling the orginal company to get information. I went to the store and they were able to pull the account up showing the $425 loan, but not showing that any legal action was binding. I am now trying to reach corporate. I have also spoke with a attorney this morning and she did admit this was illegal but very hard to prove. She said unless they can prove I actually committed fraud that nothing can be done. I am willing to pay the loan back, but I want to ensure the correct people get the money and that I am no longer threatened. I sent a complaint into the FTC earlier as well. thanks for your response back.

Contact the loan company you received the loan from. If you owe them, pay them. If the loan has been paid then what we have here is just another bottom-feeder trying to scam another easy buck. Tell Ms. Booker that she WILL provide you with written documentation (not E-mails) and that she will not receive any more funds from you until she does. Tell her that all your calls at home and work will now be recorded and logged. Use this site and educate yourself as to your rights and do not be intimidated by the bluster and b***s*** used by the degenerate bogus debt collectors. Without due process threats of arrest are illegal and laughable. Threats of lawsuits are also illegal unless followed through with and garnishment of wages can only occur after court order. When it comes to bogus debt collectors, being a scum-bag is generally the rule not the exception. If it will make you feel more comfortable by all means contact an Attorney. He will more than likely (after snickering) advise you to simply ignore these parasites. And I hope that he won't charge you. You've already been used.

Lady by the name of Ms Booker keeps calling me saying she is from National Asset Recovery Systems claiming I took out a payday loan in 2007 (which I did) but saying if I do not pay this back within 24 hours it will be turned over to the county I live in to have me prosecuted for check fraud. She says it does not fall under the Ky state payday loan laws, that it is a federal bankt that I acquired the loan from therefore it is check fraud. I haven't been able to contact a lawyer about this as of yet because it was Friday when she called. She was very convincing and I went on and paid $250 and she is expecting the other $500 by the end of this month. Has anyone else got this type of call? She says she is a investigator for the pay day loan company where I got the loan from.