If you get a call from this company you need to know first and foremost that IT IS A SCAM. Doesn't matter if you've had a payday loan in the past or not - it's still a scam. If you have any doubts, call the original creditor or better yet - call your state's Attorney General office and they will be very quick to tell you the same thing.
If you've already given them bank account info, immediately go to your bank and cancel your card/account and get a new one. This way they won't be able to get any money from you. Check your credit reports for free at annualcreditreport.com and if your financial institution has a credit monitoring program, consider setting that up. Do not sign or agree to anything.
If you decide to continue forward with paying this bogus debt you think you owe, please know that under the Fair Debt Collection Practices Act (FDCPA) they are required within 5 days of first contacting you to provide the amount of the debt, the name of the original creditor and your rights under the FDCPA. They will likely tell you that they've emailed or sent it already but do not do anything until you receive this. It is what is known as a written validation notice. If by some miracle they DO send it, then you should contact the original creditor directly and verify that the involvement of Southern Asset Recovery is valid. You might be better off dealing with them for payments, if they allow it.
Under the law, they cannot threaten you in any way. If they try to tell you that you've committed check fraud or some other crime that will result in you going to jail or taking you to court, tell them they are more than welcome to pursue those avenues. The most they can do is send the account to collections, NOT court. And they are certainly have no authority to arrest you. If it makes you feel better, check your local/county court records online or call them to verify that there are no pending cases against you. The case would go to the court where YOU live, not in Georgia where this company is located.
If you got as far as agreeing to pay and received a payment authorization form, they may have told you that they cannot accept payments directly and instead use a service called Payment Processing.com which is listed on the form. The first clue is that this URL has a space between the two words so right off the bat you know it's not legit; if you do some checking, you'll find that URL doesn't even exist. If they email you the form, it will likely come from an email address ending in remitnow.us. A check of Whois records will tell you that this domain is registered to Southern Asset Recovery. Interesting that they say they can't accept payments, yet they own this domain and its email addresses. Big red flag there. And if you do end up paying them money, you can expect to get more calls in the future because you're not paying a legitimate debt in the first place and it will therefore never be recorded as such. Don't believe them when they say they'll send a letter after payment to say the debt is paid in full.
And one other thing to consider even if you pay a legitimate debt to this place or any other - if you "settle" for a lesser amount than what you actually owed in the first place, you will receive a 1099 form the following year because you have to claim the difference as income. So you're actually losing money by agreeing to settle. If you incurred the debt in the first place, do the right thing and pay it in full even if it means making payments over several months. Most places would rather see the money slowly coming back to them rather than not at all.
The reason these scams keep going on is because places like this are really good at intimidating people into paying. Your best bet, and the advice that your Attorney General's office will give you, is to ignore their calls. Don't waste your time or energy on trying to argue with them or even give them a piece of your mind. They don't care and they'll just move on to the next tactic. You should also register for the Do Not Call List (donotcall.gov) and file a complaint with the feds ().
BBB is a lie this company is registered on the GA Secretary of State website I found out that if you don't pay them money then they print a false score until you do so. Ive paid my debt to Cashnet through this company and got documentation ASAP
I paid this company and was able to take out another loan 24 hours after receiving my paid in full letter they were very informative and helpful
They keep calling saying I owe them money and each time uses a different debt collector name. A scam and I am reporting them to the BBB....