I received a call from a " server '' by the name of XXXX XXXX, who contacted me via an unlisted number, stating that he had papers to serve me regarding a payday loan that I supposedly received through an old bank account in 2011. He then provided me with a number to contact the collection agency in charge of the claim to settle the debt. The number provided was XXXX and it led me to a company called Lakefront Processing Solutions, a collection firm in New York. I spoke with a man by the name of XXXX XXXX who went on to explain that I owed some payday company the sum of {$600.00} dollars for defaulting on a loan that I never actually signed for and that I was to be charged with fraud and breach of trust ( He spoke so quickly that I could n't understand half of what he was saying ). I never received any documentation regarding these supposed charges nor any papers regarding the loan in question. All he did was threaten me with legal action if I did not pay him the settlement amount of {$400.00} dollars over the phone. Like a fool, I gave in to the pressure and fear of legal action and paid the balance. He then told me that if I had any further questions I could contact him or their parent company, National Principle Group ( Which does n't seem to exist, as their website is nowhere to be found ), and informed me that no further action would be taken. This is the XXXX time something like this has happened to me and it needs to stop. The practices these people use are illicit and abusive, and people need to understand that they have their rights concerning matters such as this. I wish I had understood that prior to this transgression, but you live and you learn. I 'm not wholly concerned with getting my money back ; I just want to do my part in ensuring that people like this ca n't prey on the fear of honest people.