What happens if I don't pay the payday loans

Does anyone know if payday loans are illegal in New York State?

What will happen if I fail to pay my loan.[/b]

I applied for ssd, but no word yet, I get $837.00 in social security...I don't own anything, but I can't pay my bills...too many medical bills/scripts...none will take payments...if I go to court, and still can't pay, will I be in contempt of court and go to jail?

Yes, Pay day loans are prohibited in New York period.

If this is a LEGAL/LICENSED lender, then you can be sued in civil court for nonpayment. This usually is their last resort after many attempts to collect the loan.

If this is a ILLEGAL/UNLICENSED lender then absolutely no legal action can be taken against you. They will threaten and try to intimidate you into paying, but they have no Legal recourse without a valid license to lend. Some Illegal lenders will report you to teletrack and possibly try to report you to the credit bureaus. You are morally obligated to pay what you borrowed, meaning the principal only.

Whatever you do please show up in court when being sued by a creditor. If you are a no show the other party will get a default judgment against you. You cannot go to jail over a debt.

When you get SSD, that money will be safe from judgments. If you do not own your hiome, there is not much that they can do if they are a legal lender.

I have a payday loan with ace that I was not able to pay back for 376.00 they call me at work and talk to my boss to tell her about my loan with theme and told me that they was going on my job. Can they do this can they come on my job like that

No they cannot. File a complaint with the your AG and FTC.

I USA FAST CASH (an internet company) licensed in S.C.?

Is USA FAST CASH licensed in S.C. ???

do you mean US FASTCASH?if so,then no.they are not legal anywhere.

US Fast Cash isnt legal? I did not know that.

I am kind of in the same situation. I get paid on friday and I have to pay 3 internet payday loan lenders and 1 storefront lender. I won't be able to pay my mortgage because I don't have enough money. What can I do?

I live in Texas. I presently have 2 loans: Zip 19-$1000,
Cash Net-$800. I am going through some really hard times. I am trying to pay but it seems, I can't even keep up with the fees my bank is charging me every time for ACH fees.
Help can they garnish my wages? I am really do want to pay, I am just in a bad situation right now. Any suggestions.

it is not a felony!! this is a scare tactic! dont be fooled. tell them you are willing to make arrangements. if they refuse, close your checking account and open another for your every day business before this company does any damage to your account and/or finances by trying to deposit those checks.

Most of the PDL companies are unwilling to make any type of arrangements if you are current on your loan. Only when in default are willing to make extended payment plans.

I would check on the PDL laws for the state you are in. If there is nothing in law reguarding criminal prosecution for closing your checking account due to PDL, then I would close the account.

The first thing to keep in mind is to protect the funds you have! And the money you are paying each and every time for NSFs could be well used.

If there is a law reguarding criminal prosecution due to closed account, I would draft copies of "revoke ach transaction agreement" letters and send one to the PDL companies. Also, go to your bank and talk to the mananger, explain your situation. Give the manager a copy of the revoke ach transaction agreement. Tell them to put a hard block on your account not allowing ANY debits or deposits. Basically freezes the account as it will be unuseable.

It is your right under federal law to revoke an ach transaction agreement at any time you wish. So know your rights! The PDL companies will try and tell you that you cant revoke the agreement because you signed a legal binding contract. Well, you actually did, and at the time of signing the contract you did agree. However, circumstances with your funds has made you change your mind.

Go to another bank and open a new account. Do NOT give out any information about the new account.

Once the PDL companies are unable to hit your account via ach transactions, the calls will START.

Now is when you can try making payment arrangements, and begin settlement. Make sure all of the PDL companies are "legal & licensed" to lend in your state. If not you only owe the original amount borrowed, and nothing more!

They are not allowed to harass or threaten you! You can not be arrested for a PDL, it is a civil matter, not criminal. If they harass and threaten you send them cease and distist letters.