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 Posted: Tue Jan 22, 2008 11:15 am |
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This is my first day after closing my checking account and all the calls are coming in. Ann from Speedy has already tried to contacted the business office at my job. I'm beginning to panic. I don't have all the addresses yet. It will take me several days to get letters out. I think I may have to contact a lawyer. My nerves can't take any more. Does anyone have any idea how much that would cost? I found someone from the National Association of Consumer Advocates who is close to me. Please give me some advice. Mine are all internet loans.
I have 7 Payday loans and I live in New York. Here is
have 7 Payday loans and I live in New York. Here is the list of my loans and what I've paid:
United Cash Loans, 200 paid 665, 250 paid 625, 300 paid 0 (new)
500 Fast Cash 400 paid 1420, 450 paid 540
Ameriloan 300 paid 885, 350 paid 715
National Money Store 450 paid 1368
Speedy Payday Loan 275 paid 0 (new)
Payday Loan Services 500 paid 0 (new)
NLS Payday 275 paid 0 (new)
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nmarguerite
Joined: 08 Nov 2006
Posts: 6
Debtcc Points: 240
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| Posted: Tue Jan 22, 2008 11:20 am |
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I also live in New york, and these loans are not legal in our state. We do advocate paying back the amount borrowed. Here are the laws for NY
| Quote: | New York State Information
Legal Status: Prohibited
Citation:
Licensed lender law applies but interest rate is that agreed to by contract. N.Y. Banking Law § 340 et seq. A check casher licensee cannot make loans nor cash or advance any moneys on a post dated check unless it is a payroll check. N.Y. Banking Law § 373. Criminal law sets the usury cap at 25%. N.Y. Penal Code § 190.40.
Small Loan Rate Cap
25% per year
Where to Complain, Get Information:
Regulator: New York State Banking Department
Address: One State Street New York NY 10004
Phone: 1-877-BANK-NYS
Fax:
Regulatory Contact: Regina A. Stone Deputy Superintendent
Regulator’s Website
Complaint Form
Complaint Instructions
Online Resources:
Consumer Help and Information – Informational Brochures
http://www.banking.state.ny.us/ |
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38905
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| Posted: Tue Jan 22, 2008 1:06 pm |
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listen to kash!
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jaydanielle1
Joined: 24 Oct 2007
Posts: 553
Debtcc Points: 5761
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| Posted: Tue Jan 22, 2008 1:24 pm |
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You have way over paid some of them. Go after them for a refund of all but the principal. Turn it right back on them. Use the money to recoup some of what you should pay the ones you still owe on. They are all illegal so they have no legal means of forcing you to go by their rules. As far as the lawyer goes I do not know what they charge. If there was grounds for a suit they may take it on a contingency basis. There does not appear to me that there is a clear cut possibility of a suit. Hopefully someone with better knowledge of the situation will come along.
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frogpatch
Moderator
Joined: 09 Apr 2007
Posts: 3573
Debtcc Points: 30245
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