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 Posted: Sun Nov 11, 2007 12:52 pm Subject: Help with PAYDAY LOANS
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Hi I need some help here. I'm from ny and has 6 pdl out right now i'm getting killed with the bi-weekly payments anyway someone can tell me what to do to ease me suffering on living paycheck to paycheck to pay back these loans. help.
MTE Financial/ Phoenix debt management - 255
Ambassador Collections - 420
Impactcashusa.com - 390
Worldwide Cash now - 289
Unitedcashloans.com - 560
500 fastcash.com - 390
Can i consolidate my payday loans? and if so where can I find information on it. I,ve already cancelled my bank accounts whats the worst that can happen if i don't return there calls?
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forde27
Joined: 11 Nov 2007
Posts: 8
Debtcc Points: 451
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Posted: Sun Nov 11, 2007 1:13 pm Subject:
Latest Blog Post : Decision |
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Welcome....can you tell us how much you have paid toward each of these including the fee's??? You may not need to consolidate....
| 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
http://www.banking.state.ny.us/ |
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Morningstarr430
Debt Samaritan
Joined: 13 Jun 2007
Posts: 2337
Debtcc Points: 39294
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Posted: Sun Nov 11, 2007 2:29 pm Subject:
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Are these store fronts or internet?
ladybug
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ladybug
Joined: 29 May 2007
Posts: 2759
Debtcc Points: 24754
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Posted: Sun Nov 11, 2007 4:31 pm Subject:
Latest Blog Post : Decision |
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At least 2 of them that I can see I remember as internet loans...if you don't answr any of their attempts to get a hold of you they will begin to call the references you listed when you took out the loan. If you can give us a little more info we can help you find a way clear of these.
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Morningstarr430
Debt Samaritan
Joined: 13 Jun 2007
Posts: 2337
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Posted: Sun Nov 11, 2007 5:13 pm Subject:
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They are all internet as I got a pm from them. I am not very knowledgable about this and do not want to give them wrong advice. I told them someone with more knowledge would be along.
Thanks
ladybug
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ladybug
Joined: 29 May 2007
Posts: 2759
Debtcc Points: 24754
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Posted: Sun Nov 11, 2007 6:47 pm Subject: r
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Yes, these will all be internet loans. If the state prohibits pdls, that means there are no storefronts. Pdls are prohibited = no storefront pdls. This person is in New York. Apparently has already closed their bank account (which is good). forde, you don't have to consolidate your loans. We can help you here. Can you please put the amount that you have paid each of the pdls to date? The total amount paid to each one.
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
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Posted: Sun Nov 11, 2007 8:25 pm Subject: Help with PAYDAY LOANS
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you guys are awesome with the help i need
Took out $300 for each of the following:
500fastcash Owe$390 paid(90,90,90,90)
Impact cash owe$390 paid(140)
MTE Financial Owe$560 paid(90,90,255)
United cashloans owe$420 paid(90,90,140)
Ambassador collections owe$620 paid(90,140,210)
worldwide cash now took out $200 = $289 owe now 429 paid(140,140)
Since NY prohibits pdl's what does that means for me -since all these loans are internet based?
- Do i have to put up with all the phone calls I'm receiving from them to get money?
-Am i in deep shit or what help me ?
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forde
Guest
Debtcc Points: 100
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Posted: Sun Nov 11, 2007 8:53 pm Subject: payday loans
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Anyone Knows where i can find the list of all the internet lenders that are illegal i'm from NY and they prohibits pdl's I think i have 6 pdls
- can someone tell me if i'm in deep crap with the pdl's or since it's prohibited in NY am I safe and have control over the pdl's
my pdl companies are
united cashloans
ambassador collections
mte financial
Impactcash usa
worldwide cash now
500 fastcash
Anyone also knows where i can find or get a letter to sent to the pdl's companies stating that its prohibited in NY and don't want to be harassed?
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forde27
Joined: 11 Nov 2007
Posts: 8
Debtcc Points: 451
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Posted: Mon Nov 12, 2007 7:59 am Subject:
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There isn't a list, because NY doesn't license these companies. No lender is legally licensed to do payday loans in NY.
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goudah2424
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Posted: Mon Nov 12, 2007 10:27 am Subject:
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+3 points for goudah. Here's a link that list out the states where PDLs are illegal:
paydayloaninfo.org/lstatus.cfm
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jedijeff13
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Posted: Mon Nov 12, 2007 11:39 am Subject: r
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forde, have you done anything regarding your bank account so that these pdls can no longer hit it? NY prohibits pdls. You will not find one of your plds as legal to lend to you. You need to prevent them from accessing your bank account any further.
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cannr
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