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 Posted: Thu Jul 19, 2007 11:15 am Subject: Pay Day Loans charge a horrendous interest rate
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Hi:
I have several pay day loans that I need to get rid off. As I read messages in this forum, a lot of people are on the same situation. I would like to know if there is a way to consolidate payday loans into one payment the way is done with credit cards and other debts. These companies charges a horrendous interest rate. Any help provided will be greatly appreciated. Thanks.
PS: I live in NY
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laloca0610
Joined: 19 Jul 2007
Posts: 1
Debtcc Points: 5
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Posted: Thu Jul 19, 2007 11:18 am Subject:
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Welcome to the forums! Payday loans are illegal in New York, so consolidation is not your only option to take care of these. Can you let us know which companies you have, how much the original loan was, and how much you have paid so far?
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joshua1987tree
Joined: 01 Jun 2007
Posts: 487
Debtcc Points: 7999
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Posted: Thu Jul 19, 2007 12:12 pm Subject:
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Which pdl companies are you dealing with?
Since payday loan lending is illegal in New York, you are just liable to pay back the principal amount. You are legally not obligated to pay their interest charges and fees.
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BKP
Joined: 19 Oct 2005
Posts: 242
Debtcc Points: 3532
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