6 Loans in NJ (A on BBB)

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Sub: 6 Loans in NJ

Mon, 07/02/2012 - 12:42

My wife got herself into a bit of trouble with these loans and just came clean to me about it today. She has left herself in a position where a majority of her paychecks are going to these loans and since my business recently went belly up we have no money coming in. I found out these loans were illegal in NJ and need to find out what the next step is in regards to these absurd charges she is paying for these loans. The information is below with the name, how much she borrowed and how much she paid back. If you need more info, please let me know.

Fast & Reliable
Borrowed: 500
Paid Back: Nothing, starts this Friday

Cash in a Wink
Borrowed: $400
Paid Back: $120

Pepper Cash
Borrowed $400
Paid Back: $280

Integrity Advance
Borrowed: $500
Paid back: Starts this Friday

US Fast Cash
Borrowed: 600
Paid Back: At Least 600

United Cash Loans
Borrowed: 500
Paid Back: At least 500

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LYNNINMN@AOL.COM

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Sub: #1 The link in my signature line has the instructions on how to deaMon, 06/18/2012 - 17:06

The link in my signature line has the instructions on how to dea

The link in my signature line has the instructions on how to deal with these lenders. Follow all of the steps.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html

thomamon

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Sub: #2 Thanks, We are going to do this, but my wife is concerned becaMon, 06/18/2012 - 21:47

Thanks, We are going to do this, but my wife is concerned beca

Thanks,

We are going to do this, but my wife is concerned because she can get in big trouble about getting phone calls at work.

Any idea on where the exact law in New Jersey is?

This whole situation is a mess and beyond frustrating.

Thanks for your help

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LYNNINMN@AOL.COM

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Sub: #3 New Jersey Payday Loan Laws State Legal Status Lending of paTue, 06/19/2012 - 06:04

New Jersey Payday Loan Laws State Legal Status Lending of pa

New Jersey Payday Loan Laws

State Legal Status
Lending of payday loan is considered prohibited in the State of New Jersey.

Interest rate cap on small loans
30%per annum

File your Complaint and get Information

Regulator - New Jersey Department of Banking and Insurance
Address - 20 West State St. Trenton NJ 08625
Phone - (609) 292-5360
Fax - (609) 292-5461
Regulatory Contact - Ludi Hughes Assistant Commissioner

thomamon

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Sub: #4 Well, we just got back from the bank. We closed one account andTue, 06/19/2012 - 12:52

Well, we just got back from the bank. We closed one account and

Well, we just got back from the bank.

We closed one account and the lady said that if a charge comes through, they may reopen it and charge us for it? Plus the bank fees? Is that possible???

The other one we shut ACH for each of the remaining four accounts, but we had to pay $33.00 per paydayloan to do that.

Very frustrating, but I guess 33 is better then the other charges.

OhioGal1

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Sub: #5 You need to go back to the bank and ensure (get it in writing) tTue, 06/19/2012 - 13:08

You need to go back to the bank and ensure (get it in writing) t

You need to go back to the bank and ensure (get it in writing) that no transaction will reopen your account. You're closing it for your protection. If they cannot "close" it completely right now, ask that until it's fully closed, it's put into a "deposit only" status so that anything presented other than a deposit will be returned unpaid, with no fees.

How to Deal with Unlicensed/Illegal Payday Lenders - Step by Step Instructions

I am not an attorney. I am not offering legal advice. The information and ideas I share are my opinion only and do not necessarily reflect the opinion(s) of the owners of this website.

thomamon

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Sub: #6 How do you get that done if they tell me it may not be done. Tue, 06/19/2012 - 14:37

How do you get that done if they tell me it may not be done.

Very frustrating.

thomamon

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Sub: #7 Well I have written two e-mails so far... One to US Fast Cash anTue, 06/19/2012 - 16:29

Well I have written two e-mails so far... One to US Fast Cash an

Well I have written two e-mails so far... One to US Fast Cash and and to United Cash Loans. They were over paid 565 and 585 respectively. Do we really stand a chance of getting the over payment of refund?

My wife is terrified of them coming after her and that they can still do something by law. What do we do if they do come after us?

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LYNNINMN@AOL.COM

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Sub: #8 There should be no charge for ACH revocation..,,it is YOUR RIGHTTue, 06/19/2012 - 16:58

There should be no charge for ACH revocation..,,it is YOUR RIGHT

There should be no charge for ACH revocation..,,it is YOUR RIGHT under federal law. You should go back and fight that charge.

Maybe a little fear is good for your wife. But between you and us, even if they attempt to sue, your defense would be that the contract is invalid because the state of NJ prohibits this time of lending. Pretty simple.

thomamon

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Sub: #9 I agree about the fear. I hope the letters work, getting the reTue, 06/19/2012 - 17:50

I agree about the fear. I hope the letters work, getting the re

I agree about the fear. I hope the letters work, getting the refund would be a great help right now with our finances.

Is there anything I can do to show them that they should not charge me for the ACH Revokation?

They put it through as a stop payment on all future payments from those 4 company's on that account. Is that correct??

I can't thank you enough for your help, you have been a blessing during this rough period.

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LYNNINMN@AOL.COM

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Sub: #10 ACH revocation is different from stop pay. I worked at wells...tTue, 06/19/2012 - 18:13

ACH revocation is different from stop pay. I worked at wells...t

ACH revocation is different from stop pay. I worked at wells...they were coded completely different. We charged for stop pays....ACH revoctions are different...you dont pay for those.