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 Posted: Wed Aug 06, 2008 9:22 pm Subject: NY payday loans |
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I live in New York and I have 7 loans ,
ameriloan 200 pd
Payday2go 300 pd 900
oneclickcash 350 pd 735
nls 275 pd 501
SGQ 200 pd 420
worldwide cash 300 have been paying for a year apx 2314
mte financial 300 pd 150
I have read that in NY they are illegal, but how does that translate in reality? What steps can I take now? If I close my account, I know they will harrass me at work and I am not allowed personal calls at work, so I would lose my job. Please any advice would be greatly appreciated. Thanks
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castaldony
Joined: 06 Aug 2008
Posts: 2
Debtcc Points: 40
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| Posted: Thu Aug 07, 2008 5:18 am Subject: |
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PDL laws in NY are given below: -
| Quote: | 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 |
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phoenix
Joined: 14 May 2008
Posts: 867
Debtcc Points: 5618
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| Posted: Thu Aug 07, 2008 5:26 am Subject: |
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As far I can see from the information given by you, the payments done are much more than the actual borrowing. Closing account is very much justified and is quite a right move. But at the same time your apprehension is also very true.
In such a case you can do a debt settlement of the pdls which in your case will be appropriate, according to me.
You can also get our community's financial expert's opinion on this absolutely free
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phoenix
Joined: 14 May 2008
Posts: 867
Debtcc Points: 5618
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| Posted: Thu Aug 07, 2008 5:33 am Subject: |
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I too live in NY and they are illegal. Closing your bank account really is the only way to stop them from accessing your money. You will also need to send them a C and D letter and file complaints with the Attorney General, the BBB, and the FTC. Some people never receive phone calls from them and I, myself, only received one and then they were settled. I know about the work thing. Don't let that fact intimidate you into giving them whatever they want. I can tell you MTE is illegal everywhere, as is ameriloan and One Click Cash. Those two are part of MNE. Since PDLs are illegal I am assuming that all of these are internet. Correct me if I am wrong. Looks like you have overpaid on all but MTE and you didn't list what you paid on Ameriloan. This board always recommends paying back what was deposited into your account and you have already done that on most so things may not be as bad as you imagined. Hope this info gets you started. Keep us posted and don't hesitate to ask for help.
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llw1995
Joined: 02 Feb 2008
Posts: 1428
Debtcc Points: 13709
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| Posted: Sat Aug 09, 2008 1:18 pm Subject: |
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I live in ny too i ahve several pdl i didnt know it is illegal in ny
so am i to assume that all pdl are illegal here in ny what does that mean that i dont have to pay the hi interest on them i assume the principal yes i am a bit confuse these pdls are getting me crazy what can i do if i close my bank account is that a start and just try and pay off the principal how do i deal withthese people
i have the following
quickest cash advance
nation wide cash
cash direct express
my cash now
discount advances
cash banc
quickest cash advance
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crg
Guest
Debtcc Points: 100
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| Posted: Sun Aug 10, 2008 7:06 pm Subject: |
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Thanks so much. I have closed the account. Now hopefully they wont call my job. As for the C&D letters any suggestions on where tolocate the addresses?
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castaldony
Joined: 06 Aug 2008
Posts: 2
Debtcc Points: 40
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| Posted: Sun Aug 10, 2008 9:12 pm Subject: |
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ameriloan
3531 P Street NW Miami, OK 74355
Phone 800-362-9090
PayDay2Go
10605 Concord St. Ste 203
Kensington, Maryland 20895
OneClickCash
CustomerService(at)oneclickcash.com
compliancedepartment(at)oneclickcash.com
FinalCollections(at)oneclickcash.com
1-800-825-0441
NLS also known as cashadvance
1-877-995-1400
SGQ Processing
info(at)sgqprocessing.com
appinfo(at)thebmggroup.com
Phone: 1-866-828-6351
Fax: 1- 866-828-6352
World Wide Cash Now (Telmerica)
2207 Concord Pike #449
Wilmington, DE 19803
MTE
compliancedepartment(at)mtefs.com
Rio Resources/MTE Financial Services
147 Eubank Blvd NE
Albuquerque, NM 87123
Phone: 866-859-6129
Fax: 866-668-0535
_________________
Online Complaints Ohio Attorney General
Online complaints: Federal Trade Commission.
Ohio Payday Loan Laws
Ohio Consumer Protection Law
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4578
Debtcc Points: 28712
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| Posted: Wed Nov 19, 2008 12:08 pm Subject: SGQ Ltd |
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I just located the following for SGQ - I have no idea if it's valid: SGQ Processing
55 Fredricks Street, POCV
Nassau, Bahamas 13039
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kimmers971
Joined: 19 Nov 2008
Posts: 3
Debtcc Points: 33
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