Tammy,

What recourse do people have if the pdls are Internet based, they have paid their principal, and are in a state where pdls are illegal (NY)?

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ACHDUDE, You have plenty of recourse the law is already on your side. Contact the AG office in your state immediately. Consumer division and file a complaint. Go to www.paydayloaninfo.org and get your laws and send it to these vultures. If you have paid back principal be done with it. No more. KYSIDE38

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RYDERS OF THE NIGHT

ACHDude, Do what kyside stated. NY doesn't take knidly to the internet pdls. I know this for a fact as my mom lives in NY and the AG helped her with the ones she had.

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I work for a financial institution in New York where I am the ACH department. I am currently devising a plan to attempt to help my members escape the debt trap escalated by pdls. I am working with the lending department to offer pdl alternative microloans.

Do you think members with these pdls would be put off if I were to send letters to them informing them of the risks of pdls, giving them information and web sites (ie paydayloaninfo.org) and suggesting the institutions alternatives? I don't want to be intrusive, but I consistently have to close their checking accounts because of the negative balances they accumulate via fees and the inability to pay these loans off. I see numerous members stuck in this cycle of pdls and I just want to help.

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Personally I would have found it helpful. In my sitauation I never knew that they were illegal in my state. Kyside38

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RYDERS OF THE NIGHT

MTE Financial IS Instant Cash USA.

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ACHDude

Your intentions of helping people sound good. If you want to provide alternatives to people against payday loans, you have to keep certain points very clear. The payday loan companies are not following the terms properly because of which you find most people in problems.

You will need to mention each and every minute term in the contract. People are not shown the terms made by these loan companies in the proper way. That is the reason of so many disputes on interests and fees with pdl companies.

You have to charge the fees and interests according to the state where the borrower resides. This way, you can win the good trust of people and they will know that your offer is a legitimate one. Basically, you have to create a feeling in them that you are not going to scam them because of their bad credit.

Most people have the intentions to pay their debts back. But there are many companies around who want to take undue advantage of people because they are in their debts and because of bad credit. You have to be different from all so that you win their trust.

Financial problems can occur anytime. If you are willing to give extensions and have patience that you will get your money back from your client, you can think about doing this business.

Of course, we want to hear what you have to say in this. There should be an understanding between the consumer’s point of view and you as a lender offering micro loans. Get everything clear before you put your money.

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i need to know what is my balance on this loan

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I dont know how these people are getting away with this. They have taken out a total of 285.00 plus 4 payments of 60.00 dollars, on top of that they made me overdraft by 310.00 dollars. I dont know what to do or where to even start

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This post is for kashira and monica - Are you also dealing with MTE? Is that the issue you're posting about? Please post with more information and we will be able to help you. What pdl's do you have? What states do you live in?

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