Stop paying your illegal payday loans !!!!

Yes, jonboy. That would be nice. However, they will still harrass you. They will still turn you over to illegal collection agencies. They will still report to your credit bureaus. Yes, this is all illegal. So it's a continuing battle. So you don't pay them. That doesn't make them go away. It just starts the whole "fight process" all over again only with regards to illegal collection agencies and disputing amounts on your credit reports. Oh. And did I mention putting through wage assignments to your employers? It would be wonderful to say "just don't pay them and they can't do shit". However, as we are finding out, we are now being turned over to illegal agencies, negative marks are being put on our credit reports, and wage assignments are being sent to our employers.

Hi jonboy-These pdl's are are illegal as the fees they charge and unfortunately they have no issue continuing to be illegal...like harrassment and reporting illegal loans to the credit bureaus. But I like your posture on this issue :wink:

You should register and help us out here...

Well that suks. I didnt think they could report you to the credit bureau. I havent gotten that far in my collection activity. And how do they do a wage assignment without a judgement? My loan was with mycashnow and I never signed any wage assignment authorization

mycashnow? okay...what state are you in? How much have you paid so far?

New York and I paid back about 500 and I owe them another 1400

jonboy, not all pdl's do wage assignments. Wage assignments are different from wage garnishment. Assignments are voluntary through your employer. However, most employers don't know it's voluntary and honor them. Garnishment is by court order only. And they will send you to illegal collection agencies. And they will report to the credit bureaus. Yes, all of this is illegal. So, the battle continues. The phone calls will keep coming. The threatening emails will keep coming. You'll receive correspondence from collection agencies that are the scum of the earth. You will be shocked to see an illegal pdl on your credit report. It seems to be never ending. Once the battle starts, you have to be up for it for quite awhile. As they are illegal, they have no problem continuing to act illegally. Why would they stop? They're already breaking every law. Why not continue to do so? So that's exactly what they do.

I guess I should send out the cease and desist letter tomorrow??? Or do they just ignor them and violate Federal law?

jonboy, wait a minute. Is this an internet loan? I am assuming so since pdl's are prohibited in New York. I'm posting this for you to see.

You will find the Payday loan New York here (just select your state),

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I do believe that mperez, jen, and kash are all in New York. They can probably give you more information regarding this matter.

Nice job cannr!

Jonboy-what was the original amount of the loan and then what are the fees?

original loan was 700 and the fees ate about 900 so total is about 1700

jonboy, are you "done" with them? Or are they still debting your account? Or have you closed your account?

jonboy-any possiblity you can register? That way we can message you with letters you can use and more info...

As cannr mentioned, are they still debiting?

jonboy, I'm confused. In your first post you stated paid 500 and paid 1400. Then in your other post you stated different dollar amounts. Can you please clarify?

Jonboy, I am from NY. First of all if the loan was for 700.00 and you have already paid back 500.00 you actually ONLY owe 200.00 . That would pay your principle . That is all you owe. I always say that morally you do need to pay back the principle. They did give you the money, and you did use it. Its a judgement call, but most of us do repay the borrowed amount.
Jonboy, have you closed your accout yet , to avoid having more money debited?
We do suggest that you do this. Open a new account at an unrelated bank. This way you can pay them on your own terms.It also gives you back control of yiur money.

yes I will register this evenng, thanks again
and yes my account is closed
do cease and desist letters work with them?

Jon boy, the cease and desist letters may or maynot work with the companies. Most of the time, the letters that are sent to the pdl's by members are not just cease and desist letters. You DO want to send the pdl's letters because they are part of your documentation. Once you register and we can pm you a letter it will be more clear.

I have a great letter that we have used and shared throughout the boards...when you register, send me a PM and I sill send it to you.

Volley you are making me hungry with your avatars.

In the State of New York, legislation was put into place that disallows all payday loans. If you are working with a PDL Internet company that issues you a loan, please contact the Banking Division of the State of New York. It is a criminal offence for a company to do this type of business in New York. I would definitely stop paying the PDL and open a new account.

PDL is correct (as usual!). You need to close your account to prevent the pdl from debiting your account any further. Have you read the "sticky" at the top of this site page regarding closing your account? You need to do this. And you need to post ANY questions regarding it. We can help you. You need to send the letters revoking everything under the sun mainly for your own documentation, to cover your ass, and to use when filing your complaints. You want documentation of EVERYTHING. And, I do mean EVERYTHING. If you have questions regarding the bank issue, the pdl issue, or letters, please post. We can walk you through this. :D

Sorry, jonboy! Just re-read and saw that your bank account is closed. Good job. Now, do you need help with letters or anything else regarding this?

Well I couldnt figure out how to register, so my email address is email address removed for your protection - Goudahif anyone has any advice for my MyCashNow payday loan woes in ny please feel free to email me

pyb- :lol:

Can smeone send me the link to register?
Also, isnt Mycashnow based in Grenada? I would think that would negate them from the laws on the US ?

jonboy, welcome to the world of "illegal overseas pdl's"! Don't you love them? They will insist that the loan is governed by their laws. Ummm.... no.

my cash now
207 1425 Marine Dr
North Vancouver, BC V7P 1T5
Telephone: (866) 392-2274

Talk about nice and illegal.

So if they are in different countries, I would there threats of arrests, prosecution and all the other tactics are null and void. my cash now threatened to have their fraud dept look over my loan for posible fraud, then the email says " the FBI prosecutes internet fraud" (so I am thinking the FBI should arrests the PDL people, lol....I mean its obviously a scare tactic used to freighten the uneducated. I have seen others on here post a similar email, so its clearly a canned email. I guess they will sell my ebt to an American collection agency and I will have to deal with them

jonboy, scare tactics. Tell them you WELCOME the FBI to look into this "fraud" matter. Amazing.

Johnboy - yes my cash now is out of Grenada but they are handled by CPD (Credit Protection Depot) out of Nevada. It doesn't make them any more legal but when you default that is who will be calling. I dealt with them in the beginning because I still owed principle. After I got the principle covered I stopped paying - faxed them a letter stating the NY laws and I haven't heard a word since. That was over six weeks ago. I filed with the NY AG several times and I'm still waiting on a response from my last submission.

Thanks for the info, mperez!

Hi Jonboy. Have you tried to register from the home page? I registered so long ago that I can't quite remember where I went to do it, but I think that is how I became a member. I too dealt with mycashnow and for the most part they were pretty easy to deal with. Much better than some of my others. But, you have an extreme advantage in that your state prohibits pdls. My state still allows them, however, more attention is being paid to their tactics and a couple of class action law suits are in the works.

[font=Arial]Hello everyone I have been reading everyones blogs and they have been giving me very good information. I have a total of 8 loans out. Two of them have went to collections at a law office they keep calling my job harrassing me about the money. I keep telling them I will give it to you when I get it. Its a long story but i was doing good by paying the interest on the loans that I had out next thing you know I realize I am in way over my head, these places kept letting me get the loans even though i had like 3 out. I don't know how I am going to pay off these loans so I can get them off my back. I want to work out a monthly plan with them but they want more than what I can pay.The place that keeps calling me at work is called PDM? Has anyone ever heard of this place, this is where two of my loans got sent to. They say if I can't pay by this date, they are going to call and verify my employment. I I can't let that happen, there has been situations at my job where collections kept calling her and wanted to speak to the supervisor and she got fired.
I am at my wits end with these people. I go to them to get help, and if something happens where I can't pay, they are hounding me like crazy. I have learned my lesson with payday loans that is for sure. If anyone can give me any advice I would greatly appreciate it.
Also you can email me at [email]dezzera@gmail.com[/email], with any information you may have.
Thank you.

Hi Dezza. Can you please tell us what state you are in, the name of the pdl companies, how much borrowed, how much paid and whether they are internet or storefront. We can help you here if you give us the info.

Hello Everyone,
I live in Ohio, I actually was just paying the interest on all the loans that I have out.
B&L Marketing_went to collections
Arrowhead Investment-went to collections $200loan fees $320
Paydayone
MTE Financial
Multiloan source
Loanshop/Longcove
These are all internet payday loans..

Hi Dezza. Some of those are illegal companies. How much did you borrow from each of them and how much interest have you paid? Is your bank account still open? If you can give us the information we can start to help you.

I know this thread is kind of old, but I was wondering how this place my husband went to so he could get help to pay our power bill when the gas prices went crazy, can garnish my husband's check without a court order, just because he could not come up with the full balance two days before christmas, and not only that, but take almost half his check every week when he has a disabled wife and 2 children to take care of plus has to figure out how to get to work and pay bills and put food on the table with the small amount they are leaving him. They have already gotten over twice as much as we borrowed and now they still want another double. It is pure robbery.

Yes they can keep coming, even after you send them cease and desist letters.....TWICE....they'll continue to call. I had one representing e-payday call my house and, when my 10 year old son answered the phone, they told him "You tell your mom she had better pay us or else" and then hang up on him. They're garbage. This happened after I told them I wanted to see what I had signed and to be invoiced monthly so I would be able to keep an accounting of the money being sent to them. Evidently, they didn't like that.

What is the name of the payday loan company? What state are you in?

Are they already garnishing his check? Did you go to civil court and did they get a judgement against you?

i just received a phone call from someone stating that they are a federal officer i could hardley understand him but he said that his name was officer john smith and that i was going to be sorry if i did not pay back the loan back i save the msg, i got a pay day loan from vip out of neveda i live in new york iwill not pay them back another dime after they threathen me