PLEASE HELP
Date: Thu, 09/25/2008 - 20:10
Usfastcash- 585.00
Yes loan 625.00
Paradise cash 500.00
Unitedcashloans 520.00
Paragon funds 260.00
One more i don't remeber the name is 260.00
i'm going crazy what to do please someone help bronx, new york here
thank you
mel
Please Help
I know that United Cash is not license, but first close you checking account and open a new one so they will not be able to debit your account and leave it empty and do not give them any information on the new account. Send them a letter (see templates) I am sorry I don't have the links but someone else might be able to give you more information about the other pdl you have and the link for the letters, then file a complaint with the attorney general of your state and the BBB
Please Help
I looked at one copy I had also send a copy to you bank, make one letter to each of your PDLs,
"I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account at all. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution.
You have taken too many payday loans. I'm so sorry to hear that.
You have taken too many payday loans. I'm so sorry to hear that.
Let me give you the pdl laws applicable in New York:-
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 |
As Payday lending is prohibited in NY, so you're obliged to payoff the principle amount only to these companies. If these companies try to collect more than the principle amount then you can complain against that pdl company to the following: -
Quote:
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 |
You can also follow the steps given in the following thread: -
You can follow these steps if pdls are not allowed in your state
