NY Laws
Date: Thu, 01/15/2009 - 12:50
Thank you. Do you know how this applies to loans that were made
Thank you. Do you know how this applies to loans that were made over the phone?
All pay day loans are illegal in the state of NY. If you got pay
All pay day loans are illegal in the state of NY. If you got pay day loans over the phone it does not matter. They are still illegal.
Hi, It doesn't matter, they are all illegal in NY.
Hi,
It doesn't matter, they are all illegal in NY.
I signed up with town and country yesterday and closed my checki
I signed up with town and country yesterday and closed my checking account today. I expect to start receiviing phone calls next Fri when no ACH paydayloan debits go through. SInce all paydayloans are illegal in NY whether by phone or computer------I THINK------does anyone have any advice I should tell these collectors?
Should i act like I know more then they do and just avise them to T&C?
Quote:do you think they can put me in jail if i do not pay the l
Quote:
do you think they can put me in jail if i do not pay the loan intime? |
A little more information is required before we can advise you. People don't go to jail for owing a debt, and especially for not paying on time, there is no such law to back that up. What state are you in?
I have a payday loan with DJR Group. My loan was for $200 and I
I have a payday loan with DJR Group. My loan was for $200 and I have paid them $480.00. I finally had to go to the bank and have them put a stop payment on my checking account. I also wrote to the BBB and the FTC but have not heard anything from them. They told me that seeing I had signed a contract with them I am obligated to pay. I live in New York State and found out that payday loans are illegal in my state. But they don't seem to care. Any help on this would be great.
Quote:Originally Posted by AnonymousI have a payday loan with DJ
Quote:
Originally Posted by Anonymous I have a payday loan with DJR Group. My loan was for $200 and I have paid them $480.00. I finally had to go to the bank and have them put a stop payment on my checking account. I also wrote to the BBB and the FTC but have not heard anything from them. They told me that seeing I had signed a contract with them I am obligated to pay. I live in New York State and found out that payday loans are illegal in my state. But they don't seem to care. Any help on this would be great. |
CLOSE YOUR ACCOUNT!
CLICK HERE to find out how to deal with illegal lenders.
Quote:Originally Posted by AnonymousI have a payday loan with DJ
Quote:
Originally Posted by Anonymous I have a payday loan with DJR Group. My loan was for $200 and I have paid them $480.00. I finally had to go to the bank and have them put a stop payment on my checking account. I also wrote to the BBB and the FTC but have not heard anything from them. They told me that seeing I had signed a contract with them I am obligated to pay. I live in New York State and found out that payday loans are illegal in my state. But they don't seem to care. Any help on this would be great. |
who said you are obligated to pay the bank?then do as shazzers advised.close that account,and open a new one at a different bank.also let the DFI know that this bank is acting this way.
Thank you for all the help everybody. In regards to my posting
Thank you for all the help everybody. In regards to my posting of yesterday regarding DJR group, they are the ones saying that since I signed a contract with them I am to obligated to the rules of the contract. I still haven't heard anything from them as of today.
Quote:Originally Posted by AnonymousThank you for all the help e
Quote:
Originally Posted by Anonymous Thank you for all the help everybody. In regards to my posting of yesterday regarding DJR group, they are the ones saying that since I signed a contract with them I am to obligated to the rules of the contract. I still haven't heard anything from them as of today. |
Just tell them your state law prevails, period.