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Debtconsolidationcare.com - the USA consumer forum

Payday Loans in NY

Date: Sat, 01/17/2009 - 08:48

Submitted by ajrandolph11
on Sat, 01/17/2009 - 08:48

Posts: 3 Credits: [Donate]

Total Replies: 5


I have taken out several payday loans, and have paid well over the amounts borrowed. How do I get them to stop taking money out of my account?


First of all, please list the following information so we can help you.
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.
I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it!


lrhall41

Submitted by Shazzers on Sat, 01/17/2009 - 08:56

( Posts: 17344 | Credits: )


Small Loan Rate Cap

Quote:

New York State Information

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
Regulator???s Website


lrhall41

Submitted by Shazzers on Sat, 01/17/2009 - 08:57

( Posts: 17344 | Credits: )


i am in New York, and they are all on the internet. I never realized how much over i have paid already!

ameriloan.com
borrowed 325, have paid 500.00 already

united cash loans
borrowed 260, have paid 530.00 already

payday services
borrowed 525, have paid 650.00 already

instant cash usa
borrowed 325, have paid 450.00 already

emerald marketing
borrowed 250, have paid 480.00 already

a2bcash.com
borrowed 260, have paid 1184.00 already!this one was last june and they are still taking money out of my account.


lrhall41

Submitted by ajrandolph11 on Sat, 01/17/2009 - 09:28

( Posts: 3 | Credits: )


i did the same thing with 5 different pdl's. I called my bank and they told me to do a revoke on ach withdrawls from my account. What that does is stop any one no matter who from taking money from the account electronically. Call your bank and see if they offer this.


lrhall41

Submitted by on Tue, 08/04/2009 - 10:27

( Posts: | Credits: )


I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it! CLICK HERE to find out how to deal with illegal lenders.


lrhall41

Submitted by Shazzers on Tue, 08/04/2009 - 18:30

( Posts: 17344 | Credits: )