paydayloans in new york state

Payday loans are illegal in the state of New York.

Have you read the sticky on how to deal will illegal payday loans? If not I would start there.

You only owe the principle on these loans.

Definatly make sure your account is secure before contacting them. Make sure you speak to the bank manager and get a confirmation that if these lenders try and debit your account it will not be hit. You may have to close the account.

okay thank you very much, i will be keeping this updated , am going to the bank at 9:30. to stop ach and or close acct then i wilol be contacting the pdl lenders. how do i know that they will apply say the moneyorders to my balances to pay them off if i were to send them. i dont want to send money orders and have it be for nothing. thanks again.

hello.first you don't send a thing without an agreement in writing.these places will fight you there legal status.don't believe a word of it.all your pdl's are illegal.second if these places fight you then get your AG involved.

ok so i have just gotten home from the bank where the asst branch manager sat down with me and filled out the 5 seperate ach revoke forms for each of the above illegal lenders
i explained my situation to her and she was very understanding.

oops i hit submit on accident. now my question is do i send these pdl lenders an email today or do i let this take affect. i dont want to send them the email saying im just going to pay the pricniple and have them try and debit acct today. the mngr of my bank had to fax the forms somewhere so it may take a bit.

A few of your lenders use different names. So ach blocks for these 5 will not work. They will simoly use another one of their names to get your money. You need to either close your account completely otr put a hard block on ALL ach transactions. What you did will just not work. I know its a pain, but you need to do this the right way

once again thanks for the advice. just went back to the bank and completely blocked all ach (ach block) after i recieve my direct deposit from work , i am going to go and close acct completely and reopen a new one. now like i stated above i have paid these people back well over what i borrowed on numerous occasions , should i just suck it up and pay the priciple or try telling some of them ive paid them enough already? thanks.

If you paid back more then what you borrowed, I would tell them to go stuff themselves, and remind them that they are illegal. If they keep harrasing you, contact NY DFI.

how does this letter look to webpayday?

Date: 2/17/09


To : Webpayday


From:
J French
, NY
ss#

http://www.debtconsolidationcare.com/forums/revocation-letter.html
Please read TOS

CLICK HERE to find out how to deal with illegal lenders.

Read your own letter again. I would suggest that you spell out New York and remove any of the remaining underline. Also, CCing the Ohio AG will not do much good. Make these changes, print it out, set it aside for a 1/2 hour and then reread the entire letter to ensure that you are sending them the correct info for your state. If you want them to take your seriously, then you need to be accurate in your documentation.

dammit, i went and changed everything except for ohio and hit send to all pdl. so within minutes i noticed it and changed the ohio to new york and resent. will i still be ok? dam i felt really good before i rushed and did this.

You are fine. They won't read much of it anyway. They are illegal anyway.

They will respond with a template letter and lie that will threaten you with BS.

You are doing fine. Hang in there.

You got the info to them, so you should be fine. My point was just to check and double check what you are sending so that you don't give them an "out".

yes thanks guys, should of taken my time a little more. so anyways. i recently sent them all emails also stating that with further research in the new york state payday laws that i have well overpaid what all my exiting principles are now and that if they will close my acoount paid in full with the proper documentation sent to me that i would not go after a refund , i just want to be done with all of them. so what you are saying is that they will propably send me something saying they are legal and i still have to pay. i really dont mind paying back some of what i borrowed but i want this to just go as quick as possible. what should i be looking to do next. thanks for all the support. definitley feeling better than i have in months.

After going over past records from almost 1year and half, here are some approx figures:

webpayday- borrowed around $2500 paid back $2500 principle wth $1500 int. total $4000

500 fast cash -- borrowed around $3000 paid back $3000 wth $1800 int. total $4800

paydayyes-- borrowed $4000 paid back $4000 prin wth $2000 int. total $6000

and finally with an actual printout from website. mycashnow.com -- borrowed $6300 paid back $6300 princ wth $2900 int total $9200

instant cash usa not much at all.

i would rather not give these scumbags another penny after really looking at how much i have gave them. i am an absolute idiot!!! is it possible to not pay them another penny and get all my accts closed and paid in full.

UPDATE OF MY STATUS---- bank acct has a hard hold on ach withdrwls and am closing acct and opening a new one friday after i recieve my direct deposit from work, letters are sent out (with much help from everyonme here) and also sent an email of my own saying i have overpaid these illegal paydaylenders in new york and want everything paid in full immediately and never to do business with them again. and am in the process of filing my complaints.

now i know it wont happen over night but what does everyone think. thank you all so much!!!

it will be a fight with these illegal pdl's,but just know you don't owe them anything.they do owe you refunds.some won't do it,but will eventually give you a PIF.whatever you do,do not let them bully you or give them another dme.they can't do anything to you as they lent you illegaly.

wow, a response from payday yes after just one day! here is what they said with my response. did i do ok with my reply? thanks.

Re: Your Account No.



Dear Mr. French:



I am writing on behalf of Payday Yes in response to your email of February 17, 2009. Payday Yes strives to assist consumers with their short term cash needs and is concerned that you were disappointed with your experience. We have noted your request for revocation of your ACH authorization as well as your request for no future contact by telephone.



In response to your comments, we note that Payday Yes is licensed in its home state of Delaware to provide short-term consumer loans. Payday Yes does not conduct business in the State of Texas , thus no part of this transaction would make Payday Yes subject to its legislative or regulatory jurisdiction. You received documents and disclosures in compliance with federal and Delaware state law in conjunction with your loan fully describing how the finance fees are applied and your repayment options. You agreed to these terms, including the applicability of Delaware (not Texas) law to the transaction, with electronic signatures in multiple places. These documents were emailed to you at the time your loan was processed. Should you need additional copies, please visit our website. All information regarding the nature of the debt and applicable finances fees is enclosed therein, and a review of these terms should address all of your concerns regarding repayment of your loan and the applicable process.



Our records indicate that you have made no payments whatsoever toward your $1200.00 loan to date. We intend to continue our efforts to collect the balance owed from you. However, we do understand that the current economic situation has adversely affected many people. Pursuant to your request, we have agreed to settle the balance owed and mark your account ???paid in full??? upon receipt of the $1200.00 you owe toward the principal balance on your loan, provided that we receive your payment on or before March 16, 2009. Payday Yes is taking this action without legal obligation to do so because of our ongoing commitment to customer satisfaction and for no other reason. Please send your payment by money order to Payday Yes, P.O. Box 660675 #15050, Dallas , TX 75266-0675 , or contact us at 1-888-468-0510 if you would prefer to pay by credit card or discuss other payment options. It is in your best interest to make arrangements with us directly, as your loan may be sold in the future to a third party collection agency. Those agencies are empowered to take legal action to collect the debt, and once they purchase your account from us, the nature of their actions is not within our control.



Thank you for the opportunity to clarify this matter and address your concerns.



Sincerely,

Payday Yes

AND my reply:

I do not get where you are bringing up Texas in your email to me, i have stated that i am from New York State. i dont care if you are licensed in Deleware, payday loans are 100% illegal in NEW YORK STATE, so the document that i sighned is illegal, good luck trying to collect anything off of an illegal document. Like i said before i want my account paid in full and closed, and an email sent to me that it is paid in full and closed!! if you choose to keep sending me your fraudulent emails, i will go after a refund through the NEW YORK STATE ATTOURNEY GENERALS OFFICE for the intrest that i have overpaid with the numerous loans from the past!!
Date: 2/17/09

i like that reply my friend.let them know they are wrong.you are doing great.keep it up. :D 8)

Looks great to me too!