FYI on PayDay Loan Yes
Date: Fri, 03/27/2009 - 07:18
I am in NJ where the Pay Day loans are prohibited.
These people are ruthless & nasty and I just wanted to let anyone out there who is having trouble with them not to be intimidated & to be as persistant as they are. They continued to call me constantely even after I sent them the Cease & Desist and Wage Revocation. I had one nice fellow (NOT) John act as if he had no idea what a Cease & Desist was....After I repeated it over & over again for about 5 minutes he finally hung up on me :) AND even after that they continued to call, pretending I guess as if the right hand didnt know what the left hand was doing. So I then conitually emailed both letters to them repeatedly including the definition of Cease & Desist and the NJ state law regading Pay Day Loans -- no one ever answered my emails until yesterday someone emailed me a payment plan for a loan that has already been paid. I emailed back explaining this. I also explained that I had put complaints into the DOBI, FTC, NJ-AG and the BBB.
This morning I received a text message from them (PayDay Loan Yes) stating that they will file a 1099 with the IRS for unearned income and it was my choice to either work with them or their attorney--and that they are not bound by federal laws (?) .
So now they are above the law -- I am sure the agencies I mentioned above will love to hear that one.
The reason I wrote this and why I went into such detail is that because I did my homework (most of it from this site) they didnt intimidate me with their nasty threats. I was able to respond calmly and intelligently. And I have all of you on this site to thank and I hope that anyone in similar circumstances will do the same --the advice here is free and its 100% accurate, take the time to read all that applies to you and then take the time to do all the work, it took me days to research & hours to do the paperwork but its worth it because I am on top of it all and I know what to do (and if I am not sure I search it out right here)
That is great information and good for you sticking to your guns
That is great information and good for you sticking to your guns.
Payday loan above the law?
I think many of these payday loan scams are ran by offshore companies so they think they can do what ever they like. I had one with Cashnet USA and they would take money out of my account when they felt like it. I had to close my credit union account to stop them. Beware of these payday loan companies. I know many states are banning them now.
I hope they are all banned -- I learned a hard lesson as so many
I hope they are all banned -- I learned a hard lesson as so many before me have and unfortunately many after me will....
Webmastercash4u, what state are you in? CashNet USA is legal in
Webmastercash4u, what state are you in? CashNet USA is legal in many states.
Quote:This morning I received a text message from them (PayDay L
Quote:
This morning I received a text message from them (PayDay Loan Yes) stating that they will file a 1099 with the IRS for unearned income and it was my choice to either work with them or their attorney--and that they are not bound by federal laws (?) . |
Still laughing at the fact they text you this, wow real professional of them :lol:
Their 1099 claim is bogus, and a hollow scare tactic. First off a creditor cannot just file a 1099 to IRS to collect a debt. There are major steps and guidlines that must be taken for it even to reach to that point. Besides PDL is not a federal debt, so I doubt that claim will hold any weight whatsoever.
You are doing a great job and stay positive.
That 1099 is new one though. I guess they are coming up with new
That 1099 is new one though. I guess they are coming up with new and exciting ways to try and scare and intimidate people.
That will be in the illegal PDL employee handbook before long.
Quote:That will be in the illegal PDL employee handbook before l
Quote:
That will be in the illegal PDL employee handbook before long. |
Funny, but true :?
Sad thing is I have seen this 1099 claim before.
The bright side is that if they do manage to 1099 your balance,
The bright side is that if they do manage to 1099 your balance, they can no longer try to collect. The 1099 would be the same as saying that they gave you the money and the govt should collect taxes on it.
This is a new one to me...
I am curious how much the loan is. Threatning to file a 1099
I am curious how much the loan is.
Threatning to file a 1099 over a $300 loan is just idiotic :lol:
Regarding Payday-Loan-Yes..... If they are located in Utah, d
Regarding Payday-Loan-Yes.....
If they are located in Utah, do they claim to be subjet to the payday loan laws in Utah? I was reading their laws in their site and it seems that they are in violation of even their laws. Has anyone ever filed a complaint with the Utah Department of Financial Institutions?