My Payroll Loan Mess--6 companies and need advice
Date: Mon, 05/04/2009 - 11:39
Thanks for putting up this site. I hope I can, down the road, help someone else and give something back. For now---I'm here looking for any advice. I fell deep into the payroll loan trap, and then lost half my regular income.
I have loans out to these 6 (yikes!) companies. I closed my account, so they can't get in. I called each one and, with some of them, to at least keep them off my back, arranged to pay them 100.00 per month, via moneygram, starting in about 3 weeks and the amount is frozen. My regular auto-deposit income was cut in half, so that's why I fell off.
Two companies didn't go along---one might, and one (CMG) turned it over to a very nasty collection agency, and they are harrassing me and my family via phone calls. Some of these charges may include some bounced fees.
I live in NY, NY.
As requested, here they are:
1. Everest Cash Advance. I owe 525.00
Was 500.00 loan.
Thus far I paid a 150.00 finance.
Payment arrangement, 100 per month via moneygram.
2. Eagle Finance/One Stop: Was 500 loan.
I now owe 600.
Paid 300 including finance.
Payment arrangement, 100 per month via moneygram.
3. Cash Spot (ACC) I owe 525.00. Initial loan 700.00. Paid 524.50 including finance. Not sure if there were bounce fees in here. Skipping payment but no arrangement yet.
4. VIP Intial Loan: 400.00
Paid just 125.00 finance.
Owe 665.00
5.United Cash Loans. Initial Loan
400.00. I owe now 520.00.
Think I paid 320.00.
Payment arrangement, 100 per month.
6. CMG--gone to Alliance Asset who have been very unco-operative/nasty. Won't send me statement of my payments and CMG says they don't have them either. They are harassing family, etc.
CMG says I owe 1,100 for a 350.00 loan! there were two bounces. I've paid a total of 210.00.
So I can't possibly pay all these companies when what they want, and so far just stalling with the money order thing. Will try to pay what I can but need advice.
Thank you
Pay Day Loans are not legal in the state of NY. I am glad you cl
Pay Day Loans are not legal in the state of NY. I am glad you closed your account.ALL YOU ARE OBLIGATED TO REPAY IS JUST THE PRINCIPLE AMOUNT BORROWED. Every cent you have already paid to them goes against the amount borrowed. No intrest , no fees. Because they are illegal you can pay them on your terms and not a cent over the amount borrowed. They will scream and tell you that they are legal but they are not. They will tell you all sorts of lies to get you to pay , but they can not touch you. Actually Cuomo was very instrumental in getting these things in an illegal status. The attorney General of NY is very helpful if need be
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well pdl's are illegal in NY so here is what you owe on each one.
everest 350.00
eagle/one stop 200.00
cash spot 175.50
vip 275.00
united cash loans 80.00
cmg 140.00
see being as these are all illegal you only owe the principle.anything debited goes toward the loan.
there is a sticky.the third from the top of this forum it shows you step by step in how to deal with all of your pdl's alliance asset as well.
thanks and beware Alliance Asset collection
Thank you so much for the time and effort. I assume, since I did a bunch of these loans a previous time and paid them off, that trying to go back and get the money lost retro-actively would be asking for the moon...correct? If so, I'll just be happy with this new information and may return with some followups and will let one and all know how it went to inspire folks. ONE WARNING: CMG turned it over to collections---the first collection agency that harrassed me was called ALLIANCE ASSET and they asked for about 400 dollars MORE than even CMG had said I owed AND they had little info. on my account...paid/unpaid. Today, a debt collector named National Debt (888-622-0222) called on behalf of CMG and they seemed reputatble--knew the amount, my account number. So Asset is up to no good, me thinks. Called my family too. When you call them from a blocked number they don't answer ---they are at 630-760 1110. Might be scam.