Payday loan help in NYC
Date: Mon, 05/11/2009 - 12:54
Fast foward to April 2009, I get an angry phone call from some alleged law firm in NYC by a man named Frank, then Scott, then something else, that clearly didn't speak English and had gone through my credit report and said i was going to be sued for fraud, As I took out a loan with the clear intention to not pay it back. (by Paydaymax, although under the name of Cash Co.?) I communicated with PDM and they said they had never heard of the company and I shouldnt deal with them. Long story short my PDM account was turned over to Professional Debt Mediators (probably the same exact company but whatever) They allowed me to "settle" my loan for $600.
As far as PDL is concerned, when I agreed to the repayment "plan" I had a balance of $390. Then I can an email stating all the payments and they total $530! I have no intention of paying anything more than the $390.
Here is the breakdown:
Paydaymax - taken out on 9/2008, $300, now owe a "settlement" amount of $600 with an initial payment of $240, and $100 every month thereafter.
US Fast Cash - 8/2008, $200, amount owed $225, paid $125
PDL Loan aka High Country Ventures, and as of last week RBT - taken out 12/2008, $300, amount owed $530, entered a payment plan that has me paying $60 every 2 weeks
I know they are illegal in New York. My issue is not with US Fast Cash, but more Paydaymax and especially PDL (since it clearly has been running into legal issues). I do not want to close my bank account, I would like to get a lawyer. But I am not sure how much this would cost me. If in the end it will be the same then I might as well just pay the illegal lenders and have them disappear forever.
Any help is greatly appreciated.
Thanks!
All you are obligated to repay the amount borrowed,not a penny m
All you are obligated to repay the amount borrowed,not a penny more. If you borrowed 300 all you repay is that exact amount.
Because these loans are not legal in NY all they can do is threaten you.They can not do anything. Do not waste money on a lawyer, these places dont care. They will try anything and everything to get your money. Stand your ground and refuse to repay a cent more that was borrowed. You will need to close your account or else they will bleed you dry, Do not tell them anything until your account is secure. Either close it or put a hard debit block on it.
Stopping payment will not help at all. they have so many different name tha if you stop one they will use another.
I am from NY and had 13 loans. Following what was told to me here , I now have none. I stood my ground and ended it
Guest.....Did they call your entire family tree and call your bo
Guest.....Did they call your entire family tree and call your boss? I don't mind standing up to them I'm just worried about my whole family and everyone I work with finding out about the mess. If I contact them first and stand my ground will they just harrass me or will they call my mom to say they've talked to me and I'm not paying?
Well its good to know I only need to pay the original amounts, b
Well its good to know I only need to pay the original amounts, but I absolutely cannot afford to close my bank account at this time. I wish I knew earlier because the original account they were linked to was closed. But I've since given them my new info. What I am more concerned about is how Paydaymax went into my credit report and had a false claim against me which I had to have removed, and I do not want them to start harassing my references.
If they have your new info, sorry to say you will not be safe un
If they have your new info, sorry to say you will not be safe until you close your account.They will debit until forever . Please do not keep this account open. Certainly do not tell them that you will only pay what you borrowed, they will go right in and take it all AND they will not stop. Yes they called, but they know in NY its a lost cause, so after a bit they seemed to give up
Well the good thing is that my bank doesn't allow money to be ta
Well the good thing is that my bank doesn't allow money to be taken out if I can't cover the charges. I'm going to see if I can hold my own and tell them they aren't getting more than what I owe them plus any reasonable interest. Otherwise, to be quite honest I think I will try a Payday loan service like Langhorne. I tried to use them once but they were getting annoying with their incessant phone calls, but Im to the point where I just dont have the time to deal with this all myself.
Again, in NY these are not legal . You owe only what you borrowe
Again, in NY these are not legal . You owe only what you borrowed. A place like langhorn will settle and you will be paying more than you need to. I lived in NYC and had 13 loans. Following the advice here I now have none, and it took less than 3 months to get rid of all of them. I paid not a cent more , and paid it on my terms. My opinion, but paying a company what you can do on your own, and paying the pdls more than you need to is foolish. The advice here is excellent. If I could get rid of 13 loans, anyone can
also from NY, went from 7 loans to 1 in a little over a month an
also from NY, went from 7 loans to 1 in a little over a month and a half. couldn't close my account either but that is highly recommended here on this site. I did get rid of them by sending the ACH letters (use the one from this site and change the wording a little for your personal situation) and gave those to the bank and emailed letters for those that I overpaid on to mark my account PIF. For those PDLs that I did still owe on the principal, I got a pre-paid card and told them exactly what amount I would give them and when and that I was paying the principal only as these are illegal in NY per the state attorney general.
Ok. Well I will close my account after I make all my payments in
Ok. Well I will close my account after I make all my payments in full for the original amounts borrowed. But what I am deeply afraid of is Pay Day Max's relentless collection activity. They went through great lengths to scare me into a $600 settlement agreement, in fact I might still even have the email from October. Once I pay them the $340 and start writing the letters, closing the accounts, etc. what if they still choose to collect on the debt? They went as far as to claim i was committing fraud on my freaking credit report, I don't need false claims on me added to my financial woes. They are taking money that I need to repay my LEGITIMATE debts.
Have any of you dealt with Paydaymax, Credit Protection Depot (funny name) and Professional Debt Mediators?