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help in NY

Date: Thu, 05/28/2009 - 13:37

Submitted by maximumchaoss
on Thu, 05/28/2009 - 13:37

Posts: 7 Credits: [Donate]

Total Replies: 8


I took out a few loans with every intention of paying them off I had it all planned out in my head but now I'm in trouble its totalled about 1200 in 4 different loans 3 of em for 200 and one for 350 but I juist found out I'm gettin laid off because of the economy now I have I have toi save my next 2 checks so I have money to fall back on for my son when I'm out of there.. What are the laws in NY for payday loans? I can't go to jail for this can I? Is there a way I can get a low interest loan to pay rthem off!


Pay day loans are illegal in New York. No you can not go to jail. You need to close your account so they will not be able to debit any more. Do not contact them until your money is safe.You are morally obligated to repay only the amount borrowed. pay them as you can, they can not touch you. They will threaten you and tell you they are legal, but they are not. Do not worry. best they can do is blow smoke your way


lrhall41

Submitted by on Thu, 05/28/2009 - 13:44

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Morally obligated, well, in reality there is nothing that will happen if you chose not to repay. I too am in NY. I felt that I had ti do the correct thing and at least pay back what they gave me. They gave me money, i used it , i paid it back.
No you can not get into trouble if you close your account. That is what most of us have done.There is a sticky at the top of the page that tells you how to deal with illegal lenders


lrhall41

Submitted by on Thu, 05/28/2009 - 13:58

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Ill close off my acc??unt for now then and some time when I find another job ill pay em off little by little rightnow my main concern is my son... The interest rqates are in sane almost 100 on a 200 loan and over 100 on a 300 loan I've officially found somethin I'm never going to do again to much stress on my end


lrhall41

Submitted by maximumchaoss on Thu, 05/28/2009 - 15:04

( Posts: 7 | Credits: )