Renewal Fees for illegal payday loans in NJ?

Date: Thu, 12/24/2009 - 07:26

Submitted by jmy08stang
on Thu, 12/24/2009 - 07:26

Posts: 39 Credits: [Donate]

Total Replies: 5

I live in NJ, and thanks to all the people here I found out that payday loans are not legal here. I currently have 4 payday loans. Right after I got these, I found out that I am going to be losing my job. The loans are with Titan Group- $200
Pack Management/ B&L-$250
Wagesfast-$200
NLS Cash Advance-$300
Right after I found out that I was going to be losing my job,I was able to stop all ACH transactions from being taken out of my account.
Each time the loan came up for a payment it was renewed and nothing went towards the balace of the loan. So far I have paid
Titan-$180
Pack Management -$75
Wagesfast-$152
NLS Cash Advance-$0
Now my question is, since these are illegal here in NJ,do I just have to pay them back what I borrowed? Would these renewal fees go towards the balance that I owe? Thanks for all the help.

You are only required to pay them back what you borrowed to begi

You are only required to pay them back what you borrowed to begin with, less ANY and ALL fees, interest, etc. you have already paid to them. They will disagree with you of course but understand that you are dealing with a bunch of criminals so they are liable to tell you anything to steal money from you. I hope you realize that stopping ACH's is only a temporary fix, these companies are known to change their names and debit again and again. Your account will never be safe again as long as ANY of these companies have your account information. CLICK HERE to find out how to deal with illegal lenders.