Need payday loan help
Date: Wed, 12/15/2010 - 08:42
I am in NY and have gotten in a mess with payday loans. I currently have 5 payday loans out -- all internet based. Here's my list:
Borrowed Paid
Advantage Cash Services$350.00 $210.00
EZ Payday Cash $400.00 $120.00
PayDayLoan Yes $350.00 $ 506.00
Loan $hop Online $400.00 $0.00
Pack Management Group, LLC $150.00 (left) originally $300.00 Paid $ 510.00
In the amount paid, i'm outting both fees and any amount that i have made toward the principal.
Right now if I do nothing the charges that are going to start hitting my bank account on 12/31 will probably leave me with no money left for my regular bills or myself and my daughter.Please give me advise on what to do. I am desperate and believe it or not started looking at more payday companies to get mony in the bank to cover the upcoming costs.
I do have another checking account and was considering switching my direct deposit to that one and closing my other bank account.I'm dreading the collect calls though and was wondering if there is any way to avoid them or just ignore it.
Thanks for any help you can give me.....
Gisselle
Check out your State laws regarding payday loans. Payday lendin
Check out your State laws regarding payday loans. Payday lending is considered prohibited in the State of New York.
I would immediately close your bank account. I would then file a complaint with your State Banking Department. Below is the address: New York State Banking Department, Address - One State Street New York NY 10004, Phone - 1-877-BANK-NYS, Regulatory Contact - Regina A. Stone Deputy Superintendent.
I would then write a letter to each lender. You can find sample letters on this forum. You should ask for a paid in full letter and a refund if you have overpaid. Keep in mind that you only morally owe the principal balance (no interest/fees).
CLICK HERE to find out how to deal with illegal lenders.
CLICK HERE to find out how to deal with illegal lenders.
You are morally responsible to pay back the amount of the origin
You are morally responsible to pay back the amount of the original loan. I see that you've over paid one and I would demand a paid in full letter and refund. On the others, you need to make payments until the principle balance is paid. Get a prepaid money card and make your payments that way. Don't give them any of your banking information. If they won't take payments that way, tell them they have to provide you with a current mailing address so you can send a money order or cashiers check.
