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Payday Loan Info Needed! Jan

Date: Mon, 12/27/2010 - 22:35

Submitted by anonymous
on Mon, 12/27/2010 - 22:35

Posts: 202330 Credits: [Donate]

Total Replies: 8


Help Please!!! I need some advice. My husband was injured at work and was not being paid. With my income I applied for a payday loan. Now, i find myself borrowing from one to pay another and i can't get caught up. Where should I start?

I Live in New York. Some of the companies I have loans with are SureAdvance.com, MyNextPaycheck.com, Nationwidecash.com and CCS Services. Is this legal? Where should I start?


This is what the payday loan trap is all about. Once you take out a payday loan, you fall into the trap and cannot come out of it. As far as I know, in the state of New York, payday loans are considered prohibited. Thus, most of the payday loan companies will be illegal there. You can take a look at the given page in order to know how you can deal with illegal payday loan companies:
http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html


lrhall41

Submitted by Anna Sweeting on Mon, 12/27/2010 - 23:06

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All you are required to pay back is the principle amount of the loan. If you've paid over and above that send a demand letter requesting a refund along with a paid in full letter. If you still owe, you need to see if they off an EPP but you need to do that before you default. First and foremost to keep these lenders from accessing your money you need to close your bank account immediately.


lrhall41

Submitted by Buzzette on Tue, 12/28/2010 - 09:06

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I was reading on here that they are illegal but I thought I had read that NY prohibits their companies from being licensed here but that if they were licensed in another state that they have to follow their state laws. Is that incorrect? 3 of the loans I have show that the lender is in Delaware. Would I file a complaint in NY or DE?


lrhall41

Submitted by on Tue, 12/28/2010 - 19:35

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Quote:

I was reading on here that they are illegal but I thought I had read that NY prohibits their companies from being licensed here but that if they were licensed in another state that they have to follow their state laws. Is that incorrect? 3 of the loans I have show that the lender is in Delaware. Would I file a complaint in NY or DE?

Nope, they are all illegal. Paste the link below into your browser and read the N.Y. payday loan laws for yourself:
paydayloaninfo.org/state-information/40


lrhall41

Submitted by Shazzers on Tue, 12/28/2010 - 20:01

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