Help with NY payday loans
Date: Mon, 01/10/2011 - 09:43
Hello all,
I currently have six outstanding payday loans, 5 of which I have drastically overpaid on already. I've been trying to pay them off, but it's finally caught up to me and I can't do it anymore.
After carefully following the helpful advise on this site, I closed my bank account and sent letters to all of the lenders to stop all ACH payments from my account. I am now starting to get responses back. Here is a sample:
***Governing Law Both parties agree that this Note and your account shall be governed by all applicable federal laws and all laws of the jurisdiction in which the Lender is located, regardless of which state you may reside, and by signing below or by your electronic signature, you consent to the exclusive exercise of regulatory and ad judicatory authority by the jurisdiction in which the Lender is located over all matters related to this Note and your account, forsaking any jurisdiction which either party may claim by virtue of its residency.*** I apologize you are liable for the loan in full. The remaining balance due is $202. I apologize for any inconvenience.
My question is, do I continue to respond to them if they respond in this manner? And if so, what should my response be?
Thank you in advance for your help.
I currently have six outstanding payday loans, 5 of which I have drastically overpaid on already. I've been trying to pay them off, but it's finally caught up to me and I can't do it anymore.
After carefully following the helpful advise on this site, I closed my bank account and sent letters to all of the lenders to stop all ACH payments from my account. I am now starting to get responses back. Here is a sample:
***Governing Law Both parties agree that this Note and your account shall be governed by all applicable federal laws and all laws of the jurisdiction in which the Lender is located, regardless of which state you may reside, and by signing below or by your electronic signature, you consent to the exclusive exercise of regulatory and ad judicatory authority by the jurisdiction in which the Lender is located over all matters related to this Note and your account, forsaking any jurisdiction which either party may claim by virtue of its residency.*** I apologize you are liable for the loan in full. The remaining balance due is $202. I apologize for any inconvenience.
My question is, do I continue to respond to them if they respond in this manner? And if so, what should my response be?
Thank you in advance for your help.
I would continue responding: My state law prevails.
I would continue responding:
My state law prevails.
that is the typical illegal lender response.you respond by stati
that is the typical illegal lender response.you respond by stating your state law prevails meaning all pdl's are illegal including theirs.if you overpaid then state that as well.just know alot of illegals try to buffalo people with their form responses.they are full of it.
