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I have four payday loans out, in various stages of

Date: Thu, 03/03/2011 - 09:15

Submitted by PadmeKenobi
on Thu, 03/03/2011 - 09:15

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Total Replies: 4


I have four payday loans out, in various stages of repayment. However, the amount coming out of my check each pay period is a little more than half of my check which doesn't leave me enough money to pay the other bills. I live in New York State and just found out (at least I think that is what the informations is saying) that Payday loans are prohibited in New York. What should I do? I saw information about consolidating loans but then also read that they are ripoffs and not to do them. I thought about closing my bank account and going to a new bank but also read that it could cause other problems. Any advice or help would be greatly appreciated. I am at the point where I may not be able to make my rent at the end of this month.


well if you can recall the following.

1)amount borrowed from each
2)amount debited by each thus far

you see being as all pdl's are illegal in NY you only owe the principle no interest.anything debited goes toward the loan example:

you borrow 300.00 they debit 90.00 three times.you only owe 30.00 on the loan.please look into the info requested and go to the sticky titled DEALING WITH ILLEGAL LENDERS follow it to the letter.you will rid yourself of these places by doing just that.


lrhall41

Submitted by paulmergel on Thu, 03/03/2011 - 10:38

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List which companies you borrowed from. If you have paid them back more than the amount borrowed you may be able to send a simple email that will get them to close your account as "paid in full" I have had success with 3 companies with just a simple email that is posted all over this forum. The companies I had success with are Paycheck Now, VC Funding, and Spot On /PDL Ventures.


lrhall41

Submitted by californiapdl on Thu, 03/03/2011 - 10:48

( Posts: 6 | Credits: )


Thank you both for your advice. I have the amounts I borrowed, how much I've paid and the contact information. Two of the loans (based on principal borrowed and amount paid so far) are overpaid. The other two, I still owe something on. I will go to my bank tomorrow and send the letters to all four. This has been a tremendous help to me and I am glad I found this site and all of this great information. One of the loan companies that I still owe on, I have borrowed from before and have paid them off but got stuck in that trap of having to borrow from them again. Knowing what I know now about how much I overpaid, I am glad that I am getting out of this mess. Once I take care of these paid day loans, the rest of my finance will be okay. Thanks again!


lrhall41

Submitted by PadmeKenobi on Thu, 03/03/2011 - 18:35

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