NY Payday Loans - How do I begin negotiations?

Hi there, just to let you know PDL are illegal in the State of New York.

By what you have stated, all you are required to payback is the principal not interest. I would send a letter to all PDL's notifying them that they are operating illegally within the State of New York and set up a payment plan with them to pay the outstanding principal. Also, you have overpaid on some as well.

Others on this forum will help you as well.

Are these internet or store front loans? Maybe it's me, but I'm having trouble interpreting your post, I can't figure out what you borrowed and actually paid them.

Hi - Sorry for the confusion. These are all internet loans.
The amounts on the left of the equal sign is the amount of the original loan, the number on the right is what I've paid on the loan. I hope this clears things up.

Here are the Payday loan laws for New York (just select your state), I am sure someone will be along to help you that is familiar with the companies you have loans with. :)

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

I think the first thing I would do is close your bank account so they will not be able to debit your account anymore. Unfortunately, it really is important to do that, since it appears PDL's are illegal in the state of New York, and they will probably stop at nothing to get money out of you. I'm pretty sure all you need to do is pay them back the principal amount. Get a new bank account but do NOT give them that info. You will need to get a physical address for these companies, my choice would be to send them money orders, and according to what I've read here at this forum, the best place to do that is the Post Office, because those types of Money Orders are traceable. Keep EVERYthing, all correspondence, all contact with them (take notes if you have to), but keep EVERYthing. You also need to report them to the FTC, BBB, your attorney Generals office, AND your Division of Financial Institutions. Here are the links for you state on each of these, you can file complaints online. :)
http://welcome.bbb.org/
http://www.oag.state.ny.us/complaints/complaints.html
http://www.fcc.gov/cgb/complaints.html
http://www.banking.state.ny.us/ccs.htm

Hope I gave you the right links, I'm pretty sure I did. :)

NM, you might also try for a refund. These guys have robbed you! There are lots of people here that have dealt with the companies you listed. Someone should be along to help you with letters and advice. You should also read the post on closing your bank account before you close it. Unfortunately that probably is the only way to stop these thieves

Except for the last 3 you should be asking for refunds! Looks like they have been robbing you, but their are a couple very knowledgable members that are from NY where pdl's are illegal, I'm sure one of them will be along shortly

Thanks everyone - The last check just cleared from my bank account this morning so I went right over and closed that account. I'll search the forums for addresses. If someone could point me to any letters I could use that would be great.

Here you go! Just insert your NY state laws into it and the other applicable info....

Do you really insert your SSN? I don't think I would, regardless if they have it or not, in my opinion the account number is enough to identify the debtor, the less paperwork my SSN is on, the better, but that's just me.

You can choose to leave it off...but I included it as I did not have my account numbers with the PDL's handy. If you dont have the account number, then as much info as possible for the PDl to locate your account should be given.