Need PD loan infor

Date: Tue, 10/28/2008 - 13:04

Submitted by stacey_melendy
on Tue, 10/28/2008 - 13:04

Posts: Credits: [Donate]

Total Replies: 1

Hi everyone, please disregard my 1st post. I didn't read all the info before posting. Ok here we go. I have 6 payday loans. All of which I beleive are internet. I live in NJ. I am burried and cannot keep up with the interest payments let along pay them off. I have been reading your information and I am learning all about these companies. Here is what I have and what I have paid to date:

instantloansnow.com princ $700.00 interst pd$420.00
Fox Enterprises princ $300.00 interst pd $180.00
US Fast Cash princ $300.00 interest pd $180.00
Instantcash USA princ$400.00 interest pd $120.00
paycheck today princ $400.00 interest pd $120.00
ACHloan.com princ$200.00 interest pd $74.00

I am sending C+D letter that I got off this site.

Please tell me exactly what I a legally responsible to pay and any contac info you may have for these companies.

Thank you very much!

Here are the laws for your state: New Jersey State Informatio

Here are the laws for your state:

New Jersey State Information

Legal Status: Prohibited

Citation:
Consumer loan act applies but rates as agreed to by contract. N.J. Stat. Ann. tit. 17,???? 1 et seq. However, criminal law sets the usury cap at 30%. N.J. Stat. Ann. ???? 2C: 21-19. A check cashing licensee cannot cash or advance money on a postdated check. N.J. Stat. Ann. ???? 17:15A-47.

Small Loan Rate Cap
30% per year

Where to Complain, Get Information:
Regulator: New Jersey Department of Banking and Insurance
Address: 20 West State St. Trenton NJ 08625
Phone: (609) 292-5360
Fax: (609) 292-5461
Regulatory Contact: Ludi Hughes Assistant Commissioner

With that said, you are moral responible to pay the orginial amount that you have borrowed from these companies. I would look at old bank statement to see how much you have paid so far. Also file complaints with the BBB, Attorney General's office and the state where the payday company is located. Also file a complaint with the FTC

lrhall41

Submitted by wssu92 on Tue, 10/28/2008 - 15:54

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