Are Payday Loans Legal in NY?

Pay day loans are NOT legal in New York State. Do a search of the forum...lots of information.

It could help if you list the Payday loan companies you've borrowed from, the amount of each loan, and how much you've paid back on each loan. Depending what you've paid back, it's possible that YOU could be due a refund or at least a "paid in full."

You really should follow the advice on this website. I did, and over the course of 1 day I cut my 8 PDLs down to 1! How 'bout that!

This site has been very helpful to me. I was up to my neck in debt and getting behind all my other bills because of ACH deductions.
Since my last posting, (I was unregistered then) I have asked my bank to stop all ACH transactions from getting through, only deposits will be honored and they will close my account as soon as my employer gets my new bank account number.
I have also sent letters to all the PDL's and demanded refunds from them. American Consumer Credit-The Cash Spot answered and asked me to pay $200+ more to the account! Kenwood services sent me a sort of generated email three times to contact them by phone or fax.
I recently sent email to my bank asking for help in getting my money back and they advised me to file an unauthorized ACH debit form. This is how the form goes:

STATEMENT OF UNAUTHORIZED ACH (ELECTRONIC) DEBIT


I, ____, state that I have examined the statement or other notification received from _(bank name)_indicating that an ACH debit entry was charged to my Account Number ________.

I understand that an unauthorized debit means an electronic fund transfer from my account either: 1) initiated by a person who was not authorized by
me to initiate the transfer, or 2) if authorized, is in an amount greater than that which was authorized, or 3) results in a debit to my account earlier
than authorized by me.

I have listed the unauthorized transactions as follows:

(Transactions)

Please include any additional transactions on an attached sheet of paper and initial here ______.
Please complete a separate statement for each account number.

I further depose and say that (check one)

( ) I did not authorize, and have not ever authorized, _____________________ to originate one or more ACH entries to debit funds from my account.

( ) I authorized ______________________ to originate one or more ACH entries to debit funds from my account but on
__________________, 200__, I revoked that authorization by notifying in manner specified in the authorization.

( ) I authorized ______________________ to originate one or more ACH entries to debit funds from my account at but,
( ) The amount debited exceeds the amount I authorized to be debited. The amount I authorized is $ _________.

( ) The debit to my account was made on a date earlier than the date on which I authorized the debit to occur. I authorized the debit
to my account on or no earlier than __________________, 20__.

I further state that the debit transaction was not originated with fraudulent intent by me or any person acting in concert with me, and that the
signature below is my own proper signature.

I certify under penalty of perjury that the foregoing is true and correct.


Dated: ___________________ Signature______________________________

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I would really like to get money back from the PDL's and would ask everyone's advise on how to pursue this. I have obviously overpaid on most if not all of them.

Here's a list of the Payday Loans that I have:
Kenwood Services - $300 paid $1500
A.C.C. The Cash Spot = $500 paid $1,715
Cash Jar = $850.00 paid $2,067
United Cash Loans = $400 paid $1,185
Nationwide Cash = $500 paid $755
VIP Loans = $ 400 paid $865
SCS Everest Cash Advance = $500 paid $675
Ameriloan = $500 paid $610
500 fast cash = $400 paid 0
Mycashnow = $400 paid $175.56

Any input is greatly appreciated. I know I have been a fool for even getting them. :mad:

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