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How to get started getting out of paydayloan problems

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Have so many loans - don't even know how and am embarrassed but need help. Its taking so much of pay can't barely pay other bills.

I don't want to close my bank account unless it is a complete last resort - my spouse doesnt know about these loans and it would be a huge marital problem if found out.

I Live in NJ and am confused about whether or not PDLs are legal and how to approach each company to find out how to get them marked paid? Have rolled over multiple loans many many times with these companies- don't have the amounts paid in total yet but will start to look up - I didn't want to wait another minute - payday is next thurs was hoping to start some fast:

Fee Principal
mycashnow 57 230 new - no rollover
greenlight 100 250 new - no rollover
money & more 45 255 new - no rollover
discount 105 260 rolled over many times
onestep cash 90 300 rolled over many times
star 35 350 rolled over many times
ameriloan 105 350 rolled over many times
paycheck today 120 400 rolled over many times
geneva roth (new one) 120 400 rolled over many times
oneclick 120 400 rolled over many times
loan shop 120 400 rolled over many times
fast and rel 100 500 rolled over many times
delaware fast funds 165 550 rolled over many times
paydaymax 240 700 rolled over many times
magnumcashadvance 1500 rolled over many times

Have been reading through the threads and just don't know how to start to figure out what these letters are you are sending and where to start to get this moving along without risking more coming out of the account (and really trying not to close it)

The board members always advise repaying what was deposited into your account, legal or no. But, again, that is your decision. They gave you the money, you used it. Overpaying by way of previous loans really doesn't impact the current loan situation. Credit Protection Depot collects for MyCashNow and PayDayMax. That is who I went to when I settled both of my accounts that they handle. MNE is a Native American Tribe out of Oklahoma that deals with PDLs. There are several affiliated with them. You will also read about MTE and SNE. Other tribes on the same reservation. You will have to communicate with the PDLs directly indicating that not only have you repaid what you borrowed, but you have overpaid and would like a refund of that dollar amount. Sometimes it works, sometimes it doesn't. I had no overpayments so I didn't have to deal with that aspect of the PDL world. Many on here are happy just to receive a PIF and be done with it. Again, your choice. Get the bank sqaure, draft the C and D letter, get them out and wait for the PDLs to respond. Good luck and keep us posted.

Sub: #21 posted on Wed, 07/30/2008 - 06:33

llw1995 llw1995

(Posts: 1422 | Credits: )

Ok - Went to the bank earlier and opened a new account. They were great about it and they just opened it without issue. Will close 'old' account on Friday or Monday after a few things have a chance to clear. PDL will not try to hit until Thursday so bank manager said that is enough time.

I will pay back what I took out if the previous loans have no bearing. Now what is next? I know I can't send them anything until that account is closed but I want to get all of my information together and ready. I need to get a C&D letter? And then when do I send that and what will it accomplish? Also what do I need to send to my payroll department and what kind of letter do I need to withdraw the ACH authorization related to the soon to be closed account?

Thanks for all of your help - I see a light at the end of the tunnel now - I will have paycheck next week!!!

The bank assured me that the new account will not be linked to the old one and that once the account is closed it is closed and no forcing open will happen. I have dealt with this manager before and trust he is telling the truth and will fix any problems that may arise.

Sub: #22 posted on Wed, 07/30/2008 - 11:51


i, too, live in NJ.. from my understanding, they are probhibited and telling companies that as well as showing the law usually works out for the best. I filed reports with the BBB, FTC and NJ attorney general. I sent C & D letters and most companies worked with me so I could settle.. Geneva Roth is giving me an awful time. If possible, perhaps you could find the ACH processor for your loans, as that has helped others on this board. My original letters that I sent (and reports I have filed) have usually worked for me.

Sub: #23 posted on Wed, 07/30/2008 - 12:01

bea2ls bea2ls
(Posts: 3840 | Credits: )

bea2ls is correct. I live in NY and that worked to my advantage. The C and D letter will cover all aspects of your PDLs. It will revoke ACH authorizations, wage assignments, calls to your home, friends, etc. Give a copy of that to your HR department so they know that you have revoked several things relating to the PDLs. You are correct. Do not send it until your account is closed. I would try emailing it first, for quickness, and then you can hard copy it after. bea2ls talked about finding their processors. That is another whole different avenue, which you could try as well. Actually the processor is the one who helped me out with UsFastCash and Star Advance. You can find a template for the C and D letter on this website in the do it yourself section at the top of the page. You will just have to plug in your own info as you go along. Sounds more difficult than it is. If I were home, I would post a copy of what I used. Unfortunately I will not be there until this evening. Someone, I am sure, will come along and help with that, if you need it. I am glad that things went smoothly at your bank. Knowing your money is "untouchable" makes a big difference in your mindset. Work on that C and D letter so it will be ready to go as soon as your account clears/closes. Keep us posted and don't be afraid to ask for help if you need it.

Sub: #24 posted on Wed, 07/30/2008 - 12:30


sorry bout that. . .the last post was mine. . .llw

Sub: #25 posted on Wed, 07/30/2008 - 12:32

llw1995 llw1995

(Posts: 1422 | Credits: )

I looked on do it yourself in the sample letters and I can't find a c&d letter sample. Does anyone have the link to it or another sample? What do I send to my payroll department and what do I tell when I send it?

Sub: #26 posted on Wed, 07/30/2008 - 18:01


Ok I signed up for an account and although I thought I kept the same name it assigned me one based on my email address. So now I'm not 'needshelpfast' (although I do) I'm whoever it posts me as on this post!

I figure I have a lot to learn on here about this and more so no need to be a guest.

Sub: #27 posted on Wed, 07/30/2008 - 18:17

lovestix lovestix

(Posts: 1 | Credits: )

Well, lovestix, aka needhelpfast, welcome! I will post a copy of my C and D letter below. Hope it helps. You can give a copy of that C and D letter to your HR department as it will explain it all. I just told my HR department that there was fraudulent activity on my account and if anything came through regarding my paycheck they were not to honor it and call me immediately. Thank God it never came to that. You will have to plug in your state's name where it is applicable and you could add anything to this letter regarding each particular PDL, if you wish. That is what I did on each individual letter. I stated what I had paid, what I was willing to pay to clear the debt and how I would get it to them. Keep us posted.

To Whom it May Concern:

After doing research on internet payday loan laws in the state of New York, I have found that your internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the state of New York in general:

------------------------------------------------------------------------ --------

New York State Information

Legal Status: Prohibited

Licensed lender law applies but interest rate is that agreed to by contract. N.Y. Banking Law ???? 340 et seq. A check casher licensee cannot make loans nor cash or advance any moneys on a post dated check unless it is a payroll check. N.Y. Banking Law ???? 373. Criminal law sets the usury cap at 25%. N.Y. Penal Code ???? 190.40.

Small Loan Rate Cap
25% per year

Where to Complain, Get Information:
Regulator: New York State Banking Department
Address: One State Street New York NY 10004
Phone: 1-877-BANK-NYS
Regulatory Contact: Regina A. Stone Deputy Superintendent
Regulator????????s Website
Complaint Form
Complaint Instructions

I have contacted the New York State Banking Department and the New York State Attorney General????????s Office regarding your internet payday loans and was informed they are indeed illegal in New York and have been advised to pay what is due according to principal amount only of the loan.

A physical address is necessary, as you are no longer authorized to debit my bank account. I will not Money Gram or Western Union any payment. If no physical address is provided for me to mail payment to, no payment will be made.

Any contact must be made through the US Postal Service or email only. I need everything in writing to keep accurate records of all communication as per instruction from the state Attorney General's Office.

I prohibit you or your affiliates from contacting me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the state of New York.

You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.

I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account from this point on. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution as my account has been flagged as having fraudulent activity.

I must also inform you that I have filed complaints with the Better Business Bureau, the Federal Trade Commission, my state Attorney General's Office, the New York State Banking Department. In regards to this matter, I expect a response from your company no later than 10 days from the date of this communication. This response may only come via US Postal Service or email. No telephone contact is permitted.

Sub: #28 posted on Wed, 07/30/2008 - 18:37


Sorry bout that. . . that was my post. . . .llw. . . forgetting to sign in. . . . again.

Sub: #29 posted on Wed, 07/30/2008 - 18:39

llw1995 llw1995

(Posts: 1422 | Credits: )

I have the old account now closed and am working on the letters. I cannot find email addresses or fax numbers for the following and was hoping someone could help:

money & more
geneva roth


Sub: #30 posted on Mon, 08/04/2008 - 07:57


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