New York State

Hello Bigtroyboy and welcome! I will post your laws for you in a minute, are these all Internet loans?

You will find the Payday loan laws for New York here (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Are you certain these are all Payday lenders, or are any of them installment type loans?

Bigtroyboy if these are with all certainty payday loans, you need to close your account pronto! But please make sure these are all payday lenders. If you post them here, we can take a look at them and let you know.
Read the info below BEFORE you close your account, and do NOT tell any of these pdl's you are closing your account until after it's done and your money is safe.
http://www.debtconsolidationcare.com/paydayloan/close-account.html

Bigtroyboy. . . I too am a New Yorker. Does the "troy" in your name signify a name or place? Listen to Shazzers. We'll walk you through this step by step. Being in New York has it's advantages, and this is one of them.

I am also from NY. If these are indeed all internet loans, which they must be. There are no store fronts in this state, then all you are morally obligated to pay back is the principle borrowed. Because these are all illegal loans there is really no way that they are even collectable. Once your account is closed, i can send you a letter to send to your lenders. Please tell us who you borrowed from and how much already paid.

Thanks for all of the great responses that you have sent me with regard to my current troubles....I sent a message to Shazzers with regard to what I have to do and hope the process will be less painful than the current problem I am in.

So what is the first step I need to take?

Here is my loan and Payment info:

247 Advances - $300 Loan (paid $518 so far)
US Fast Cash - $300 Loan (Paid $180 so far)
Ambassador Financial - $400 loan (paid $838.75 so far)
Impact cash - $300 loan ($396.26 so far)
ameriloan - $300 loan (paid $860 so far)
NLS Loans - $300 loan (paid $801 so far)

and that doesn't include the NSF charges at my bank when some of these were initially returned because of lack of funds at the time of the ACH....

Pretty terrible....How do I make this go away?

Thanks!
Bigtroyboy

BTB. . .as previously stated I too live in New York and rest assured, they will go away as they are prohibited in New York. I know that the information you will be getting seems overwhelming, but it is not, once you set the wheels in motion. Many on here can help you with reporting, faxing, emailing and calling but please read the sticky on ACH Processors and do include it in your plan. It does work. . .it's a fairly new concept to the board but I cleared my two remaining PDLs in record time by enlisitng the services of the processors. I am now PDL free. To get you started, I know for a fact that UsFastCash and ameriloan process through Intercept EFT (1-800-378-3328) ask to speak with Cindy and let her know that you have revoked your ACH authorization (once you have) and she will help you instruct you from there. They use Bremer Bank as their finfnaical institution. I am not sure who processes for the others but your bank's ACH department can help you with that. Questions. . .just ask. All will be okay.

That was extremely helpful, but should I close my bank account and open a new one? I really don't mind doing it, I just need to know what the first step is.

Thanks!
BTB

BTB.. looks like you have way overpaid on all but USFastCash so things aren't so bad. Copy the letter that Shazz will provide you with, send it off to the PDLs (you can also email it first in the interest of time) and then call those processors!

Have you read the sticky about closing your bank account?? Once you do read it, and make certain that once you close that account out, nothing will be able to be forced through and re-open your account, I would most def. close it out!! That way, you know your money will be safe, and from there, you can start the process. I am still kinda new here but from what I am seeing, the only one you would owe anything to is US FAstCash in the amount of $120. EVERYONE else owes YOU a refund, because you have WAY overpaid on some of them!!!! Someone will be along to help you with your next step, which would be sending all of these companies Cease and Desist letters, which will revoke any more debiting from your account, and also you would need to go ahead and call the Processors, and then request a refund of what you had overpaid to the other copmanies! Also, don't forget to file copmaints with the BBB, FTC and your state Attorney General.....

So this is what I think I am hearing:

1) Close my account and make sure if can't be forced open again;
2) Email or snail mail cease and desist letters to lenders;
3) Call processors to get refunds of money spent?

Is that correct?

Thanks So Much!

Looks to me like you got it!! I would also fax the letters...makes sure all your bases are covered! Have you founf a copy of the C&D letter yet??

No....where would I get that...someone told me Shazzers would provide it for me.

Quick Question - looks like the maximum they could charge me is 25% per year interest...is that correct? and Do the lenders have to refund what I have overpaid?

BTB

BTB. . this is what I used for my C and D
letter

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

Citation:
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
Fax:
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.

I
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, as well as my State Senators, Jim Alessi and Hillary Rodham Clinton.

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.


You can modify as you see fit but it gets the message across. You have to revoke the authorization with the PDL before the processors will even touch it. Take your letter to your bank to let them know that you have revoked as well. Keep us posted.

BTB. . I think I posted on the locked thread as well. Please read the sticky about the ACH Processors. I believe it is an important piece of the puzzle to stopping the insanity. I know the system works as it helped me clear my last two PDLS. Follow the advice you find on here and you will be through this in no time at all. I believe Kash voiced those same words to me 3 months ago and she was right. You have way overpaid on all your PDLs except for USFastCash I believe. I hope the above C and D letter gets you started. Keep us posted.

BTB.. they should refund you but that's not to say they will. I was foturnate in that I did not overpay. I was able to get a PIF on what I had paid, and in two cases, a PIF with a balance still owing and one was for $293.00! Actually, living in New York State gives you an edge in this situation.

WOW...lots of useful information. I will be sending the C & D letter to these companies on Monday...unfortunately I am having a hard time contacting some of them, as I have very limited information on them. I will do my best and follow this useful information!!

Thanks a million!
BTB

BTB. . .you will get the advice to fax, hard copy and email these C and D letters to the PDLs. Actually, I never sent anything via snail mail. It was all done by email initially and maybe one or two faxes. Please do use the processors once you get those C and D letters out. I would try emailing them first in the interest of time. Like I said, once you notify them of the revocation, then go to the processors. Make sure your bank knows as well. One step at a time.

Well...I went to the bank today and closed my account. They told me that it was all I had to do in order to cancel the ACH debits from my account. Now I assume i have to send the Cease and Desist letter that someone gave me to each of the lenders? I have 2 lenders that I have made payment arrangements with by email, so I assume that I can just send it to those email addresses...the others I don't have email contact information on....any idea how to get that information?

BTB

BTB what addresses are you looking for? Yes, send the C and D letters to each of them. Call the processors as well. I hope you didn't make arrangements to pay back more than they deposited into your account. That is all you are legally and morally obligate to pay back. . .we live in New York State.

Not sure how to contact the processors...i have no information on them....where can I obtain that?

It's a sticky at the top of the forum page. Who are you looking for exactly? Perhaps I can help.

BTB. . I went back and checked. I can tell you that ameriloan and UsFastCash process through Intercept EFT and Bremer Bank. I am not at work right now but I can post later. Intercept EFT is much easier to work with than ACHC. Once you have the number you want to speak with Cindy. Talk soon.

I have loans with:

247 Cash Advances
US Fast Cash
Ambassador Financial
Impact Cash
ameriloan
NLS

Any email addresses or phone numbers available?

BTB

Try this address for ameriloan

3531 P Street NW Miami, OK 74355 Phone 800-362-9090

Ambassador Financial
314 N. Riverside Dr
Espanola, NM 87532

US Fast Cash Compliance Department
Fax: 1-800-470-6614
Email: compliancedepartment(at)usfastcash.com

Impact Cash USA is P.O. Box 3206, Logan, UT 84323. It's phone # is 1-800-707-0102.

I too am from New York, and have the following pdl's.All internet.

Mte 300 paid 360
cash advance network 300 paid 360
united cash loans 300 paid 360
500 fast cash 300 paid 360
ambassador collection 300 paid 360
stc advance 200 paid 296
payco 200 paid 198
discount cash advance 500 175.

You are the best on this board and i truly appreciate all the help that you can give

All you are morally obligated to repay is the amount borrowed. These loans are not legal in NY. You need to close your account so they can not get any more of your money. You actually have overpaid most of them. You owe 2.00 to payco and 325.00 to discount cash. The others owe you money.

Has anyone ever heard of stc advance? they operate under the laws of Granada, so they are not legal I assume.Problem being I need to send the letters to an address.

Star Advance is indeed illegal and very willing to give pif to NY residents.

ohhhhhh star is STC.Thank you.Is there an address around for them.

I believe if you go to the star advance website they actually have their address listed. I may have misread your post. I am not 100 certain that stc is star advance. IT is not star advance. Here is a link thhttp://www.debtconsolidationcare.com/paydayloan/tennessee-pdls-3.html
that may help you. Seems like stc is hard to find

Kash,

I could not get into that link you sent me.I am going to my bank on friday to close the acoount or at least put a hard block on. Then do i send the letters?

Thanks for the info on my payday loan companies....do you have a C & D letter that I can use to send to these companies....I was told to send them by email and fax, but how would I obtain that info? If I search this site, would I find it?

Many thanks to all who responded
BTB

BTB. . .I posted the C and D letter that I used earlier in this post. Check the previous pages for it.

tffay. . I don't think that STC is the same as Star Advance.

tffay. . don't send anything to the PDL until you close your account or hard block it. Make sure that any debits will not force it open again.

llW1995.
Do you have any idea who STC advance might be? That is one of the few addresses I dont have anything for. AreYou are from NY as well.?

LLW1995.....where do I insert the banks info? What is the blank line for in the letter you posted....I'm new to all this....Can you elaborate a little more?

Yes I am in New York and no, I don't have any idea who they might be. I can tell you I tried to get into their site and there is no way to do so. It came up with some password on there and when I tried to login it told me that it was invalid. No way to access as a new customer. They seem to be pretty illusive. Have you tried asking your bank for the identifying info from the debit? You can ask your ACH department to help you. If you didn't close your account you should do so. They you can contact the processor that is listed for them on your bank statement, or you can call the big processors yourself and see if they can help you. Notifying the processors is a piece of the puzzle that you need to complete to help you find your way out of this. AND, being a New Yorker is a big benefit in this siutation. Keep us posted.

Does anyone have any information on 247 Cash Advances? I have a payday loan with then and need contact info.

Thanks!
BTB

BTB. . .you don't have to insert any bank info on the C and D letter I posted. You can pretty much use it as is since you are in New York as well. I think the blank line which had an "I" at the beginning was just a glitch in the copying. Send that letter to the PDLs but copy it over first so you can print it and take it to your bank so they know that you have revoked the ACH authroization with the lender. The processor will also need to know that you have revoked the ACH authorization before they will help you in with stopping the debits. Let me recopy it here:

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

Citation:
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
Fax:
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, as well as my State Senators, Jim Alessi and Hillary Rodham Clinton.

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.


This will pretty much cover all the bases as far as what they may or may not try to do. Hope this is more clear for you now. You can email this over to the PDLs and then hard copy if you want. I never did anything by email. Once this is emailed, give it to your bank and ask them if they can give you the information on who processes for the PDLs on your bank statement. Then call the processors and let them know that you have revoked your ACH authorization. I will go back and see who your PDLs are and if I know who processes for them. Keep us posted.

BTB. . ameriloan and UsFastCash process with Intercept EFT 1-800-378-3328 and ask for Cindy. They also use Bremer Bank for their financial transactions. That number is 1-800-908-2265. I can't stress enough how important it is for anyone dealing with this to contact the processors. They are the ones who are responsible for moving the PDL funds. If enough of us make those calls, they processors will be alerted to the fact that they are debiting angainst a revoked account and they will not be happy. If we don't let them know, who will. Certainly not the "reputable" PDLs. I have to believe that the PDLs are feeling the heat from the processors and vice versa.

Should i contact both Cindy and Bremer Bank and let them know what is going on? I have already closed my bank account and therefore revoked my ach's....was that the right thing to do at this point....I have email addresses for fast cash, ambassador, impact cash, and ameriloan, I have a phone number for NLS, and have no info on 2-4-7 cash advances...I am going to contact the bank to find out who processes for all of these and contact the processors by phone....Then i should contact the Better Business Bureau (I will give them the info on all of these loans at the same time) then I will do the same with the Federal Trade Commission and then notify Senator Hillary Clinton's office...will that take care of it?

BTB. . .sounds like you have pretty much everything covered. I did mean to say in my above post that I did just about everything by email, not snail mail or fax. Sorry bout that. Just a typo. I would contact Cindy at Intercept first. You could call Bremer and let them know as well as it couldn't hurt to hear it from you. One more important thing. Once you contact Intercept and the Bank, send another email to ameriloan and UsFastCash and let them know that you have notified Intercept of the revocation. You should also ask Cindy about the other PDLs as they may use them as well. I don't know as I was never involved with them. Perhaps someone else on here would know. If you hit a snag and they say they can't do anything about it, don't take it. Just keep at them. Cindy is really nice and I am sure that she will help you in the way she can. Please keep you chin up. Things will get better. Have a great evening.

Well things will certainly get better, since I won't be giving 80% of my paycheck directly to companies....I almost had to live on the street in order to feed myself...I have been in a horrible place for months...All of the assistance you have provided me I am truly grateful for...if you are anywhere near the Albany area, I would buy you dinner to say thanks!!

Peace...and I will keep you posted
BTB