Help with PDL's in NJ

None are legal because ALL payday loans are prohibited in your state, see the link below:
http://www.paydayloaninfo.org/stateinfo/NJ.asp

CLICK HERE to find out how to deal with illegal lenders.

You need to close your checking account immediately before any more debits are processed. Send the appropriate letters. Talk to your bank about reversing some of the charges since they are illegally operating in NJ. and don't listen to their threats. They can't do anything except harass you. You are responsible for paying back only the amount you borrowed.

Technically you legally don't have to repay them a dime.

I received this email from little loan shoppe and am not exactly sure what it means

We are in receipt of your letter, and would like to take this opportunity to

address your concerns. The Little Loan Shoppe ("LLS") prides itself in


complying with the law and providing excellent products and customer


satisfaction. We take very serious all complaints and allegations against


our practices and procedures.


























In order to provide the best services available to our clients we comply


with best practices including federal banking guidelines such as the Truth

in Lending Act and Regulation Z disclosures. As part of those disclosures,

and more particular to the instant matter, is the fact that LLS clearly


presents the following disclosure to its borrowers:
























GOVERNING LAW: You acknowledge that we are a Utah-based lender, and you

acknowledge that this consumer Unsecured Short-Term installment Loan

Agreement that is governed by the laws of the State of Utah. You acknowledge

that Utah laws governing this Unsecured Short-Term installment loan


agreements may differ significantly

It's a letter they send to everyone once they have been found out, they're just trying to convince you that they are following the law when in fact they aren't, your state law prevails, period.

I have now received this email. What should I do?


My name is Jeanette and I work for Little Loan Shoppe in our Loss Prevention Department.

It has come to my attention that you have an outstanding balance with us. Working directly with us will save you money from any retainer that a Debt Counseling Company will charge you.

Please allow us to assist you in this matter. Your account may be sent to a 3rd party Collection Company and the amount of your balance may increase. Please call me; my phone number is 1888- 529-3311 so we may talk about your budget and how I can help you reduce the amount of your balance.

Sincerely,

Jeanette - Loss Prevention.

Per the contract you signed it states that You acknowledge that we are a Utah-based lender, and you acknowledge that this consumer Unsecured Short-Term Installment Loan Agreement is governed by the laws of the State of Utah not the laws of New Jersey. You acknowledge that Utah laws governing this Unsecured Short-Term installment loan agreements may differ significantly from the laws of the state where you reside. You agree that courts located in Salt Lake City, Utah, shall have exclusive jurisdiction and venue of any disputes arising from this Unsecured Short-Term installment Loan Agreement.

As I said before, your state law prevails.

So basically it is just an empty threat or can they still try and send it to collections.

Quote:

I feel your pain. I live in New Jersey and had taken out 7 PDL's. When I learned through this sight that PDL's were illegal in New Jersey, I immediately sent revocation letters to each of them. I owe principal balances on 3. Two of them USfastcash and United cash loans) will not accept anything other than a Visa, Mastercard or my checking account info. I asked for the address to send payment and was told that I could send payment there, but could not be sure they would receive payment. Eastside Lenders is relentless. I have paid them over $3,000 for an $800 loan. Now I have National Credit Adjusters sending me a letter for $510.00 saying I owe them from Global Group Holding, which I believe to be Loan Point USA. I took a $900.00 loan out from them in 2009, I've paid over $1,000 back and more from Global Group: $149.95 from my bank account I don't know how many times until I got tired of it and refused to pay and closed my account. I also have a letter from Integrity Advance saying I owe them $1,400.00. I am sending DV letters to the latter two. I'm sure I owe them nothing. I am drowning. I went back and forth with Big Sky Cash for awhile until they stopped sending me threatening emails. I told them they were illegal. They were trying to hide behind the indian nation, stating that our laws didn't apply to them. Manhattan Processing and Global got over $5,000 on $300 dollar loans. I think they are the same company because the account numbers are similar. Since i sent the revocation letters, I haven't heard from a couple of them. I'm on my way to be free of them once and for all.
This is what I have so far:
1) Cash Jar loan: $650.00 paid: $568.00
2) USFast Cash loan: $650.00 paid: $585.00
3) United Cash Loans loan: $600.00 paid: $180.00
4) Global Group Holdings loan: $300.00 paid: $2,050.00
5) Manhattan Processing loan: $300.00 paid: $1,800.00
6) Eastside Lenders loan: $800.00 paid: $3,500.00
7) Big Sky Cash loan: can't remember, but paid $1,280.00 well the amount I borrowed.double if not triple
8) Loan Point, USA loan: $900 paid: $1,043.00- they have a collection Agencey called Intergrity Advance saying I owe them $1,411.00