payday loan in NY
Date: Mon, 06/27/2011 - 12:14
Payday loans are illegal in NY. These CAs are breaking the law.
Payday loans are illegal in NY. These CAs are breaking the law. You need to send them either a DV letter OR a C&D letter.
Payday loans
Hi,
Payday lending is considered illegal in New York (NY). So, legally you owe no more than what you had borrowed from the lenders. You aren't supposed to pay the interests that have accrued on the debt. You can become free of the debt only if you pay back the principal amounts that you had borrowed.
Other than this, as these are the collection agencies now calling you and harassing you over the debt, you should better try to validate the debt. However, you are supposed to send the debt validation letter to the collection agency within 30 days of their first attempt of collection.
Hope this helps,
Marvel Becks
Payday lending is prohibited in New York. Therefore, any kind of
Payday lending is prohibited in New York. Therefore, any kind of payday loan Company in New York is illegal. That why, they have no right to take any legal action against you. You will be liable to pay only the principal amount without interests and other fees. You can make a written request to the CA to validate the debt via certified mail with a return receipt request. If they don???t reply, then forward them a C&D letter.
After that, if they are still trying to harass you, then file a complaint against them to the State Attorney General or FTC. You can also file a complaint against them to the New York State Banking Department.
let me cut in
while i won't re-state the facts already stated.i will ask these questions.
1)how much was borrowed from each
2)how much was debited by each
since we already established the loans are illegal.if the OP can provide those two bits of info we can come up with how much is truly owed on these,and not what the slime lenders,or collectors thinks they owe.
