Pay Day Loan appearin on my credit report as collections account
Date: Wed, 04/28/2010 - 07:49
I took out a payday loan over a year ago from MyCashNow. I have paid back the principle amount and after talking to people on here got my attorney general involved and stopped paying them interest becasue i paid the amount that i borrowed back. HOwever i have a collections account for $900 appearing on my credit report. Pay day loans are illegal in NYS. I put a cliam in to have it removed from my report but i just got a email saying its valid. Is there anything i can do?
If you came to know that this PDL is a valid PDL then the best o
If you came to know that this PDL is a valid PDL then the best option will be to go for a settle program, where the settlement company can settle this can by negotiating with them on your interest charges as well as the principal amount.
But I already paid way over the amount I borrowed. If there ille
But I already paid way over the amount I borrowed. If there illegal how can it appear on my report
Hi
You can check the law for this PDL from these links:
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/stateinfo.asp [/COLOR][/LEFT][/FONT][/COLOR]
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/legal.asp [/COLOR][/LEFT][/FONT][/COLOR]
You can check the law for this PDl from these links: [COLOR=#0
You can check the law for this PDl from these links:
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/legal.asp [/COLOR][/LEFT][/FONT][/COLOR]
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/stateinfo.asp [/COLOR][/LEFT][/FONT][/COLOR]
You can check the law for this PDl from these links: [COLOR=#0
You can check the law for this PDl from these links:
[COLOR=#000000]http://www.paydayloaninfo.org/legal.asp [/COLOR]
[COLOR=#000000]http://www.paydayloaninfo.org/stateinfo.asp [/COLOR]
[QUOTE=Peter Simon;691264]If you came to know that this PDL is a
[QUOTE=Peter Simon;691264]If you came to know that this PDL is a valid PDL then the best option will be to go for a settle program, where the settlement company can settle this can by negotiating with them on your interest charges as well as the principal amount.[/QUOTE]
peter.that is horrible advice.the OP should get a DV letter to whoever is reporting this bogus debt.then re-file their disputes with copies of their AG complaint about this pdl.i did that,and had two removed no problem.once the CRA'S got the hint my AG was involved.they deleted/removed.how can you advise paying on an illegal loan that was paid?there are ways to get it removed.even suing the pdl,or collector.
The advice I have given based on the comments thats its a valid
The advice I have given based on the comments thats its a valid PDL. In that case he has to pay his outstanding balance. So for that he has to be sure whether its Valid or not. If its not valid then he can follow the advice given by you.
being as the OP is ny.that means the loan is illegal as pdl's ar
being as the OP is ny.that means the loan is illegal as pdl's are prohibited in ny.the credit bureaus need to get their house in order as far as checking disputes.this is an illegal debt that they overpaid.either they should re-file the dispute,or look into suing the place illegaly reporting the debt.
These links might help you to see whether this PLD is valid or n
These links might help you to see whether this PLD is valid or not
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/legal.asp [/COLOR][/LEFT][/FONT][/COLOR]
[COLOR=#000000][FONT=Times New Roman][LEFT][COLOR=#333333]http://www.paydayloaninfo.org/stateinfo.asp [/COLOR][/LEFT][/FONT][/COLOR]
spare me.i looked at other links provided by others,and it clear
spare me.i looked at other links provided by others,and it clearly states that pdl's(especially internet)are prohibited in ny.don't know what you are trying to sell or imply peter,but i don't like it.my advice stands.