Pay Day Loan....What do I do?
Date: Fri, 09/12/2008 - 11:58
I live in NY and have a pay day loan through Speedy Pay Day. They continue to withdrawl $120 from my account twice a month. I have never had a pay day loan before and need help. I have tried to call the number listed on my bank statement, but get an automated message and no returned call. They have already taken over $480 from me (althought the loan was for $400) and I haven't paid on the loan principle. Can someone please advise me how to pay this off or what other action I should take?
Any advise is appreciated.
Any advise is appreciated.
reply
if i'm not mistaken PDL'S are prohibited in NY.if they are,you are only obligated to pay the principal.which means you have paid this loan off.you need to close your account and open a new one,or have a hard block put on it.which pdl have you borrowed from.chances are they will debit indefinitley if allowed.
I borrowed from Speedy Pay Loan...I can't find any information f
I borrowed from Speedy Pay Loan...I can't find any information for them or anything on the laws for PDL's in NY State.