Are payday loans illegal in new york and how do i get out of it

I have pay day loans since nov of 2010 and jan of 2010 the interest and principle should have been paid of ten times already tell me what i could do i cant pay my normal bills and mortgage with them taking what they take

13 Answers

Did u go to jail


i have a payday loan from cashyes. it was for 500. i have already paid 520. back in finace charges. i just found out payday loans are illegal in nys. what is the difference between finace charges and principle?

 

 

 

 

 

 


I have 4 payday loans, I enrolled into this program with a lawyer in Calf. I pay 470.00 a month, which goes into a savings account. In the meantime the lawyer gets in touch with your payday loans to find out if they are legal in NY. I think this is a great program, at the end of seven months, whom ever is legal is paid back. I had 4 payday loans, paying 1,100.00 a month, paying that amount there was no end in sight, with this system I will be paid up in Febuary. (A light at the end of the tunnel)


where can i even get a payday loan in NY


The so called owner of collection agency wouldn\'t tell you this as you can see...not to profitable for them lol


A debt collector told me one of his co workers took over 2 grand in pay day loans, this is NYS. He works collections for payday loans he told me they atr illegal in this state and you dont have to pay it back, it won\'t effect your credit nor if they try and sue you don\'t have to go to court. I was told all it does is goes to collections where they hope and pray to scare you into collecting


Fuck mr bill collector your lucky i dont have your address, people like you need to be taught a lesson. If PDL is illegal in your state, you only owe the principal. If you have paid this and you are being turned into to a collection agency like this asshole here then you need to file a complaint with your state. General most collection agencies will stop if you inform them that they are trying to collect a pdl debt from a resident of a state where pdl is prohibited. If you are in *NEW YORK* the new laws prohibit all pdl so dont be fouled by world wide web contracts and all that bullshit. This asshole "bill collector is telling you all to pay what you owe because he knows he cant do shit about, those collection agency are as legit as the pay day loans you guys took out, and they dont report on your credit


man fuck that file bankruptcy it does fuck up your credit but hey if you resorted to payday loans ur credit is already jacked from what i hear all that intrest is illegal u only owe the principle balance which is what you borrowed


with being an owner of a collection agency and buying payday loan debt i figured after reading this i would help you(even if its just $200...and yes they will take you to court for $200) people. if you take that mortgage or any other loan you pay the interest. you are not the one who tells the bank the terms. Guess what same thing goes for these lenders. you can not borrow money agree to the terms and then after you get the money choose what your gonna pay back. if you agreed to it then pay it asap. and for all of you who know its illegal to take, if they take you to court yes you bounced a check which is illegal in ny state and you obtained a loan where you legally where not able to do so. PAY YOUR BILLS be happy i dont have your account. for all that read this bs online and then lose in court they always say I DIDNT KNOW...now you do!


I'm in the same boat with you!

I just did all the math and have overpaid these people by almost $900.

I found this http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html

I'm calling the bank tomorrow and opening a new account.

 


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