do i have to repay illegal pay day loans

I am a new York state resident that has payday loans. I am aware they are illegal in the state of New York. Am I still obligated to repay them? I also have a question regarding Western Sky loans, are those also illegal?

4 Answers

Morally, you're obligated to repay the principal amount. Legally, the illegal payday loan lenders can't do anything against you. Calculate how much you have paid to the illegal payday loan lenders. If you have paid more than what you borrowed, then ask for a refund.


Payday lending is prohibited in New York. You are required to pay them only the principal balance. Close down your old bank account and open a new one to stop unauthorized withdrawal. Western Sky is also an illegal lender all over the state of US.


Don't pay them anything more than the principal amount. You don't owe them the interest rates or the late fees and penalties.

 


Western Sky is an illegal tribal lender in all states,.  Follow the link in my signature line for information on how to deal with them.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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