Help! Questions About Payday Loans In New Jersey...
First, I am thankful to have found this forum.
I live in New Jersey and I currently have 13 PDLs (donâ€™t ask how)â€¦.amount owed and finance charge are in parenthesis:
Paradise Cash Advance ($750 / $187.50)
Cashjar ($650 / $162.50)
Lakota Cash ($600 / $180)
Ameriloan ($450 / $135)
United Cashloans ($400 / $120)
Red Stone Cash ($400 / $140)
National Group, LLC ($350 / $105)
Beacon ($200 / $89)
MyCashNow ($440 / $70)
EastSide Lenders ($750 / $225)
Cardinal Mgt ($300 / $90)
Mesa Financial ($300 / $90)
Intergrity Advance ($500 / $150)
I now realize, from information obtained from this board, that PDLs are prohibited in New Jersey.
I have already closed my account at BofA, so that the ACHs do not continue to accumulate and take my money (I also stopped direct deposit before doing so).
I have also begun to contact each PDL provider and make payment arrangements. HOWEVER, most of them are still trying to get me to pay the finance charge as part of these arrangements. Based on my understanding from this board, I do not HAVE to pay that finance charge, only the principle amount.
My questions are:
1. Which of the foregoing providers I listed is an illegal lender or internet lender only? If there are any, how should I handle what I owe them?
2. Should I continue to negotiate in good faith with these providers? Or just let the chips fall where they may, considering that their operations are considered illegal in New Jersey?
3. If I don't make payments to them, can they come after my wages in the form of a garnishment?
Any help would be greatly appreciated. Thanks!