Payday Loan Nightmare in New Jersey

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Yesterday I went to my bank (TD Bank) and had ACH revocations done for 6 payday loans which were scheduled to debit my account this Friday 7/24. They were for: Eastside Lenders, US Fast Cash, National Payday Loan, Biggest Cash, Web Payday and One Click Cash. Some had already renewed.

I have a government check direct deposited and an ACH coming out for Internal Revenue Service, so I can't close the account. It takes the government 8 weeks to change banks.

What's my next step to get out of this payday nightmare?


aubrey


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Sub: #1 Payday loans are illegal in New Jersey. You are responsible for
Mon, 03/28/2011 - 06:42



Payday loans are illegal in New Jersey. You are responsible for paying back the amount you borrowed. Your first step would be to close your checking account. Then go to the sticky under payday loans, read the information and send your letters.

You can also read about other posters experience with payday loans in NJ by doing a search on New Jersey payday loans.

Good luck and welcome to the forum.


danettere
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Sub: #2 Hi if you look on some of my updated post you will see some thin
Mon, 03/28/2011 - 04:39



Hi if you look on some of my updated post you will see some things able to help you before you file for bankruptcy. Please

I just want to be debt free!!!! One Day at a Time!!!


Unregistered

Sub: #3 I am in big trouble with pay day loans Is it really true they ar
Sun, 03/27/2011 - 19:59



I am in big trouble with pay day loans Is it really true they are illegal in New Jersey? Can I legally stop them and not be in trrouble I will probably be decalring banruptcy not because of these but for other reasons but that may not be for a couple of months what can I do in the mean time


bea2ls

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Sub: #4 i would start a new thread so it gets attention, berserker :) l
Wed, 08/19/2009 - 17:39



i would start a new thread so it gets attention, berserker :)
list the companies owed, how much was borrowed and what was paid back.. there is also a sticky on this board explaining what to do with illegal payday loans.

My new blog.. on trying to get out of debt, making extra money online, just little things I have picked up along the way... http://what-shoulda-been.blogspot.com Updated regularly


Unregistered

Sub: #5 jd marketing and access processing
Wed, 08/19/2009 - 17:35



OMG i am in jersey and i only have 2 payday loans which has been brought down from 5. what do i do to get rid of them? they have been debiting money from my chkng acc for about 3 months so i have more than over payed them. what do i do?


bea2ls

Posts: 3840
Credits: 37055.85

Sub: #6 i would also file with their state's attorney general.. believe
Wed, 08/12/2009 - 07:56



i would also file with their state's attorney general.. believe the NJ one will not do anything at all. maybe the department of banking and finance will do something but i never had any luck with any of the the state's officials (which is sad because i have a government job, lol)

My new blog.. on trying to get out of debt, making extra money online, just little things I have picked up along the way... http://what-shoulda-been.blogspot.com Updated regularly


aubrey


Debt Samaritan
Posts: 1207
Credits: 26204.761432107

Sub: #7 Update - Eastside Lenders
Wed, 08/12/2009 - 07:49



So, I finally heard from Eastside via e-mail after they called me again at work and I told them I couldn't take their call. Told I was liable for the full amount because I was subject to Delaware laws, blah, blah blah. They want me to pay the full amount back in 3 installments. Can't do it. I DID get an address to send the payments to.

Did some further research - www.paydayloaninfo.org
Went to the consumer help section and I'm going to paste it into my e-mail to them, especially the part:

File a complaint: File complaints against Internet payday lenders with your state regulator, your state Attorney General, and the Federal Trade Commission. Regardless of where the Internet lender says it is located, it is subject to your state's credit regulations.


bea2ls

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Credits: 37055.85

Sub: #8 you are on the right track, everything will be okay :)
Fri, 07/24/2009 - 07:07



you are on the right track, everything will be okay :)

My new blog.. on trying to get out of debt, making extra money online, just little things I have picked up along the way... http://what-shoulda-been.blogspot.com Updated regularly


aubrey


Debt Samaritan
Posts: 1207
Credits: 26204.761432107

Sub: #9 Well, I checked my account today and nothing was debited. YAY!
Fri, 07/24/2009 - 07:06



Well, I checked my account today and nothing was debited. YAY! The bank is holding my direct deposit pay as "pending" and it will hit my account tomorrow, so I can transfer it to the new account and then close the old one.

I am expecting an onslaught of phone calls/e-mails shortly. I will send my e-mails revoking ACH from home this weekend.

Thank God for this website.


Unregistered

Sub: #10 Don't give up and make sure you follow the wonderful advice here
Thu, 07/23/2009 - 16:57



Don't give up and make sure you follow the wonderful advice here. I'm from Jersey also and I originallly started with 10 loans and am now down to 2. You can do this. Oh, be careful with Biggest Cash. I am trying to repair my credit and a new collection agency posted on my credit report that I owe $580.00. Coincidentally, this is the same amount Biggest-Cash claims that I owe.


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