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I got a call last night at home and at work from JC Mack from Lighthouse recovery. I called back today and spoke to Bob Barry. I was told that I owe over $1000 on a PDL that they purchased from the original creditor, Cash first. The principal was $480.

I live in the state of NY, and to my knowledge, PDL's are illegal in NY. The guy I spoke to, Bob, said that he knows full well the laws on NYS and that regardless, I would go into arbitration and have to pay the full amount. Is this correct? How can I go about stopping this? As I am sure is the case for most of us, I am in a very rough financial situation and cannot afford to go thru arbitration, let alone pay over $1000 on a loan on $480.

I called the NYS Atty Gen. office and they told me to file an internet based company complaint form, but I did not deal with this compnay over the internet.

The guy seemed nice and was willing to accept payments of $25.00 every 2 weeks, but I don't feel I should have to pay what he is saying is the total balance.

Any advice?

Also, he asked for my work info. I didnt give him an address, but I did state the name of the company. Clearly he already had the info because he called me at work, and not on my direct line's number. Should I advice my HR dept that this comp might be trying to collect from my wages, and that it is illegal for them to do so? What are my next steps?

Did you pay Cash First back the principal of the loan (in roll over fees)? If you did, then you owe nothing more and tell the collector to go screw themselves, and send them a C&D.

If you didn't then all you owe is the principal balance. THAT'S IT NOTHING MORE. And almost all AG's office have an online complaint forum to fill out regardless if the violations take place on the phone/or web. They ask how you were contacted in the form.

I'd also get a wage assignment revocation letter written up ASAP and give one to your employer and send one to the collection agency, and remind them that payday loans are illegal in the state of NY and any Wage Assignment you may have signed you are revoking it.

If you decide to pay the collection agency(for the principal balance), use a re-loadable debit card seperate from your checking account. NEVER EVER give them your account numbers.

Sub: #1 posted on Tue, 05/19/2009 - 22:19

beli2005 beli2005

(Posts: 882 | Credits: 56.68)

Ah yes, do I remember my conversation with Bob Barry...he was quite rude, but I let him have it.

Check out these threads for more information. light-house-recovery.html

Sub: #2 posted on Tue, 05/19/2009 - 22:37

PinkLady PinkLady
(Posts: 1722 | Credits: 277.46)

I googled cash first and I don't even see anything on them. I am not sure that this is even the PDL company I used. It was over 2 years ago that I used a PDL. I know I part part of the principal, but not all of it. I am more than happy to make payments on the principal, but if he is stating that what I owe is over $1000 and my principal was $480, there is now way I am paying all that.

I just filed a complaint online with my state's AG.

Does anyone have a wage assignment revocation letter sample that I could use?

I am going to send a CV and C&D letter tonight, but I am leary of using my address. I am tempted to buy a PO box. Does it matter if I use my home address to send the letter? Also, this dude has called me at work and my sister's house. How can I get that to stop?

Last question... how can I find out if they are licensed to collect in NY state?

Sub: #3 posted on Tue, 05/19/2009 - 23:00


When you write up the C&D Letter tonight, include that they may not contact you at any number they may have, that includes friends,family, work etc.

As far as Wage assignment, do a search in the box to the right at the top and you should come up with a template. Your basically saying that that payday loans are illegal in the state of NY, therefore I am hereby revoking any Wage assignment I may have signed in association with the company.

Sub: #4 posted on Tue, 05/19/2009 - 23:06

beli2005 beli2005

(Posts: 882 | Credits: 56.68)

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