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Hey guys...

So I have 5 outstanding PDLs. One is currently in re-payment, the other 4 call me every single day, multiple times a day at work and at home.

I closed my bank account in March due to these loans, My bank account never re-opened or anything, and payments to these companies stopped.

Who knows what I really owe with the interest piling up:
I owe 500fastcash $480
I owe cashfirstonline.com $390
I owe cashdirectexpress.com $506

I have 8 payments of $50 left to go with paydaytogo.com
and I owe ezpaydaycash.com $65, who I will pay once I am done paying paydaytogo.

The only reason I am repayment now with paydaytogo is because my job informed me that they requested to garnish my wages for $600 dollars. My loan was initially 300 bucks, I didn't want to lost so much money out of my paycheck so I made a deal with them for $50 every 2 weeks until the $600 was paid in full.

How to I go about dealing with this since I am in New York. The fact that they call my office is very stressful. When I answer the phone its like a 50/50 chance that its one of them, and so I just hang up.

I wanted to try to consolidate the loans but the PDLs say that under no cercumstances will they accept a payment made on my behalf by greenpath (the dmp I wanted to work with). I live paycheck to paycheck, am a student and have a dependent. I have no idea what to do. Any advice would be great.




if i'm not mistaken.pdl's are totally prohibited in NY.therefore you only owe the principal borrowed.

how much borrowed from the other three?
how much paid back total?

i don't see how an illegal pdl can garnish,they more than likely
submitted a wage assignment,which is totally revocable.i would do this with your employer,then tell the pdl you made arrangements with that you realize they are illegal.have revoked any wage assignments and will pay the 300.00 and that's it.any resistence should be met with AG complaints.i would also send C&D letters to all pdl's basically stating not to call you at work.send this cretified mail return receipt.once they get that letter,they have to obey or face fdcpa penalties.

Sub: #1 posted on Fri, 08/08/2008 - 20:58

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15506 | Credits: 1356.56)

paul. . .you are exactly right. I am in NY as well and all I paid back on my PDLs was what they deposited into my account. paul has asked for some info on three of your PDLs. I would ask that you give us the information on all your PDLs. . .how much you borrowed and how much you paid back. As you are only obligated to repay the amount of the deposit you may have already fulfilled that obligation. Your account is closed so that is one hurdle you won't have to deal with. If you can supply the info on your PDLs we can go from there. You may be in better shape than you think.

Sub: #2 posted on Fri, 08/08/2008 - 21:22

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

And yes, get those C and D letters out. I know when I sent mine out they did not call me, my work or my references. Except for CPD and once I faxed over my C and D to them, it stopped. Here is what I sent out.

To Whom it May Concern:


After doing research on internet payday loan laws in the state of New York, I have found that your internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the state of New York in general:



------------------------------------------------------------------------ --------

New York State Information

Legal Status: Prohibited

Citation:
Licensed lender law applies but interest rate is that agreed to by contract. N.Y. Banking Law ???? 340 et seq. A check casher licensee cannot make loans nor cash or advance any moneys on a post dated check unless it is a payroll check. N.Y. Banking Law ???? 373. Criminal law sets the usury cap at 25%. N.Y. Penal Code ???? 190.40.

Small Loan Rate Cap
25% per year

Where to Complain, Get Information:
Regulator: New York State Banking Department
Address: One State Street New York NY 10004
Phone: 1-877-BANK-NYS
Fax:
Regulatory Contact: Regina A. Stone Deputy Superintendent
Regulator????????s Website
Complaint Form
Complaint Instructions


I have contacted the New York State Banking Department and the New York State Attorney General????????s Office regarding your internet payday loans and was informed they are indeed illegal in New York and have been advised to pay what is due according to principal amount only of the loan.


A physical address is necessary, as you are no longer authorized to debit my bank account. I will not Money Gram or Western Union any payment. If no physical address is provided for me to mail payment to, no payment will be made.

Any contact must be made through the US Postal Service or email only. I need everything in writing to keep accurate records of all communication as per instruction from the state Attorney General's Office.



I prohibit you or your affiliates from contacting me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan. Once I inform you of this, you must stop the telephone contact immediately or you will be once again breaking the laws of the state of New York.

You are also hereby notified that I am revoking any voluntary wage assignment I may or may not have signed. I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes.

I am revoking your right to debit my checking account any longer. You, your company, or your affiliates are not authorized to debit my checking account from this point on. Please be aware that I have informed my financial institution of this situation and they will also be receiving a copy of this correspondence. Any further attempts at debiting my account will be rejected by my financial institution as my account has been flagged as having fraudulent activity.

I must also inform you that I have filed complaints with the Better Business Bureau, the Federal Trade Commission, my state Attorney General's Office, the New York State Banking Department, as well as my State Senators, Jim Alessi and Hillary Rodham Clinton.

In regards to this matter, I expect a response from your company no later than 10 days from the date of this communication. This response may only come via US Postal Service or email. No telephone contact is permitted.

Hope this helps.

Sub: #3 posted on Fri, 08/08/2008 - 21:29

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

wow.. i had no idea that PDL's were illegal in NY. Thank you for all of the information. I will go through all of my statements and post what they deposited into my old bank account and post for you guys to review. Thanks again so much! I guess I am pretty lucky that I live in NYC.

Sub: #4 posted on Sat, 08/09/2008 - 05:00

Unregistered


Do keep us posted. Everyone here has been there, done that and are more than willing to help you out.

Sub: #5 posted on Sat, 08/09/2008 - 06:23

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

thanks again for the replies... so here is the question... what are my next steps? I send the C&D letters to the PLD companies... IF i can find thier addresses, that is. Then I should copy my bank and employer on the letter as well? I am worried that If I stop the ACH payments that they will try to take my wages again.

Sub: #6 posted on Sat, 08/09/2008 - 19:12

Unregistered


Please don't send out any letters until AFTER you have secured your bank account, or yes, they will go nuts debiting your account! Make sure you send letters AFTER your account is either closed or a hard debit block has been placed on it! :)

Sub: #7 posted on Sat, 08/09/2008 - 19:56

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.85)

Here is information to read if you need to close your bank account:


http://www.debtconsolidationcare.com/paydayloan/close-acc ount.html

Sub: #8 posted on Sat, 08/09/2008 - 20:02

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

i didnt know pdls is illegal in ny what can i do about them i too have problems with them i am a bit confuse about this though whats illegal about them is it the high interest you pay i assume you should pay back the principal i am thinking of closing my bank account if i do can i open in the same bank but with a diferent account or just go to another bank
i have
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Sub: #9 posted on Sun, 08/10/2008 - 02:02

ca11375 ca11375

(Posts: 38 | Credits: 8.57)

ca11375 you have been given advice on this subject, please read what llw wrote above and follow her advice and you will work this out fine. :)

Sub: #10 posted on Sun, 08/10/2008 - 04:24

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.85)

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