I'm new here and I need your help
Date: Sat, 08/01/2009 - 05:42
I'm new here and I need your help
My wife took out 4 small internet payday loans w/o my knowledge for around $200 each. After looking at her bank statement (which my name is also on) and seeing her whole paycheck was going to fees, intrest and overdraft fees we closed the bank account because we are being totaly wiped out. We live in New York and the laws here seem to be kind of vague. I'm sure she will begin to get phone calls at work soon, collection calls, etc. The companys are as follows:
Ameri Loan $220
One Click Cash $200
Emerald $200
Vince Enterprise $260
I'm trying to find out what the law regarding these are in New York State. Again the New York State Law seems pretty vague. She is not trying to default on these loans and wants to pay them but they do not seem to want to work w/ us. I've seen some blogs saying they will prosecute for fraud ect. and that can be a little un-nerving. I'm looking into hiring a consumer law attorney Monday. Is this a good idea? I need your advice soon folks. Thaks for your help and God Bless. -Jay
Ameri Loan $220
One Click Cash $200
Emerald $200
Vince Enterprise $260
I'm trying to find out what the law regarding these are in New York State. Again the New York State Law seems pretty vague. She is not trying to default on these loans and wants to pay them but they do not seem to want to work w/ us. I've seen some blogs saying they will prosecute for fraud ect. and that can be a little un-nerving. I'm looking into hiring a consumer law attorney Monday. Is this a good idea? I need your advice soon folks. Thaks for your help and God Bless. -Jay
reply
pdl's are totallt prohibited in NY.any fees debited go towards the loan.foe example
you say ameriloan was 220.00 borrowed.let's say they debited 4 times at 60.00 by your state law she owes nothing more.see if she can find out much was debited by each pdl.she may only need to file AG AND FTC complaints against each pdl.there is a sticky at the topof this forum that shows how to deal with illegal lenders.give that a look.you might be suprised at how little if anything she does owe,and how easy it is to handle these places once you know your rights.hope this helps.
