Payday Loan Default

[desperatelady]

What is the name of your state? New York

What can payday loan companies do if I default on my loans? They have accessed my checking account taking out more than what was agreed to causing large overdraft fees and the bank closed my account without my knowledge. Some of these companies have collected over $500 on a $300 loan and none of it went toward the principle. I lost my job and can barely pay my utility bills and rent. They will not work with me on payments as they want their money now and the fees are piling up. Bankruptcy is not an option as I filed in 2001 due to excessive medical bills and was discharged . I have no assets of any value and my vehicle is financed. Any suggestions would be appreciated!!!

If you default on your loans, the creditor can get a judgment against you and go after your assets.

[Ladynred]

Wait a minute, Payday loans are ILLEGAL in NY, the AG has shut them down, permanently. So, where did you get these payday loans ???

How did they access your checking account?

[desperatelady]

They accessed the account through ACH. A contract was signed specifying the dates and amounts that were to be withdrawn. I know this was very stupid on my part.

Have you thought about suicide?

"Disclaimer: Please take this advice at face value, and take any other answers into consideration when forming your own conclusion. I'm a "moron". Therefore unqualified to give advice on this board."

Dontcha like hookers no more?

judge, thanks for noticing that. I didnt take that off, the administrators must have. I guess somebody got offended by the word "hooker". I could have meant a tow truck for all they know. Some people are so sensitive. There we go, lets see how long they let me keep this one up.

[desperatelady]

Yes I Have Thought About Suicide, Many Times. I Am In A Very Serious Mess And Need Serious Advice As What To Do. I Don't Need Advice Like Yours Fat Tony. Thank You.

Originally Posted by desperatelady

Yes I Have Thought About Suicide, Many Times. I Am In A Very Serious Mess And Need Serious Advice As What To Do. I Don't Need Advice Like Yours Fat Tony. Thank You.

Then that is far more serious than money.

Please go get some help.

[Colm24]

Hello, I am posting for a friend who has got himself 5 payday loans.... The thing is, is that he is Irish and on a Visa Program. Can someone tell me what happens if he closes his bank account down and does not pay them as they should not have even given the loans in the first place as he does not meet requirements. He lives in Alexandria VA

Originally Posted by Colm24

Hello, I am posting for a friend who has got himself 5 payday loans.... The thing is, is that he is Irish and on a Visa Program. Can someone tell me what happens if he closes his bank account down and does not pay them as they should not have even given the loans in the first place as he does not meet requirements. He lives in Alexandria VA

Post this in immigration law.

Start your own thread.

[Colm24]

Originally Posted by seniorjudge

Post this in immigration law.

Start your own thread.

what do mean? do you think he can avoid having to pay?

[Ladynred]

He committed fraud since he did not meet the 'requirements' and obviously lied to get the loans. You need to post this in the Immigration law forum.

Originally Posted by Ladynred

He committed fraud since he did not meet the 'requirements' and obviously lied to get the loans. You need to post this in the Immigration law forum.

This thread's dead anyway so I am going to risk a hijack.

Didn't you have a bunch of nifty websites for debtor-creditor stuff?

If so, post them here so I can add them to my database.

Thanks!