Sending me to collections

Submitted by Anonymous (not verified) on Wed, 06/19/2013 - 12:33
Forums
Credit repair

Pdl's are illegal in NY and I know that and have closed down my accounts and some companies worked with me and marked my accounts as paid in full....some wont work with me and say they are sending me to collections....if they are illegal in NY can they effect my credit report?

sallynachelle

Welcome to the forums!!!
No they can't. Illegal lenders can't report to the credit bureaus. Payday lending is prohibited in NY. You owe them nothing more than the principal. You have done the right thing by closing down your old bank account.

Thu, 06/20/2013 - 05:53 Permalink