Monthly Archives: August 2014

Debt Collectors Calling You? How to…

Are debt collectors hounding you? Calling your home? Your cell phone? Your work? Are they calling your family members and friends? You can put a stop to this and to the stress it’s causing you.

Collectors are trained to beat you to a pulp. I/ve been a collector for years. It’s a job. And Ive been well trained to coolect money from you; even if you don’t really owe the money. Even if my employer paid 2 cents on the dollar for some old debt of yours that your original lender wrote off years ago.

Maybe you had a few payday loans. You might have borrowed $300 from a couple of payday lenders. They ACH’d the $75 fees from your bank account for a while. Then, you lost your job, or needed to fix the car… whatever.

Eventually, you closed your bank account. And you forgot about it. Suddenly, your phone is ringing, messages to call the collector are left with your mom, your girlfriend/boyfriend, your new employer is discovered and the stress begins again.

What happened? My boss bought your $1200 bad debt for $24.00 And you foolishly applied for another loan or managed to get a secured credit card, or maybe you tried to buy something somewhere on credit. Anyway, you’re back in the system and you’ve been found out!

What to do? Start here: Don’t Payback Your Loan

Illegal Payday Loans and New York Data Base

18 Ways to Kiss Your Payday Loan Lender Goodbye
Payday Loan Help


Governor Andrew M. Cuomo announced creation of a data base to help banks identify and stop illegal, online payday lending in New York. “DFS built a database of companies that have been subject to actions by DFS based on evidence of illegal payday lending. The database will be a powerful due diligence tool for financial institutions to protect consumers and help ensure that electronic payment and debit networks are not used to transmit or collect on illegal, online payday loans to New Yorkers. Today’s announcement is the next in a series of steps DFS has taken during a more than year-long investigation to stop illegal payday lending over the Internet in New York.”

“Our administration is continuing to aggressively combat online payday lending – and today we are urging the private sector to join us in protecting New Yorkers from this illegal activity,” Governor Cuomo said. “I applaud Bank of America for stepping up as an industry leader in this area and doing the right thing to help safeguard New York’s consumers.”

Benjamin M. Lawsky, Superintendent of Financial Services, said: “We are pleased that Bank of America set a strong example and partnered with us on this issue. In the coming days and weeks, we will be reaching out to additional banks asking that they join us in this effort. It is vital that we combat these illegal, predatory loans, which trap New Yorkers in destructive cycles of debt.”

Payday loans are illegal in New York. Still, payday lenders offer loans via the Internet.

The CEO of Bank of America stated, “B of A intends to use the database in several ways that will help stop illegal lending in New York. The database will enhance Bank of America’s due diligence and “know your customer” procedures by identifying companies that may be engaged in illegal lending. Bank of America plans to use this information to help confirm that its merchant customers are not using their accounts to make or collect on illegal payday loans to New York consumers. Bank of America also plans to use the database to identify payday lenders that engage in potentially illegal payday loan transactions with its New York consumer account holders, and, when appropriate, contact the lenders’ banks to notify them that the transactions may be illegal. Further, Bank of America will provide DFS with information about payday lending activities by lenders listed in the database including identifying lenders that continue to engage in potentially illegal lending activities despite the Department’s previous actions.”

Of course, dear reader, this doesn’t mean that Bank of America will stop providing operating capital to payday loan lenders.

For a list of regulators to contact if you suspect your payday loan is illegal, invest $2.99 in my new book, “18 Ways to Kiss Your Payday Loan Lender Goodbye” available on Amazon now.

Military Loan? You Don’t Owe Lender Money

How to get out of your payday loans
Payday Loan Help

Rome Finance, operating as Colfax Capital Corporation and Culver Capital, LLC, financed loans almost exclusively to military members for computers, Xbox games and other goods and services via websites and at malls next to military bases. Payments were ACH’d from the military member’s paycheck and were collateralized by access to their bank account.

New York Attorney General Eric T. Schneiderman, announced settlement with Rome Finance Company, based in California and Georgia. The settlement liquidates Rome Finance, provides nearly $92 million in debt relief to over 17,800 United States military members worldwide, defines all outstanding debt “as paid in full” with consumer finance reporting agencies, and bans new business by the company and its principals.

Military members may keep all merchandise purchased, but debts linked to the debt must be erased and judgments vacated on request. Over 550 New York State military members, with a combined total of over $2.2 million in Rome Consumer debt, will benefit directly from this settlement.

Attorney General Schneiderman “alleged multiple illegalities, including failing to accurately disclose finance charges and interest rates, knowingly or recklessly assisting in the practice of financing contracts with inflated prices of goods sold, failing to provide required periodic disclosures, violations of State and CFPA’s unfair, deceptive, or abusive acts and practices prohibitions by financing consumer loans and/or collecting on consumer loans, and violation of the Military Lending Act for excessive interest, onerous provisions, and for requiring allotment payment backed by access to a bank account.”

Is your loan illegal? Must you payback the funds you borrowed from your payday loan lenders? What can a lender do to you? Invest $2.99 in my new book available at and find out. It’s likely I can save you SERIOUS MONEY!

Payday Loan Fees by Tips and Donations

18 Ways to Kiss Your Payday Loan Lender Goodbye
18 Ways to Kiss Your Payday Loan Lender Goodbye

There’s an interesting new payday loan lender on the scene. Borrowers get a cash advance on their earned payroll. The fee? Free if you choose. Or, as this new lender hopes, you’ll  make a “donation” or “tip” them for the service.

In essence, the borrower needs a job, direct deposit of their payroll proceeds, a bank account and a time sheet the lender can verify.

This new lending platform is from – you guessed it – Silicon Valley. What’s the lender’s name, you ask? Email me at and I’ll tell you. Otherwise, they will make me kill you  :-)

Don’t Have to Pay Back Your Payday Loan!

18 Ways to Kiss Your Payday Loan Lender Goodbye
18 Ways to Kiss Your Payday Loan Lender Goodbye

By Royal Paine. U.S.states and Canadian provinces require payday loan lenders to be licensed. Did you get a payday loan from an intenet lender? If so, it’s likely your loan was made to you illegally and you don’t have to pay it off.

How do you know? Either  go to and invest $2.99  in my new book or Google the hell out of search terms such as, “my state payday loan license department,” or “my state department of banking,” or “my state department of financial institutions,” or “my state deferred depost license,” or… you get the point.