Ameriloan tease is a paydayloan company i was desperate for money they lend me $300.00 dolars and every week the take out $120.00 out of my bank accuont ,i told them that i want to pay the amount they lend me Internet

They are doing the same thing to my husband and I! I just posted my report a bit ago, so its not showing just yet... My deductions are coming out monthly, but in multiple transactions and different amounts each time! It has been going on now since January. They say they cant access any of my account information without an account number (which I never received), nor did I ever receive the paperwork/documentation of the agreement. They refused to tell me how to manually pay any amount. I cant login on the website because when I say "forgot password" and put in EVERY email I have, it says "The email address you entered does not exist. Please try again."

Miss Melinda: I'm going to talk to my bank tomorrow and see about getting a Stop Payment put on the account. Thanks for the idea!

My Report:
AMERILOAN Misappropriation, Deception, Concealing Information Internet, Internet
(Beaverton, Oregon)

According to the FTC website, "The Federal Trade Commission has taken action against a payday lending operation that allegedly piled on undisclosed and inflated fees, and collected on loans illegally by threatening borrowers with arrest and lawsuits.  The FTC has asked a federal court to stop the allegedly illegal business tactics while the agency pursues its case against the defendants."

See here at FTC website for more: http://ftc.gov/opa/2012/04/amg.shtm

"The FTC brought suit in the U.S. District Court for the District of Nevada on April 2, 2012.  The complaint names as defendants Scott A. Tucker; Blaine A. Tucker; Timothy J. Muir; Don E. Brady; Robert D. Campbell; Troy L. LittleAxe; AMG Services, Inc.; Red Cedar Services, Inc.; SFS, Inc.; Tribal Financial Services; AMG Capital Management, LLC; Level 5 Motorsports, LLC; LeadFlash Consulting, LLC; PartnerWeekly, LLC; Black Creek Capital Corporation; Broadmoor Capital Partners, LLC; and The Muir Law Firm, LLC.  The complaint also names as relief defendants Kim C. Tucker and Park 269 LLC."

Additional information: http://ftc.gov/os/caselist/1123024/index.shtm

"Federal Trade Commission v. AMG Services, Inc.; Red Cedar Services, Inc., also doing business as 500FastCash; SFS, Inc., also doing business as OneClickCash; Tribal Financial Services, also doing business as Ameriloan, UnitedCashLoans, USFastCash, and Miami Nation Enterprises; AMG Capital Management, LLC; Level 5 Motorsports, LLC; Leadflash Consulting, LLC; Partner Weekly, LLC; Black Creek Capital Corporation; Broadmoor Capital Partners, LLC; The Muir Law Firm, LLC; Scott A. Tucker; Blaine A. Tucker; Timothy J. Muir; Don E. Brady; Robert D. Campbell; and Troy L. Little Axe, Defendants, and Park 269, LLC; and Kim C. Tucker, Relief Defendants. 
(United States District Court for the District of Nevada)Case No. 2:12-cv-00536 
FTC File No. 112 3024"

Source: United States Federal Trade Commission, www.ftc.gov

Just go to the bank, tell the teller you want to put a STOP PAYMENT. You fill out a form. Make sure that it is 4 ever written. When it comes time 4 them to get the money. They CAN NOT get it :) I did that on 2 of them. Reason is, I received a threatening phone call. They gave both names and the amounts of the 2 loans. I got scart  and the very next day I was at the bank , waiting for them to open. They helped me get done what I needed, and it started right then.They they also put on there for ever! When it came time they tried to get the money.They couldn't get anything. The next month.They tried again, same thing, they tried different amounts.No money. This will help you so they can not get anything from you.

i was desperate for money
- Your problem is the one word underlined in the statement you made.  I can just about guarantee you that the rate was disclosed in any terms you may have agreed to.  But because you were desperate you basically ignored it figuring it really doesn't matter, or you will deal with it later.  Well later is now and you need to deal with it.

I don't know NY law specifically, but if you are 100% sure that your loan is illegal you should pursue that.  However, just based on what I was able to look at it seems as if they may be getting through a few loop-holes in doing things through the Internet and EFT's.  If it does turn out to be legal the best thing you can do is contact them and find out how much you need to pay to get it paid down as quickly as possible.  Because most likely the $120 is just paying the Interest and not reducing your balance.