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 Posted: Mon Sep 24, 2007 1:11 pm |
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I have taken out several payday loans and can not pay them. What can I do. Im in Calif.
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b777j
Joined: 24 Sep 2007
Posts: 33
Debtcc Points: 1265
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| Posted: Mon Sep 24, 2007 1:12 pm |
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| Quote: | California State Information
Legal Status: Legal
Citation:
Cal. Fin. Code ยงยง 23000 to 23106
Loan Terms:
Maximum Loan Amount: $300
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot charge fee for extension)
Cooling-off Period: None
Repayment Plan: Voluntary (no fees may be charged in conjunction with payment plan)
Collection Limits:
Collection Fees: $15 NSF fee
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: California Department of Corporations
Address: Financial Services Division, 1515 K Street, Suite 200 Sacramento CA 95814
Phone: (866) 275-2677
Fax:
Regulatory Contact: ,
Regulator Website
http://www.corp.ca.gov/
Predatory Lending Fact Sheet |
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5461
Debtcc Points: 38903
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| Posted: Mon Sep 24, 2007 1:14 pm |
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I have posted the laws for your state. Please list for us the following
who you have loans with.
The amount of the loan and what you have already paid back(principle and fees as one total)
Are your loans store front or internet?
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5461
Debtcc Points: 38903
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| Posted: Mon Sep 24, 2007 1:18 pm |
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Welcome to the forum b7.
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eleroo
Joined: 06 Jun 2007
Posts: 1227
Debtcc Points: 14309
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| Posted: Mon Sep 24, 2007 1:33 pm |
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payday one 255.00 which is leagal in my state (talked to stay and said they will hold untill 10-2-2007)
payday-loan-yes 350.00 no payment yet.
cashnet usa 255.00 which is legal in my state
vc funding 300.00 no payment yet
netcashusa 400.00 paid 120.00
cashsupply don't remember how much loan was and ca't find bank statement, but have made two payments of 82.50
loan shop/northway credit 300.00 no payment, (this one told me i was approved for 200.00 and my payments whould be 60.00, but they gave me 300.00 not 200.00 and they never sent me anything to sign.
Dose anyone know how to get in touch with vc funding and the loan shop.
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b777j
Joined: 24 Sep 2007
Posts: 33
Debtcc Points: 1265
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| Posted: Mon Sep 24, 2007 1:35 pm |
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all the loans are internet
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b777j
Joined: 24 Sep 2007
Posts: 33
Debtcc Points: 1265
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| Posted: Mon Sep 24, 2007 2:01 pm |
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I just got off the phone with my h.r. person where i work and she goy a hold of my payroll company and they are going to send me a pay check and stop my direct deposit so thease loans won't be abble to get my money. I asked her about garnishments of wages and she told me they whould have to have a court order and the lady that handles this (for 10,000 employees in several states) Knows the laws in all of them and whould not just take a letter,it has to be court documents. Man, this has taken a load off my shoulders.
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b777j
Joined: 24 Sep 2007
Posts: 33
Debtcc Points: 1265
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| Posted: Mon Sep 24, 2007 2:08 pm |
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The information I have for VC Funding is:
Phone 866-281-9011 and fax 866-379-7667.
Also customer service #866-355-7308.
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motomom716
Joined: 17 Oct 2006
Posts: 143
Debtcc Points: 2117
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| Posted: Mon Sep 24, 2007 2:11 pm |
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Payday One is licensed in CA:
| Quote: | Lic. Status: Active License
Lic. Date: Dec 31 2004
Lic. Number: 1002142
Lic. Type: Deferred Deposit Originator
Name: PAYDAY ONE OF CALIFORNIA, LLC
Address: 4150 INTERNATIONAL PLAZA, SUITE 400
FORT WORTH, TX 76109 |
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111611
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| Posted: Mon Sep 24, 2007 2:14 pm |
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loan shop/northway credit 300.00 no payment, (this one told me i was approved for 200.00 and my payments whould be 60.00, but they gave me 300.00 not 200.00 and they never sent me anything to sign.
What do I do about this one since I never signed any thing and they gave me more than what they said they would.
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b777j
Joined: 24 Sep 2007
Posts: 33
Debtcc Points: 1265
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| Posted: Mon Sep 24, 2007 2:17 pm |
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Cash Net USA is licensed:
| Quote: | Lic. Status: Active License
Lic. Date: Sep 08 2006
Lic. Number: 1003271
Lic. Type: Deferred Deposit Originator
Name: CASH AMERICA NET OF CALIFORNIA, LLC
Address: 200 WEST JACKSON STREET, SUITE 2400
CHICAGO, IL 60606 |
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111611
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| Posted: Mon Sep 24, 2007 2:19 pm |
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Payday Loan Yes is also known as Cash Net 500 - They are awful to work with.
_________________
How I make some extra cash
I earn at least $20 extra every month doing offers. And you don't have to pay a cent.
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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 8007
Debtcc Points: 111611
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| Posted: Mon Sep 24, 2007 2:25 pm |
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how would I deal with the internet payday loan people to pay back what is due them and not a penny more.
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b777j
Joined: 24 Sep 2007
Posts: 33
Debtcc Points: 1265
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| Posted: Mon Sep 24, 2007 11:11 pm |
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Since they can not access your money any longer, they are going to contact you. I see that goudah has posted that a couple of them are licensed. They are more than likely abiding by the law. The illegal ones, you can fight to just pay the principle amount. However, the loan you received that you said you never signed anything - was this a "verbal agreement"? Or did you apply for the $200 and they gave you $300 instead. If this is the case, when you applied for the $200, you did it over the internet? So they have your electronic signature? Or was this one a "verbal contract" over the telephone?
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9374
Debtcc Points: 124815
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| Posted: Tue Sep 25, 2007 5:09 am |
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they told me I was approved for $200. and the interest whould be $60.00 and that they whould send be somthing to sign over the internet to my email and they never did and i check my account the next night and there was $300. instead of $200. I went though the loan shop,but northway credit put the money in my account. Im very confused on this one.
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b777j
Joined: 24 Sep 2007
Posts: 33
Debtcc Points: 1265
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| Posted: Tue Sep 25, 2007 8:42 am |
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If Northway Credit deposited the money, then they are doing illegally.
First of all, there is a Cease and Desist order against several PDL's in the State of California. Northway Credit (Sonic Payday, Paydayavenue, E-Care Centers) is one of the PDL's under the Cease and Desist Order.
Here is the link to check if your Internet PDL has a Cease and Desist order against it. Look for it alphabetically. If it does, notify Department of Corporations for the State of California and also notify the lender.
http://www.corp.ca.gov/enf/info/dr/list.htm
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PDLInvestigator
Joined: 24 Feb 2006
Posts: 148
Debtcc Points: 4315
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