Internet's first get-out-of-debt community - 122,000 members

Posted: Fri Apr 21, 2006 8:15 pm Subject: T&C

I am new to the forum. It seems that there are several people who seem really pleased with T&C. Can someone provide me with their email address, if they have one? I have several payday loans that I need to consolidate.

Posted: Fri Apr 21, 2006 8:19 pm Subject:

I went for T&C first. They could not deal with all my payday lenders. My lenders refused payment from T&C. I was contacted by a company referred by this site. They could help me. Go with this site. PM me if you need T&C address.

Posted: Sat Apr 22, 2006 4:24 am Subject:

If you have not received a call from the consultant till now, you will get it shortly. Review all the accounts that you wish to consolidate in the program. Have all papers handy so that the consultant can prepare a better quote for you.

I am sure the consultant will be of great help to you.

Posted: Sat Apr 22, 2006 10:14 am Subject:

truwoman31, has someone already sent you the contact phone number for T&C?
And as the other posters suggested, if you haven't already filled out the consult information for the site I would do so. Then you could compare the two companies debt consolidation plans.

Posted: Sat Apr 22, 2006 4:22 pm Subject:

truwoman31

Hi, welcome to the forums! When you signed up on this site, you should have entered contact information. Shortly after joining, a debt counselor is suppose to contact you. Has anyone notified you about their program and services.

In any event, even after speaking with one of the counseling programs that we offer to you, if they are not able to help you, then we can forward on an agency that has been known to resolved payday loans, and other hard companies to deal with.

Please let us know if you need more information or help.

Regards-
Mike

Posted: Sat Apr 22, 2006 10:30 pm Subject:

I am waiting to hear from the company this site matched me with but have heard so many good things about T&C. Does anyone know what states the deal with?

Also, how can you find out if a loan company isn't licensed in your state? I've seen that mentioned alot as well.

Posted: Sun Apr 23, 2006 1:32 am Subject:

truwoman, which state do you live in, if you don't mind me asking? I'll see if I can find the licensing information for your state.

Posted: Sun Apr 23, 2006 7:48 am Subject:

I too would like to find out if a loan company is licensed in my state. I live in Virginia. I have 4 PDLs and can't afford them. I need to do something before my next payday on the 28th and they take $300 more. I contacted T&C but they are closed on weekends so I left my name and number. Are there any other companies that do consolidation with payday loans?

Posted: Sun Apr 23, 2006 9:23 am Subject:

I live in Indiana

Posted: Sun Apr 23, 2006 10:17 am Subject:

ccgirl, some members are using the debt consolidation program offered through this website, and I think I read that they work with pdl companies. I've also seen mention of Hess & Kennedy. It doesn't hurt to research the companies to find out which program would work best for you. And if you borrowed from internet lenders, I can tell you that it's unlikely any are registered with the state of VA. I'm also a VA resident, and I couldn't find any internet lenders that are licensed here. Here is the link for the licensing database for VA, so you can look them up:

http://www.scc.virginia.gov/division/banking/paydaylend.htm

If you haven't already, and I know this is a pain, I would highly recommend either getting a new acct at a new bank, or at least having your current bank freeze the acct and transfer your acct. Some people have had trouble getting the internet PDL to stop debiting accts, even after the companies start accept payments from a debt management company.

Odds are that you have repaid them more than is allowed by VA law, which is 15% per $100. And I've noticed that the companies seem more willing to negotiate when they find they don't have easy access to your bank acct any longer.

Posted: Sun Apr 23, 2006 10:32 am Subject:

truwoman

According to Indiana law, payday lenders must be licensed. I found this from a website that offers free legal services to IN residents (Legal Aid), it's a summary of IN law

http://www.indianajustice.org/Data/DocumentLibrary/Documents/109614851 5.21/view_article_publicweb?topic_id=1060700

And this is direct link to IN law:

http://www.in.gov/legislative/ic/code/title24/ar4.5/ch7.html

Loans are allowed to range from $50 to $500, with 15% interest allowed on the first $250 of the loan. $251-$400 is 13% interest, and $401 to $500 is limited to 10%. Minimum loan term of 14 days.

Posted: Sun Apr 23, 2006 12:58 pm Subject:

Thanks setsail. I'm finding that the companies are licensed in their own state. So even if that's the case, they still have to be licensed in Indiana as well, correct?

Posted: Sun Apr 23, 2006 3:20 pm Subject:

Thanks set4sail. I checked the list and of course all 4 PDLs I have are not listed. So what should I do now. If I close my account then my VA Disability and my payroll check will be in limbo. If I let the money go in there then the PDLs will take their money. I could put a stop payment on them but they said it will only last 30 days. I guess I could do the stop payment and then change my direct deposits over and close that account. Not sure what I need to do. I am so glad I found this forum though.

Posted: Sun Apr 23, 2006 3:37 pm Subject:

ccgirl, definitely go with putting a stop payment on them. I beg to differ that it only lasts 30 days, but whatever. Most banks I've talked to state 180 days, and I didn't find a specific timeframe listed in federal guidelines.

It's too late this month to transfer disability and such payments for the first of May, but I would definitely open a different acct. Another strategy would be to tell the bank that you would like to open another acct THERE, and they can transfer only the deposits and authorizations you wish to have continued, over to the new acct. Maybe they will do that for you.

What else to do? Send the companies letters stating you've paid $xx, on loans of $yy, and overpaid $zz according to VA law. State that you wish to have the loans considered paid in full. It doesn't hurt to start with that.

Dana

Posted: Mon Apr 24, 2006 10:47 am Subject:

Can someone send me the contact information for this company?

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