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Posted: Mon Mar 24, 2008 1:06 pm Subject:

Great job Sue, you were right on that......you are right about Think Cash. I just saw a post on another thread by Goudah...Think Cash is actually an installment loan that is backed by a FDIC bank so they are operating legally.

Posted: Mon Mar 24, 2008 1:10 pm Subject:

Good job Sue. You sure did alot of research on that one. Goudah pointed out to me about Think Cash. Its good to know, i think lots of folks are dealing with that one.
Again, great work Sue!!!!!

Posted: Mon Mar 24, 2008 1:30 pm Subject:

thanks!

Posted: Mon Mar 24, 2008 1:55 pm Subject:

Actually, most payday loan companies are CSO's in Texas.

Payday One, Cash Net USA are CSO's. They are 100% legal.

Think Cash and Purpose Loans are actually installment loans backed by an FDIC insured bank. Also 100% legal.

CSO's do not need to be licensed, only registered with the Sec of State. They also do not have to follow the pdl laws, as federal law says any fees charged cannot be considered interest. So they charge very low interest and a huge fee.

Posted: Mon Mar 24, 2008 1:58 pm Subject:

Thanks Goudah!

Posted: Mon Mar 24, 2008 2:00 pm Subject:

There is an American Consumer Credit registered as a CSO . . . That may be the ACC . . . I'll keep looking.

Posted: Mon Mar 24, 2008 2:07 pm Subject:

Anytime! Texas is tricky with all this CSO crap . . . .

kymmieco · Posted: Mon Apr 14, 2008 2:17 pm Subject: 8 payday loan trap

I have 8 payday loans with different lenders, I have been making payments from december to march 28, 2008. My dilemma is I cannot afford to pay these high fees any longer. What can I do, I'm willing to make payment arrangements with each company should I start making phone calls? Companies are discount advances, 3b payday, impact cash, fast & reliable,cashnet usa, net cash usa,500fast cash, quick cash, I can't remember the last ones name.

Thanks

Posted: Mon Apr 14, 2008 4:18 pm Subject:

hi kymmieco - what state do you live in, how much did you borrow from each one, and how much have you paid back to each one...and are they internet or storefront based lenders? (Sounds like all internet lenders to me, but just checking!)

Posted: Mon Apr 14, 2008 4:20 pm Subject:

kym, can you please tell us what state you reside in? We can check your state pdl law for you. Also, can you tell us how much you borrowed from the pdls (principle amount only) and how much you have paid back total so far to date? Then we can see where we stand and also see who is licensed/legal and who would be considered illegal.

Posted: Mon Apr 14, 2008 4:21 pm Subject:

Sorry, sue! Posting at the same time! Wink

Posted: Mon Apr 14, 2008 4:50 pm Subject:

no problem - better too much help than not enough! Smile

annette diaz · Posted: Wed Apr 23, 2008 7:36 am Subject: internet payday loans

i have three that i will not be able to pay if i close my account will anything happen please advise

Posted: Wed Apr 23, 2008 7:43 am Subject:

Please let us know what state you are in, who your lenders are, how much borrowed, how much already repaid, internet or store front.

Posted: Wed Apr 30, 2008 4:47 pm Subject: payday loans

Hi, i have 3 store fron loans with checksmart for $600 plus the fee of 87.50, express payroll advance for $550 plus the fee of 81.50, and always payday for $500 plus the fee of $75. all three are in default/have been returned by my bank. my bank account is now 0ver $1000 negative and i cannot close my accnt until the balance has been paid. I uused to never hav problems paying these loans on time, but i am a server and ever since the beginning of the year, the economy has wwent down, and with the high prices of gas and everything else going up, business has went down, and as a result so has my money! because of that i have also taken out loans (previous to my bank account mishap)online with impact cash, cashbanc, mte financial, usa payday loans, 247 advance, geneva roth ventures and fast bucks.com. all of the online loans total about 2100 total plus the fees. I do not know what to do. I just want to be able to get them all paid off and never have to use a payday loan again. it is causing me to not have any xtra money for any of my bills, and i am totally broke! Oh yeah, i live in ohio. what can i do?

tffd2004 · Posted: Thu Oct 02, 2008 11:03 am Subject: payday loans

i have 2 payday loans out one for 500.00 and one for 470.00. i have 2 on the internet which it was my plan to pay off the ones in the town i live in and that just didn't work out. i am behind on all my bills house payment everything. i am the only one working my husband gets paid once a month, i am just so far behind i don't even think i will be able to pay them off. i have no idea what i should do

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