Internet's first get-out-of-debt community - 140,000 members

Posted: Wed Sep 03, 2008 8:23 am Subject: Need some Advice

I was starting my own business and needed some help and gues what now I am stuck
I have 4 loans
one from sonic cash that actually bounced and currently on a payment plan for 50 a month with 300 remaining

the others are active
cashnet usa for 350.00
ameriloan for 260.00
united cash loans for 455.00

i have noticed that several people discuss wether these might be legal or not. can some one tell me if these companies are licensed to loan to missouri? or maybe give me some advice to help get these paid off in a resonable manner?
My wife also has one from a store front location, and i am wondering what will happen if i let the check bounce. Will they then allow me to setup a payment plan with them? thanks in advance

Posted: Wed Sep 03, 2008 8:31 am Subject:

Cash Net USA is legal and licensed in Missouri.

ameriloan and United Cash Loans are not licensed in Missouri.

Posted: Wed Sep 03, 2008 8:33 am Subject:

If you stop payment or close the bank account for the storefront, your wife could face criminal bad check charges.

So you will have to make sure the check will bounce. Then the storefront should let you make payments. But be aware, most storefronts won't work with you on payments until the check has bounced.

The storefront may be a CFSA member, in which case they may offer an EPP (Extended Payment Plan). This must be asked for by name at least 1 business day before your loan due date.

CN · Posted: Wed Sep 03, 2008 11:52 am Subject: what should i do

if they are not licensed what action should i take, I have been paying on them forever to get nowhere

Posted: Wed Sep 03, 2008 12:36 pm Subject:

If they are not licensed or legal all you are obligated to pay back is the principal amount you borrowed, if you have been paying on them for an extended amount of time, the chances are you have over paid them. You should file complaints against them with the FTC, BBB and your Attorney General's office, you can easily do this online. You will need to send them a letter or email revoking all ACH authorization and wage assignments, but make sure your bank account is secure before doing so, as they will change their names and continue to debit your account. Confused

Guest · Posted: Wed Sep 03, 2008 3:32 pm Subject:

good advice Goudah!

sylvia m · Posted: Thu Sep 04, 2008 7:05 pm Subject:

0i have 6 loans and i don't know what to do Crying or Very sad

Posted: Fri Sep 05, 2008 6:22 am Subject:

Sylvia, if you would post who the loans are with, whether they are storefront or internet, how much you borrowed from each, the total of what you paid to each and what state you are in, we can work on helping you. If you decide to do this, please start your own thread. It will keep all your information in one place as well as helping you to know where your information is, whether someone has posted to you and helps us know if you have posted something for us. IF you need help with this, let us know.

*Name:
*Email:
*Phone:
*Zip:
*Debt

	* denotes required field

Internet's first get-out-of-debt community - 140,000 members

Need some Advice

Members Area

Free Debt Counseling

Ask the community

Also See

Featured Discussions

Featured Articles

Recent Forum Discussions

Recent Blog Post