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 Posted: Tue Nov 06, 2007 7:47 pm Subject: I am trying to get out of payday loans.
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I have ten payday loans in texas and have closed my checking account and am needing help to get out from under them.
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jay79ra26
Joined: 06 Nov 2007
Posts: 1
Debtcc Points: 41
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Posted: Wed Nov 07, 2007 6:03 am Subject:
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Welcome jay, I'm pretty new here myself, but I can tell you to hang tight, the guru's will be around shortly to offer some help! Don't worry we are all in the same boat, or have been in the boat and managed to get out!
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Lren0318
Joined: 29 Oct 2007
Posts: 186
Debtcc Points: 4029
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Posted: Wed Nov 07, 2007 6:54 am Subject:
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Jay, Welcome. Please list the companies you borrowed from, how much you have borrowed from each company and the total of how much you have paid each company. Also please note if the company is storefront or internet.
_________________
In life it doesn't matter
how hard you hit, it matters
how hard you get hit
and keep moving forward.
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RoxyNY
Moderator
Joined: 03 Aug 2007
Posts: 4112
Debtcc Points: 11516
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Posted: Wed Nov 07, 2007 10:57 am Subject:
Latest Blog Post : http://Punkteri.yesdebtfree.org |
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Here are the Texas laws...
| Quote: | Legal Status: Legal
Citation:
7 Tex. Admin. Code § 1.605; Tex. Fin. Code Ann. §§ 342.251 et seq. and 342.601 et seq.
Loan Terms:
Maximum Loan Amount:
Loan Term: 7-31 days
Maximum Finance Rate and Fees: $10 per loan + 48% annual interest
Finance Charge for 14-day $100 loan: $12
apr for 14-day $100 loan: 309%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (if renewal charge is less than maximum interest rate permitted; otherwise convert to declining balance installment note)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Texas Office of Consumer Credit Commissioner
Address: 2601 N. Lamar Blvd. Austin TX 78705
Phone: (512) 936-7600
Fax: (512) 936-7610
Regulatory Contact: ,
Regulator Website
http://www.occc.state.tx.us/ |
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Punkteri
Joined: 17 Aug 2007
Posts: 202
Debtcc Points: 3094
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