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Posted: Sun Aug 10, 2008 8:00 pm Subject: Assistance needed with 3 pdl in Texas |
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First of all let me say that I am so glad I came upon this site. I have learned a lot and I'm feeling more confident that I will be able to get out of this payday loan trap I'm in. I have 3 internet loans. They are:
CashnetUsa: Principal $650; Interest $118; paid so far in extension fees $266
Cashadvancenetwork: Principal $300; refinance amount $90, paid so far in refinance fees $180
BahamaMarketingGroup (BMG) Principal $200; fee $60, paid so far in fees $180.
I can no longer afford to have over $500 in fees debited from my account each month. I have all intention to payback my loans, but need to do it in reseaonable terms. Any advice is appreciated. Thank you.
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Guest

Debtcc Points: 100
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Posted: Mon Aug 11, 2008 1:07 am Subject: |
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You can do the following: -
Close you checking account (IMPORTANT - Read before closing your bank account due to pdl)
Opt for debt settlement for the internet pdls.
PDL laws of Texas: -
| 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 |
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phoenix

Joined: 14 May 2008
Posts: 951
Debtcc Points: 6145
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Shazzers
Moderator


Joined: 05 Dec 2007
Posts: 4635
Debtcc Points: 28982
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