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Posted: Mon Jun 02, 2008 4:58 pm Subject: The Cash Spot/American Consumer Credit

Hi All, I am new here, I have been reading all post here for the past week and decided I might get some help and answers here. I have this internet site that I borrowed money from called "The Cash Spot" when I signed the agreement it was from "American Consumer Credit, LLC" My question is, has anyone heard of this company. I borrowed $400.00 and if i payback in full, it the total payment is $500.00, if I rollover and then I only pay a fee of $100.00 and that is not going to the principle. Now here in california, there is no fee for rollovers or extention i guess it what it is. I need to know if this site is actually PDL. I also have 2 store front, which I am going to pay off and not use ever again, I also have "Thinkcash" which I know is not a PDL. And they are also hooked up with "Payday One"

Posted: Mon Jun 02, 2008 5:01 pm Subject:

Hold on someone that is familiar with california laws will be along shortly to advise you.

To me it sounds like a pdl to me if you are offered a rollover. Have you paid anything on this at this time? Did you receive this via the internet?

Thanks Ladybug for the quick reply, I recieved it over the internet, I will pay $100.00 4 times and the 5th time, they will add and addional 10percent, which will go towards the principal. I have already paid them 300.00 in extention fees, and If they are a pdl, then when they take the next $100.00 off I am going to close my bank account and open another one, and like I said I plan on paying my store fronts, which I forgot i have 3 out not 2.

Posted: Mon Jun 02, 2008 5:11 pm Subject:

Well someone from california or who is familiar with california laws will be along to further advise you.

If you close your bank account you need to read the thread in regards to closing your checking account that is posted on here that will give you an idea of what transpires.

Posted: Mon Jun 02, 2008 5:25 pm Subject:

In response to why your post was moved was probably because in order for you to receive the correct information from other members.

Posted: Mon Jun 02, 2008 5:28 pm Subject:

Thanks Ladybug.

Angelswings72

I have 5 payday loans out evryttime the take the money out of my account I end up with an over draft. How do I stop these payments and just mail them their payments directly