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 Posted: Tue Feb 26, 2008 11:08 am Subject: Need help please
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Hi all. I really need some help here. I need alot of advice..I'm so ashamed of what I've done, but I can't continue on like this. I have to take control. I have dug a very large hole for myself. I'm in Las Vegas, NV and I don't understand the laws for PDL's. I currently have 11 PDL's.
Check City online $800.00 pd 622.00
Cashbox store front 600.00 pd 100.00
Moneytree store front 500.00 pd 252.00
A Advance store front 300.00 pd 120.00
Cashnetusa online 500.00 pd 237.50
Cash Central online 300.00 pd 150.00
CMG online 300.00 pd 180.00
B&L Marketing online 300.00 pd 0
M1Y Direct online 300.00 pd 0
SDS online 300.00 pd 0
Husk Hawk Marketing online 300.00 pd 0
I have defaulted with Check City and am making payments and I just defaulted on Cash Central yesterday..everything else is current. However everything is coming due again and I really need to pay my other bills. I'm so thankful I found your site and that you guys go out of your way to help others. Thank you in advance for any advice you can give me. Thank you Deb
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Posted: Tue Feb 26, 2008 6:22 pm Subject:
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Deb, Welcome to the site. Everyone here will try to help you get through this. I am going to post Nevada Law so you and the everyone else can see it.
| Quote: | Nevada State Information
Legal Status: Legal
Citation:
Nev. Rev. Stat. 604A.010 et seq.
Loan Terms:
Maximum Loan Amount: 25% of expected gross monthly income
Loan Term: Max: 60 days
Maximum Finance Rate and Fees: Not Specified (After default: interest rate must be equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %)
Finance Charge for 14-day $100 loan: No Limit
APR for 14-day $100 loan: No Limit
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified
Rollovers Permitted: Not Specified (Lenders cannot extend payment period beyond 60 days after expiration of initial loan period)
Cooling-off Period:
Repayment Plan: Yes
Collection Limits:
Collection Fees: $25 dishonored check fee (max. two fees for insufficient funds; max. one fee for closed account) Court Costs; Reasonable Attorney's Fees; Service of process costs
Criminal Action: Prohibited (Unless customer acted with criminal intent)
Where to Complain, Get Information:
Regulator: Nevada Financial Institutions Division
Address: 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121
Phone: (702) 486-4120
Fax: (702) 486-4563
Regulatory Contact: , Supervisory Examiner
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RoxyNY
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Posted: Wed Feb 27, 2008 6:36 am Subject:
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Thank you Roxy...what do I do now?? I feel so alone please guide me. Thank you s much Deb
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Posted: Wed Feb 27, 2008 8:41 am Subject:
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Don't feel alone and ashamed all of us have been there. You have come to the right place for help, lots of people on here including myself have all been in your shoes. We will guide you through so cheer up.
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ladybug
Joined: 29 May 2007
Posts: 2642
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Posted: Wed Feb 27, 2008 10:59 am Subject: Loan Consolidation
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Hi
Lost in LV, NV. I too am from lv and have dug this exact hole you are in. I just recently contacted Town & Country and they are consolidating my pay day loans as we speak. So, when the pdl companies call, I tell them to call my counselor and that is it. I am now just paying one payment to Town & County plus that includes my car payment, and any other bills besides my rent. You should contact them their # is 800-788-1141. I have had to take on another job, so I don't end up in this situation again. Something to think about
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Jeannet
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Posted: Wed Feb 27, 2008 11:08 am Subject:
Latest Blog Post : http://Zan.yesdebtfree.org |
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Thank you so much I appreciate the input I will contact them right now. I'll let ya know. Debbie
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queensoverjacks
Joined: 21 Feb 2008
Posts: 13
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Posted: Wed Feb 27, 2008 11:09 am Subject:
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| Quote: | | includes my car payment |
Jeannet...That is good info. I didnt think consolidation places dealt with secured debt.
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volleyballmom
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Posted: Wed Feb 27, 2008 11:24 am Subject: Pay Day Loan Help
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Just one more thing for you to know that I found out through investigation, if you have internet loans just about anyone can help you consolidate as well as cc debt. It was very frustrating for me. You can use just about anyone to help you. It's storefronts that these companies don't want to take on. Just FYI
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jeannethib
Joined: 22 Feb 2008
Posts: 9
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Posted: Wed Feb 27, 2008 11:29 am Subject:
Latest Blog Post : http://Zan.yesdebtfree.org |
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OK...I just called them and she said based on the info I gave them they would accept me and they are faxing over the paperwork. I'll fill it out and send it back and see what they say.
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queensoverjacks
Joined: 21 Feb 2008
Posts: 13
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Posted: Wed Feb 27, 2008 1:02 pm Subject:
Latest Blog Post : http://Zan.yesdebtfree.org |
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OK so what now do I close my bank account? I don't quite understand Nevada law. Any advice. Thanks Debbie
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queensoverjacks
Joined: 21 Feb 2008
Posts: 13
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Posted: Wed Feb 27, 2008 7:01 pm Subject:
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I believe you can close your account. According to your state law, criminal action is prohibited unless acted with criminal intent - which you did not. I'm going to post something regarding closing your bank account.
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cannr
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Posted: Wed Feb 27, 2008 7:02 pm Subject:
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| Quote: | Before you close your bank account due to payday loans eating away at your paycheck, please read this.
Some banks have a policy regarding ach transactions that allows them to force open closed accounts if any ach transactions go through within a certain time frame after the account is closed. This can leave you owing a legal bank $1,000's and reported to chexsystems, instead of owing barely legal (or not at all legal) payday loan companies. Not a good thing. Ask your bank what their policy is on ach transactions on closed accounts before you close the account. It's best to go in person and talk to a branch manager.
If your bank does have this policy, tell them your situation. Don't be embarrassed. Take letters with you showing that you have revoked authorization for each of your payday loan companies to debit your account. Tell the bank to put your account on deposit only, an ach block, or a hard hold before they close the account. Your bank can do one of those, don't take no for an answer. This will prevent any payday loan ach's from reopening the bank account.
It'a always best to close your bank account. Leaving it open gives ways for the payday loan companies to continue to take money out. These companies have many different dba's, so blocking them won't work. They will also produce paper checks and run them through your account. Closing the account is the best way to prevent these companies from taking money out of your account.
Some state laws do allow for prosecution if you close your bank account, but that is usually in cases of fraud. But it's always best to check with your state's attorney general or department of financial institution before you close your account. You want to make sure you are not causing more heacaches!
Last edited by goudah2424 on 17 Jul 2007 15:25 |
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cannr
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Posted: Thu Feb 28, 2008 7:19 am Subject:
Latest Blog Post : http://Zan.yesdebtfree.org |
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Does anyone know if all of my PDL's are legal in Nevada. Thanks so much...sorry I'm getting nervous they are all due on March 5th. Thanks again
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queensoverjacks
Joined: 21 Feb 2008
Posts: 13
Debtcc Points: 286
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Posted: Thu Feb 28, 2008 8:05 am Subject:
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queens, are you "guest" who posted the information at the beginning of this thread?
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cannr
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Posted: Thu Feb 28, 2008 8:17 am Subject:
Latest Blog Post : http://Zan.yesdebtfree.org |
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I'm soory Cannr it was me that posted the thread 
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queensoverjacks
Joined: 21 Feb 2008
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