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 Posted: Mon Jan 28, 2008 3:01 pm Subject: can you get arrested for closing your bank account?
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i recently closed my bank account because my paydayloans were leaving my account overdrawn. can any one help me feel better about this decision? help!
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garza2977
Joined: 01 May 2007
Posts: 4
Debtcc Points: 101
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Posted: Mon Jan 28, 2008 3:06 pm Subject:
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what state are you in. I doubt that you will be put in jail. Most of us here have closed our accounts. We had no choice.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38903
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Posted: Mon Jan 28, 2008 3:08 pm Subject:
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I am in Texas
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garza2977
Joined: 01 May 2007
Posts: 4
Debtcc Points: 101
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Posted: Mon Jan 28, 2008 3:09 pm Subject:
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| Quote: | Texas State Information
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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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38903
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Posted: Mon Jan 28, 2008 3:10 pm Subject:
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what do i have to do next? how do i work with these online payday loans?
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garza2977
Joined: 01 May 2007
Posts: 4
Debtcc Points: 101
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Posted: Mon Jan 28, 2008 3:10 pm Subject:
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Welcome to the site, you've come to the right place.
Odds are no you cannot, we can tell you for sure if you tell us what state you are in. Are these internet or storefront loans? How many, how much were the loans and what have you paid back.
You'll probably get more replies if you repost this question in the "payday Loan" section of this site along with the answer to the questions I have posted.
*edited to add, I starting posting my reply and then got sidetracked so others have posted.
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LoneGunman
Joined: 14 Jan 2008
Posts: 226
Debtcc Points: 1629
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Posted: Mon Jan 28, 2008 3:12 pm Subject:
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many members here are from Texas , and no you will not get arrested. If you answer the questions above we can help you every step of the way. We have all been where you are now.
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kashzan
Debt Samaritan
Joined: 11 Jul 2007
Posts: 5463
Debtcc Points: 38903
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Posted: Mon Jan 28, 2008 3:25 pm Subject:
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i have 4 internet loans- payday one (owe)1131. (pd 660), payday max (owe 503.61) (pd 120), americash (owe 375.00) (pd 75) & thinkcash (owe 977.55) (pd 180.00)
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garza2977
Joined: 01 May 2007
Posts: 4
Debtcc Points: 101
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Posted: Mon Jan 28, 2008 4:04 pm Subject:
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what about in illinois. they are sending threats of having us investegated by the f.b.i
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angelmerrell
Joined: 28 Jan 2008
Posts: 2
Debtcc Points: 284
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Posted: Mon Jan 28, 2008 4:06 pm Subject:
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The FBI doesn't care about people that can't pay back a payday loan - These companies are trying to scare and intimidate you into paying money you don't legally owe.
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goudah2424
Moderator
Joined: 31 Oct 2006
Posts: 7935
Debtcc Points: 111173
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