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 Posted: Fri Nov 14, 2008 12:13 pm Subject: texas payday loan help |
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I have 4 internet payday loans in Texas:
CashNetUSA - 950.00 - 2 $243.36 rollover pmts.
United Cash Loans - 300.00 - 2 $90.00 rollover pmts.
Paradise cash advance - 300.00 - no payment
Zip19 - 300.00 - no payment.
I need advice on how to pay these off - I can't pay them all at once.
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susanb
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| Posted: Fri Nov 14, 2008 12:27 pm Subject: |
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I'm sure you've seen that Texas laws are different when it comes to pdls, but since all of yours are through the internet, you probably don't have to worry about the CSO part of it.
I looked for lending licenses in Texas for all 4 companies and none of them appear to be legal. (I'm sure a moderator will come around and help, but in the meantime, I'll tell you what I did.)
I called my bank and asked that they put an ACH block (both in & out of my account). Then, I closed my bank account. Next, I sent the "you are illegal" letters via e-mail to the internet payday loan companies.
Please read the sticky regarding "before you close your bank account" and if you would like a copy of the letter I sent, please let me know and I'll send it to you via PM.
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rread17
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| Posted: Fri Nov 14, 2008 12:35 pm Subject: reply |
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i do know that CASHNET USA is legal and therefore you should work something out with them.UNITED CASH LOANS is part of MTE and won't be licensed or registered period.i don't know if the last two are registered as CSO'S.you only owe UCL the principle borrowed nothing more.anything taken out so far goes toward the loan.
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paulmergel
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| Posted: Fri Nov 14, 2008 1:13 pm Subject: |
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Zip19 isn't legal
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dawnlango7
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| Posted: Fri Nov 14, 2008 1:14 pm Subject: |
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Paradise is out of the West Indies so they aren't legal either 
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HAPPY NEW YEAR!!!
To a crisis of the spirit, we need an answer of the spirit.
To find that answer, we need only look within ourselves.
When we listen to "the better angels of our nature," we find that they celebrate the simple things, the basic things--such as goodness, decency, love, kindness.
Greatness comes in simple trappings.
-Richard Milhous Nixon,
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dawnlango7
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| Posted: Mon Nov 17, 2008 12:08 pm Subject: texas payday loan help |
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According to Texas law, rollovers are not permitted - if I understand this correctly, the money I have paid for a rollover should be applied to the amount of the loan - right?
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susanb
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| Posted: Mon Nov 17, 2008 12:21 pm Subject: |
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Correct, for the companies other than CashNet, all the fee's you have paid go towards the amount you borrowed.
_________________
HAPPY NEW YEAR!!!
To a crisis of the spirit, we need an answer of the spirit.
To find that answer, we need only look within ourselves.
When we listen to "the better angels of our nature," we find that they celebrate the simple things, the basic things--such as goodness, decency, love, kindness.
Greatness comes in simple trappings.
-Richard Milhous Nixon,
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dawnlango7
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| Posted: Mon Nov 17, 2008 1:29 pm Subject: texas payday loan help |
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I'm a little confused - even though CashNet is legal in Texas, can they charge the rollover fee - even if rollover fees are not legal in Texas?
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susanb
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| Posted: Mon Nov 17, 2008 1:34 pm Subject: reply |
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if they are registered as a CSO(credit service origanization)the
pdl laws don't apply to them.
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paulmergel
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| Posted: Mon Nov 17, 2008 1:54 pm Subject: texas payday loan help |
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Sorry - another question. I have my letter for the illegal companies ready - how do I find an address to send it to?
Thanks for all your help!
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susanb
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| Posted: Mon Nov 17, 2008 2:01 pm Subject: |
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If you type their name in the search box you should be able to find the addresses or contact info
_________________
HAPPY NEW YEAR!!!
To a crisis of the spirit, we need an answer of the spirit.
To find that answer, we need only look within ourselves.
When we listen to "the better angels of our nature," we find that they celebrate the simple things, the basic things--such as goodness, decency, love, kindness.
Greatness comes in simple trappings.
-Richard Milhous Nixon,
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dawnlango7
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| Posted: Tue Nov 18, 2008 3:27 pm Subject: texas payday loan help |
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Hi, back again. I just received an email from Paradise Cash advance stating that they do not accept payments through the mail, just ACH payments. Can they do this legally?
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susanb
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| Posted: Tue Nov 18, 2008 3:32 pm Subject: reply |
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nope they can't.if they don't want to accept payments via the mail then they are SOL.that doesn't mean statute of limitations by the way.
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paulmergel
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