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 Posted: Sun Aug 10, 2008 6:56 am Subject: Several PDLs in TX -- what are my options? |
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I hope that all of you can help me. I am seriously depressed and stressed with the situation my husband & I have gotten ourselves into. I know that TX rules are different and I am overwhelmed and don't know where to begin. Please help if you can.
Here's our loans:
RapidCashForYou.com (online) --- $600 --- Paid $180
PayDay Max (online) --- $520 --- Pd $76.08
Advance America (store) --- $1000 --- Pd $0
Advance America (store) --- $1000 --- Pd $0
EZ Money (store) --- $1500 --- Pd $0
EZ Money (store) --- $1000 --- Pd $304.93
First Cash Advance (store) --- $1000 --- Pd $0
First Cash Advance (store) --- $1200 --- Pd $0
PayDay Advance (store) --- $900 --- Pd $184.71
Check N Go (store) --- $800 --- Pd $0
Cash Store (store) --- $1200 --- Pd $0
Ace Cash Express (store) --- $400 --- Pd $0
LoanStar Title Loan (store) --- $1100 --- Pd $0
Those are not duplicates. My husband & I each have a loan with a few of the same places.
I wasn't sure if you could advise me about the title loan too, but I threw it in the list.
Thanks.
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rread17
Joined: 09 Aug 2008
Posts: 14
Debtcc Points: 238
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| Posted: Mon Aug 11, 2008 1:33 am Subject: |
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Texas PDL laws are: -
| 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 |
Other members can help you more on this.
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phoenix
Joined: 14 May 2008
Posts: 928
Debtcc Points: 5999
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Shazzers
Moderator
Joined: 05 Dec 2007
Posts: 4628
Debtcc Points: 28942
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| Posted: Mon Aug 11, 2008 7:03 am Subject: |
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Thanks for your response.
Yes, I'm pretty sure that most (if not all) of the storefront companies are CSOs. But, I don't know if there's anything I can do to get out of this or where to begin.
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rread17
Joined: 09 Aug 2008
Posts: 14
Debtcc Points: 238
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