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Shantel · Posted: Thu Sep 27, 2007 10:08 pm Subject: Serious Debt

I am in need of serious help.My sister is on disability and I am over her money.She is not supposed to write a check and places are not supposed to take checks from her without my signature.On the checks it has my name first(jane doe for lucy doe).But the payday people have been taking them.I found out she has four store fronts and one internet payday loan from Think Cash.She is now up to her ears in debt.I thought I was doing good.I was paying her bills and to the best of my ability looking after her money.But now she is so much in debt that I don't know what to do or if there is anything that I can do.We live in Mississippi and i am just not sure what or if there is any action I can take.I thought about calling these places and setting up a payment plan even though they were not supposed to take a check from her i don't want to just blame them.The bank won't even let or take check from her without my consent.Any advice you can give me would be greatly appreciated.

Posted: Thu Sep 27, 2007 10:18 pm Subject:

The people on here are great they will find a way to help you.. One of the things that is needed is for you to list out who the loans are with, how much they are for and how much has been paid on them and which are store front and which are internet and someone will be along who can help you more.

Posted: Thu Sep 27, 2007 10:23 pm Subject:

Here is what I found for Mississippi PDL Laws, someone with more knowledge than me should be along shortly to help you.

Posted: Thu Sep 27, 2007 10:33 pm Subject: reply

Good job, blue! Shantel, the internet loan your sister took out with Think Cash, I do believe is actually an installment loan. The store front loans, I'm wondering if you could call the bank and ask them about her writing checks without your consent. See what they have to say. Then, with information from the bank, contact the store fronts and explain the situation. Find out first from the bank what your options are. This is kind of sticky. She's writing checks, but you're supposed to authorize them. Can you call the bank and see what they have to say? I do know that you will need to call the store fronts and see if you can work something out with them. As far as Think Cash goes, it's more of an installment loan than a pdl.

Posted: Thu Sep 27, 2007 10:43 pm Subject:

Cannr depending on what storefronts they are they might fight with her about working with her even though they shouldnt have taken the checks in the first place. I dont really know anything about Think Cash to know if they would work with her or not.

Posted: Thu Sep 27, 2007 10:45 pm Subject: reply

I agree about the store fronts. They will argue. That's why I suggested maybe she call the bank and see what they say. I really don't know if it would help or not, but it's certainly worth a phone call. She might get good information to have on hand when she contacts the store fronts. I'm hoping so anyway.

Posted: Thu Sep 27, 2007 10:46 pm Subject:

Me too, due to the unusuallness of the situation they might shock us all and be willing to work with her on getting them taken care of.

Posted: Fri Sep 28, 2007 5:10 am Subject:

I wonder if there are any legal implications on the side of the PDL for taking the checks from the sister without Shantels signature. They should not have taken them, maybe that will force their hand and make them work out payments with Shantel.

Posted: Fri Sep 28, 2007 5:59 am Subject:

HI there...

What indicator on the face of the check REQUIRES both signatures? I says your name for her but what is the requirement? Do you have legal power of attorney or is it more or less an informal arrangement?

I just wanted to help clarify that because when you say that you are over her money, what exactly does that mean and how would the check acceptor know that? THe did payday people cash them? If not, they were never "presented" for payment.

Posted: Fri Sep 28, 2007 6:49 am Subject:

Cann, I thought Thinkcash was a payday loan??? I just went to the website and it certainly appears to be.

Posted: Fri Sep 28, 2007 10:45 am Subject: reply

jen, I recall goudah correcting me on this one. Think Cash is considered an installment loan like Cash Call. Was news to me!

Posted: Fri Sep 28, 2007 11:26 am Subject:

Are the terms as awful as Cashcall's?

Posted: Fri Sep 28, 2007 11:32 am Subject: reply

I really don't know. Because I was under the assumption that Think Cash was a pdl. That's when goudah came on and said it is an installment loan. Then I asked "along the same lines as Cash Call?" And she said yes.

Posted: Fri Sep 28, 2007 12:09 pm Subject:

Shantel-The short answer on this is yes, you (or someone) is going to need to pay back the pdl's even though they werent supposed to take checks unless you can prove they knew they werent supposed to.

In light of that, they really should/need to make arrangements with you.

Posted: Fri Sep 28, 2007 12:38 pm Subject:

Think cash is backed by the First Bank of DE. All loans through them are backed by the bank & considered installment loans which are legal. If it were Pay Day OK they would be considered a pdl...Think Cash is not. The disclaimer at the bottom of their page states the loans are through First Bank of DE. I have an installment loan with them.

Shantel · Posted: Fri Sep 28, 2007 1:49 pm Subject: Store front

The Store front loans are
1.The Money Store-check written for $400 and get $328
2.Quik Cash-check written $368 I think and get $300
3.Money in minutes $368 and get $300 back (I think)
The last one I am not sure about.

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