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 Posted: Wed Nov 21, 2007 5:58 pm Subject: Payday loans in WA
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I'm in Washington state. I have 5 loans:
Advance til Payday - I have a $375 balance, I have paid $50
Advance America - $550 balance, I will make a payment of $82 on next friday
The Cash Store - $600 The acct is in collections. I just called the collections agency and they said they sent me a letter on oct 24th (which I never received) and I had one chance to respond to the letter and the call (?) and now they are sending it to an attorney/court. They said they verified employment with HR at my company today.(nobody at my work told me this, though I'm not sure if they're supposed to) They said there is nothing they can do and I'm "going to be paying a truckload of money."
Check n' Go - approx $450 balance, haven't paid anything yet
First Bank of Delaware - balance is $236, paid nothing
They are all storefront except First Bank of Delaware, which is an online installment loan through Check n go.
Should I consult with a lawyer?
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chrystalb
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Posted: Wed Nov 21, 2007 6:15 pm Subject:
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Crystal, welcome to the fourm....Other then Cash Store are you current on the others? I am also going to get some more help...
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RoxyNY
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Posted: Wed Nov 21, 2007 6:19 pm Subject: re:
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No I'm not current...except maybe the Advance til payday. I will be making another $50 payment on friday.
Just called Check n go and she said I can make 2 payment of $230 each and have it done, but it must be soon or it will get sent to the legal department at the corporate office. I asked her if they will call or mail me and she said she has no idea. Great. She also said I can pay the full $460 and re-loan to keep it out of corporate.
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chrystalb
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Posted: Wed Nov 21, 2007 6:20 pm Subject:
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I forgot to say the accounts are 2 months overdue. I just got sick of it all and decided to just stop and I've been trying to figure out what to do.
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chrystalb
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Posted: Wed Nov 21, 2007 6:22 pm Subject:
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Have you worked out payment arrangements with them? Or have not paid them at all? And have any of them contacted you about payment?
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RoxyNY
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Posted: Wed Nov 21, 2007 6:25 pm Subject:
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Here are the pdl laws for your state so we can all look at them:
| Quote: | Washington State Information
Legal Status: Legal (Lender must have a small loan endorsement to their check casher license in order to make payday loans)
Citation:
Wash. Rev. Code ยง 31.45.010 et seq.
Loan Terms:
Maximum Loan Amount: $700
Loan Term: Max: 45 days
Maximum Finance Rate and Fees: 15%: first $500; 10%: remaining portion of the loan in excess of $500 up to the $700 maximum
Finance Charge for 14-day $100 loan: $15
APR for 14-day $100 loan: 390%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: A company cannot hold a check or checks in an aggregate face amount of more than $700 plus allowable fees from any one borrower at any one time.
Rollovers Permitted: None (cannot repay loan with proceeds of another)
Cooling-off Period:
Repayment Plan: A company and a borrower may voluntarily enter a payment plan at any time. A borrower, however, has a right to convert a small loan to a statutory payment plan after four successive loans and prior to default on the last loan.
Collection Limits:
Collection Fees: $25 NSF fee (one time per instrument); collection costs (excluding attorney's fees, interest and damages)
Criminal Action: Prohibited
Where to Complain, Get Information:
Regulator: Washington Department of Financial Institutions
Address: Division of Consumer Services, PO Box 41200 Olympia WA 98504
Phone: (360) 902-8700
Fax: (360) 725-7827
Regulatory Contact: Chuck Cross,, Director of Consumer Services
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RoxyNY
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Posted: Wed Nov 21, 2007 6:25 pm Subject:
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I've worked out payment arrangements with Advane til payday, I will be making my 2nd payment of $50 on friday.
I will be making a payment of $81.36 to Advance America to start a payment plan on the 30th.
I'm not sure about the legality of the internet loan.
You can read about the Cash Store and Check n go in previous posts. 
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chrystalb
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Posted: Wed Nov 21, 2007 6:26 pm Subject: r
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chrystalb, these are 2 months in default? All of them? I see that you've been paying small amounts to them. Does this mean that they have you set up on a payment plan?
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cannr
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Posted: Wed Nov 21, 2007 6:29 pm Subject:
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"Criminal Action: Prohibited"
This means they can't have me arrested and sent to jail right?
The collection agency for the cash store (who was of course rude) said they are sending it to an attorney to sue. This would be considered "civil action" right? But I never received the letter they supposedly sent me.
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chrystalb
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Posted: Wed Nov 21, 2007 6:31 pm Subject: r
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chrystalb, three of your storefronts are members of the CFSA, which you would have been able to invoke the EPP with them (extended payment plan). However, since they are already in default, we can't do that now. Your internet loan will be licensed/legal. You have another thread going regarding the cash store?
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cannr
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Posted: Wed Nov 21, 2007 6:32 pm Subject: r
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It would not be "criminal". It would be "civil". They won't put you in jail.
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cannr
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Posted: Wed Nov 21, 2007 6:33 pm Subject:
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cannr, yes all of them. I am making small payments on 2 (advance til payday and advance america) who were able to set up a payment plan.
check n go will take two payments of $230 but i cannot afford that right away as I have an $800 bill (for something else) that I am trying to pay off. They said I can pay the $460 and re-loan to keep it from going to their legal department.
You can read about the cash store in my previous posts.
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chrystalb
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Posted: Wed Nov 21, 2007 6:34 pm Subject:
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Cannr, she posted about that one in her first post on this thread..they are threatening legal action.
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RoxyNY
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Posted: Wed Nov 21, 2007 6:36 pm Subject: r
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The Check n Go that wants two payments of $230 or they will send you to corporate. This is a local store front, correct?
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cannr
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Posted: Wed Nov 21, 2007 6:38 pm Subject:
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The online through First bank of DE is an installment loan, not a pdl. Chrystal, you will have to pay it or work out payment arrangements becuase defaulting will go on your credit.
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In life it doesn't matter
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and keep moving forward.
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RoxyNY
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