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Posted: Fri Nov 17, 2006 4:19 pm Subject: Pdls in Texas

i live in texas and have storefront loans if i close my bank acct. what can they do to me.

Posted: Fri Nov 17, 2006 4:25 pm Subject:

You need to be careful from storefront lenders in Texas. Most are licensed in the state. Your state doesn't allow any criminal actions if the accounts are closed. But you know the debt is legit, so you have to work out arrangements in different means. Whatever you decide, keep the storefront lender noted.

Go to this link. You will find some info about the laws in Texas.

Posted: Fri Nov 17, 2006 4:35 pm Subject:

i plan on paying them i just dont want them taking it out of my bank

Posted: Fri Nov 17, 2006 4:37 pm Subject:

if a payment is due and i dont have the money but want to set up a payment plan should i talk to the person at the store or call the main office. and what if they say no that i need to pay them in right then.

Posted: Fri Nov 17, 2006 4:38 pm Subject:

Your intentions are good and if you let them know, they will co-operate. Keep them updated. I know most will accept payments through money order.

Posted: Fri Nov 17, 2006 4:40 pm Subject:

should i go to the store when the payment is due or call the main office, and should i close my bank acct before i tell them.

Posted: Fri Nov 17, 2006 4:48 pm Subject:

If you can go to the store and explain your situation, they will hear you better. They might be provoked if you do something against their interests. If they hear you, there won't be any need to close your account. Get everything in writing.

Posted: Fri Nov 17, 2006 7:48 pm Subject: PAYDAY LOANS AND TEXAS

I had a store front loan with purpose money. I stoped the loan and the check was returned . The loana was origanlly for 600 and now they claim with int and fees it is 805..i have paid 205 and now still owe 600 what iam i acutally liable for and can they take me to jail , or come and harrass me at my job theatning to take me to court or jail over this debt? They have threaten to do both

Posted: Fri Nov 17, 2006 7:58 pm Subject:

In TX if you default and then default on the payback arrangements they can press charges against you, if it was because you put a stop payment on the check or if you closed the account, because this is a licensed storefront lender. They can't come to your job to harass you though. But you can be arrested wherever the police want to pick you up.

Posted: Fri Nov 17, 2006 7:58 pm Subject:

If you didn't put a stop payment or you didn't close the account then you can't be charged with anything.

Posted: Fri Nov 17, 2006 8:36 pm Subject:

Most important thing: Keep them informed! They WILL work with you!! People have financial set backs all the time. The PDL's are used to this. They know thier clientele. But if you ignore them, they WILL take any action that is within their power to do.

Posted: Fri Nov 17, 2006 8:42 pm Subject:

So which opne is true can i be arfrested because i can not payback a payday loan in texas?? The store fromt is unwilling to make arrangements besides a lumpos sum of 605 in which i do not have it would take me four weeks to come up with that. What should i do?

Posted: Fri Nov 17, 2006 8:44 pm Subject:

Also i did not close my account or place a stop on the check it was returned by the bank nsf.

Posted: Fri Nov 17, 2006 8:50 pm Subject:

Then they shouldn't do anything other than pursue collection. The only way to pursue criminal action in TX for a defaulted pdl is if it was due to the customer closing the account or putting a stop payment on the account.

Posted: Fri Nov 17, 2006 8:50 pm Subject:

You need to be completely honest with them about what you can pay each month. Be realistic too. Don't commit to something that you cannot follow through with or it looks like you are just stalling. You might consider starting with a good faith payment of as much as you can afford. As long as you are making a true effort to settle the account, it is not likely that the company will take legal action against you. I don't think that Texas allows wage garnishment (double check that, I may be getting my states confused) so it is in the best interest of the company to work with you. It will turn out fine. You WILL get through it!

Posted: Fri Nov 17, 2006 9:06 pm Subject:

Thanks for your help. The pdl climed that they could take me to jail for a returned pdl. I wil see if the wil set up monthly pymnt but so far they only want one lump sum.

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