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 Posted: Wed Jun 27, 2007 6:36 am |
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I have 10 pay day
loans in El Paso Texas.I can no longer afford to make the payments , Please help!
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eclesia3101
Joined: 17 Jun 2007
Posts: 9
Debtcc Points: 549
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| Posted: Wed Jun 27, 2007 7:12 am |
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Are they store front or internet loans? Please provide information to where they are from so we can help. Close down your bank account.
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introuble79
Joined: 04 Jun 2007
Posts: 42
Debtcc Points: 1399
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| Posted: Wed Jun 27, 2007 7:29 am |
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Welcome to the forum. Who do you have them with, how long have you been paying on them and how much are they for? We will be more than happy to steer you in the right direction.
_________________
Four things in life that you should never lose-1. Hope; 2. Peace; 3. Honesty; 4. Friends.
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irish51cc
Debt Samaritan
Joined: 27 Nov 2006
Posts: 1122
Debtcc Points: 9216
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| Posted: Wed Jun 27, 2007 7:33 am |
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| Quote: | Texas State Information
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
http://www.occc.state.tx.us/ |
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frogpatch
Moderator
Joined: 09 Apr 2007
Posts: 3768
Debtcc Points: 31152
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| Posted: Wed Jun 27, 2007 7:38 am |
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You will need to close your bank account. Before you do, though, check with your bank on their policy on allowing debits to go through on closed accounts. Some banks allow this and the pdls could get their money and then you could end up owing the bank thousands of dollars. If the bank allows this, ask them to put a hard hold on the account so nothing can be debited from it; then open an account at a NEW bank-not the same one. 
_________________
He is your friend, your partner, your defender, your dog. You are his life, his love, his leader. He will be yours, faithful and true, to the last beat of his heart.
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Sassnlucy
Moderator
Joined: 12 Mar 2007
Posts: 2620
Debtcc Points: 28250
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| Posted: Wed Jun 27, 2007 8:38 am |
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Also reqest a "live" check from your payroll dept. so they don't try to deposit to your closed accout. You can go back to direct deposit as soon as you have a new safe account.
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frogpatch
Moderator
Joined: 09 Apr 2007
Posts: 3768
Debtcc Points: 31152
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