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Drowning in TN

Date: Mon, 01/22/2007 - 08:35

Submitted by redbeauty73
on Mon, 01/22/2007 - 08:35

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Total Replies: 3


Can anyone give me any guidance. Does anyone know TN law when it comes to internet payday loans? I have a loan with Treemont Financial for $400. I have paid them $140 x3, and my balance owed is 291.00. I am going to be paying them forever....I am drowning and frustrated. I am trying desperately to clean up my credit and want to do right by everyone, but I have 3 payday loans and can't seem to ever get them paid off. I don't have the lump sums to pay them off and if I keep going the route they obviously want, I will have paid these back by 3times or more loaned. What do I do. If I don't pay, they say they have a form that my electronic signature gave authorizing them to have my employer automatically withhold it from my check.[/quote]


Here you go.

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Which ones do you still owe? From reading your post, they look like they are internet based. Have you checked to see if they are licensed? How much have you paid each one? They will try to get a wage assignment against your check, but most employers will not honor it. You need to send them a wage revocation letter and give a copy to your payroll if these companies choose to try this step. Do you have any store fronts?


lrhall41

Submitted by Not so Lucky on Mon, 01/22/2007 - 11:20

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Thanks for the information. I do not have any storefront loans. They are all internet. They are with USFastCash, Treemont Financial, and Geneva Roth Financial. I have looked in the listings in TN to see if they are licensed and I did not see a listing for them. I can find contact information for USFastCash and Treemont, but have been unsuccessful in locating anything for Geneva Roth Financial. USFastCash is $300, they just keep taking the fee of 90 and automatically renewing. Treemont is 400, and I have been paying 140 each time and they have my actual loan balance as 291.00 and Geneva Roth is 300 and they just keep taking 90 as well, and all these fees are every two weeks. I feel I have more than paid these back. What do I do? Do you have a generic Wage Assignment Revocation letter that I could go by. Betweem the IPDL's and them giving my info out to SecretCashCard and Gold Express, my account is getting hit right and left!


lrhall41

Submitted by redbeauty73 on Tue, 01/23/2007 - 05:09

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Well you need to close that account and open a new one. This will stop them from taking anymore money out. You need to send a cease and desist letter letting them know you feel you have paid you loan in full. Check to see if they are even licensed to loan in TN. Some companies say they are but really aren't. Plus contact you AG office and file a complaint. This will help in shutting down these illegal companies.


lrhall41

Submitted by rmjacobs on Tue, 01/23/2007 - 05:39

( Posts: 59 | Credits: )