Payday loan help in Texas

Do you know about Ace cash express or another name they go by is America Cash Express. Is this a CSO or a PDL?

Also can you give me some suggestions on how I should negotiate with the CSO's does anyone have a letter or script?

Give me a minute to check them out.

Yes, ACE is a CSO too in Texas.

Texas is full of them. Just about every storefront is a CSO, and a ton of internet lenders are now going to the CSO model to avoid the laws.

The problem with "negotiating" with the CSO's is that they are 100% legal. There really isn't room to negotiate like there is with the illegal companies. You are best off just setting up some payment plans with them. Unfortunatly, because they are legal, they could take steps to collect on the debt, such as suing you, and that is something you want to avoid.

I would suggest trying to set up some sort of payment plan with them that you can afford. Don't agree to more then you can afford. Don't be afraid to tell them your situation, and that you can only afford to pay $20 a month. The good thing is that once you default, the fees stop. So you will be able to pay down the balance. The bad thing is that these companies can get pretty nasty, and don't always want to cooperate.

Thanks so much for the help. I will start on that today. Hopefully my experience won't be to bad.

I hope not. Just be honest with them, communicate that you are willing to pay your debts, but you can't continue as things are. Tell them that you are trying to avoid having to file bankruptcy, and that this is the only way you can do that.

If I did file bankruptcy could these be put into that as well?? I have thought about doing that but would like to avoid it.

As long as the debts are older then 90 days, yes. But it should only be used as a last resort, and think very hard about doing it. If your debt is just this stuff, I would say don't do it. If there is a lot more debt, then maybe it's a option, but consider all the possibilities before you go that route.

Have you offered them $20 a month on yours? I have 7 that are CSO's and That would be about what I can do are they very receptive to that kind of offer?

My situation was pretty different from yours. My mess was actually a few years back, so they are all gone by now . . . . And they weren't CSO's.

I can tell you that they probably won't be receptive to the offer. But what you can do is this: Send them that $20 each month with the same letter outlining your payment plan. They will cash the money orders (you don't want to send a check or else they will get your new account info). They probably won't agree to that small of a payment, but just keep plugging away at them, and eventually it will be paid off. Odds are if they are at least recieving something every month, they aren't going to waste time suing you.

Great idea!! I am in the process on composing a letter to send them. When it is done would you mind reading over it and giving me your opinion?

Quote:

I think that sounds good, and covers things well.

I would suggest adding a sentance in the first paragraph after the 3rd sentace but before you say what you can pay per month. Something along the lines of "I fully intend on meeting my obligations with Company X, but cannot make a payment in full at this time." That way it communicates your intent to pay, but again reiterates that payment in full is not an option.

good suggestion! Thanks for the help!

Does anyone have a physical address or fax number for Payday OK?? I only have their telephone number.

: 77 South High Street, 21st Floor Columbus OH 43215 Phone: (614) 728-8400 ...

If you need addresses it is sometimes faster just to do a search in the above box(which is what I did), rather than to wait for someone to come by and post.

Also, to add to kash's post (for anyone reading through), you can always go to the BBB site and get information on the companies you need. You can search by name, by telephone number, or by url. It's really easy and you'll get all the information you need such as address, telephone number, their rating, etc. :D

I don't think the above address is correct for Payday OK. They are located in Deleware.

The BBB has this:

PayDay OK of Delaware, LLC
paydayok.com
42 Reads Way, Suite B
New Castle, DE 19720
Phone Number: 866-612-4506
Fax Number: 866-612-4508

They also use the following addresses:

PayDay OK of Delaware, LLC
2207 Concord Pike #606 (866) 612-4506
Wilmington, DE 19803

PayDay OK of Delaware, LLC
2810 Sudderth Drive Suite 211 (866) 612-4506
Ruidoso, NM 88345

PayDay OK of Delaware, LLC
2207 Concord Pike #604 (866) 612-4506
Wilmington, DE 19803

PayDay OK of Delaware, LLC
2207 Concord Pike #607 (866) 612-4506
Wilmington, DE 19803

PayDay OK of Delaware, LLC
42 Read's Way Suite C (866) 612-4506
New Castle, DE 19720

God love Pay Day OK. Depends on what day of the week which address they use...... :shock:

I think their main office is in Deleware, but they have other offices around the country. I would send it to one of the Deleware addresses, the ones on Concord Pike are a mail drop.

Ok, I sent all the letters out last week and have received 3 calls today from different lenders. I felt pretty good over the weekend but today I am feeling a little stressed again. It was nice to be able to pay my actual bills and still have a little money left. Today though I feel like maybe I didn't do the right thing. I feel nervous and every time my phone rings at work I dread who is on the other line. I specifically put in all the letters that they were not to call me at work. Can I just tell them to stop calling me and they should?

Yes, legally they should. But these companies care very little for legalities . . . . It can be hard to stop them from calling, and frankly, they are calling you at work to try and embarrass you into paying them. It's all part of their "collection" process.

Please don't be stressed. You are doing the right thing. How much longer could you have lasted doing it the old way? It's got to stop.

You may want to tell your coworkers that your ID was stolen, and someone took out a bunch of credit under your name, and now the companies are calling thinking it's you. That way when the pdl's start getting really nasty your coworkers won't think you're a thief or something.

Good advice! I still feel sick to my stomach. I have to call one of the CSO's back tonight and try to work out something with them. I hope that they are pretty understanding but I haven't seen many comments on here about people and CSO's so I am not sure what to expect. I know it was the right thing to do but it is still stressful.

Just hang in there. It will get better. Know that you are not the first person to ever default on a loan. You won't be the last. These people will try to make you feel like crap, but they are the ones breaking the laws and taking advantage of people that need money.

Just keep your head up. You are doing the right thing. You will get control back. It's a step by step process, and soon enough you will start to see some results. :D

If these lenders call and only leave their name and phone number should I just ignore them since I don't know which company they are calling from? I know everyone says the best way to communicate is through email or mail.

That last post was from me too! I guess I got loged out.

I sent a letter to Check n Go to try and work out a payment plan with them and this is what was sent back to me. Should I just send them a $20 MO with the letter again?? Any suggestions would be great!

Quote:

belle, what payment amount do they want? I see they put "payment number 8". What are they expecting rather than $20.00?

They want $268 but I just can't do that I guess if I just let it default and then I can just pay them off once it go to collections. I guess that is the best thing to do.

Does anyone know if the CSO's have to be licensed with the state or with the federal government. I want to check them out some more to make sure they are really operating legally.

They do not have to be licenesed, only registered with the Sec of State. I've some of them out before and they all had their ducks in a row . . . .

You can do a search to see if they are registered as a CSO on the Sec of State page. But it can be hard to find certain companies, because they are registered under their corporate name, not the name you are familiar with, so it can look like they don't have a registration when they do.

Here is what I found:

Payday One & Payday OK (Same parent company)

Reg# - 20060058
Exp - 6/30/2008

ACE

Reg# - 20060006
Exp - 2/23/2008

Check n Go

Reg# - 20050025
Exp - 6/24/2008

Cash Net USA

Reg# - 20060083
Exp - 10/5/2008

I just got a call from some supposed law firm representing Paycheck Today demanding payment. I explained to her that the loan was illegal in my state and she said that it wasn't because I did it on the internet therefore that voids state law. I told her that was untrue and she wanted to know what I could pay today. i told her zero and she asked when my next payday was and I told her I wasn't giving her that information. She said one way or another I will have to pay the loan. I told her not to call me at work again and she said that that didn't matter. What should I do now? I know this is just their thing to get me to pay but after that I really don't feel like paying. What can they do next?

belle, I'm sorry you got this phone call. They're going to try to scare you into paying. You did good standing your ground. Very good actually. And you are correct, so don't let them scare you. Now, what you can do is send them an email stating that you just received a phone call. Tell them once again not to contact you via telephone. Tell them to only communicate via email or USPS. Tell them you will not accept any phone calls whatsoever. Do this. Send the email. You want it documented that they called you. You want it documented that you asked them AGAIN to not contact you via telephone. Good job with them, belle. You're correct. They are wrong. They will be intimidating, that's why it's best not to talk to them. Do everything in writing.

Thanks for the pep talk. I felt really nervous after the phone call and worst of all my boss was sitting across from me when I got the call. He is very understanding and just asked if I had a problem. I told him nothing to worry about. At least he is really cool about that stuff but it is still embarrassing.

It's very embarrassing! Lord! I would run to the conference room when I got a call! If you keep emailing them not to call you, they just might finally catch on (yes, they're slow) and email you. Like I said, you don't want to talk to them on the phone anyway. No documentation of the crap they're feeding you. But, honestly, you did great on the phone with them! :wink:

Ok, I have another issue and need advice. I received an email from payday ok yesterday and it said that i need to call to make payment arrangement by 3:30 pm today. I wrote them an email and told them what I could pay and that going forward I would like to have communication either through email or mail so that there is documentation of our agreement. I got another email from them today and again they said I need to call and make arrangements by 3:30 pm. Should I call them or should I email them again and tell them what day I will be sending a payment. Also, I requested a physical address to send payments to and they haven't sent that. They just keep saying that I need to call them. What should I do???

I would call them, and tell them that you have sent emails, and that all responses from now on must be in writing so that you have proper documentation of everything.

belle, you can call as goudah posted. Just tell them you will only communicate via email or USPS because you need documentation of everything. Tell them this is on the advice of your state attorney general. This is not an unreasonable request. They can communicate via email. If they get nasty with you, hang up and send them an email. You want everything you can possibly get in writing.

I have read some of the previous threads about "Tim" from payday loan yes and I am trying to find out if payday loan yes and paycheck today are the same companies owned by MTE. I sent him the email disputing the validity of the loan and he said that I must have his company confused with another one of my creditors. I resent my original letter again. I just want to make sure that they are the same company. I never had a loan with payday loan yes.

Payday Loan Yes is not owned by MTE. They are owned by Global Payday, and also go by Cash Net 500 and USA Cash Express.

Why would they be contacting me when I do not have a loan with either of those companies? I have sent an email requesting they send me the contracts because I never received any money from them. Are there any other names that they could go by?

The only names I know of that they go by are Cash Net 500, Global Payday, Payday Loan Yes, and USA Cash Express.

Well I went to their website and it let me login but it said I was a collections customer and needed to call this number. I have already sent an email with a request to get a copy of the contracts that I supposedly signed. I guess now I need to go to the bank and get a copy of my old bank statements since that account is now closed. What name would they have deposited money under?

I thought I had all these under a little bit of control and now here comes this one that I know I didn't receive any money from them.

They may have deposited under any one of their names.

One thing to try, call the customer service number. Ask them to email you a copy of the contract. Dont' mention a dispute or anything, just be nice and polite. I had a loan with them and requested a copy of the contract from collections and never got it. I called the CS number and asked for it and it was emailed to me within 5 minutes.

I think if I remember correctly that I was denied this loan from them but they are saying that I owe like $560

So I just got a call from Mr. Lewllan from ACE Cash Express. My $300 loan has gone now to $512 I guess with fees and other things. He called me at work and I basically told him I wasn't going to talk to him at work. He left his number and he kept telling me that he wanted to handle this situation so that it doesn't go back to the bank. What do you think he was talking about? I have already closed the account that the loan funds were deposited into. Can the bank somehow charge my new account? I have mailed and emailed them the letter that does not allow them access to my account. Any advice?

This is a storefront, correct?

no this was done on the internet. He did ask if I could take the money to one of the store front today and I told him no.

So this is a loan company that does internet and storefront? Do they have an actual check in their hand from you?

No, they do not have an actual check. I only ever emailed them my bank statement. They do have store front locations as well but I never went to any of the stores.