Need advice concerning defaulted payday loans in texas

I don't know if you have the laws for your state so I will post them for you.
Texas State Information (just select your state),

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

Also, a lot of storefronts in Texas operate as CSO's so they don't even have to go by the pdl law for Texas.

If Mary Kare still has her paperwork it should say whether or not they are a CSO on it.

It should state it on the loan documents. I'm noticing that a LOT of Texas store fronts are now operating as CSO's to get around the pdl law.

That much is drilled in my brain, I have seen it posted so much in reference to Texas :D

How do I find out if the internet loans are licensed in Texas and should I just try to pay the amt they say I owe. Do the store fronts have to let you try to make arrangements. I have talked to several people and have been told nobody can help with store front loans. I was paying almost 300.00 interest every two weeks on the largest loan.

Hi,mary kate! First of all, we'll need to know if your store fronts are operating as CSO's. If you have your loan documents, it should state it on there. Check them to see if they say anything about the store front operating as a CSO (rather than a pdl). Also, we can check to see if the internet ones are going to be licensed in Texas for you. You have:

Little Loan Shoppe
NetCashUSA
Zip Cash
Cash Central

Are these the only internet loans you have? The Little Loan Shoppe, I do not believe will be licensed/legal. And they're asking you to pay 505.00 after you've already paid 360.00 on a 300.00 loan? Has Net Cash responded to you at all? And who much did you borrow from Zip Cash and how much have you paid so far?

ZipCash is who responded for NetCash loan. They said I could make monthly payments totaling 520.00 for 400 loan that I have already pd 360.00. I haven't heard anything from Cash Central. I have pd them 405.00 for loan with them.
The Cash Store is CSO. I borrowed 1500.00 from them and have pd them 900.00. I owe them 1746.00. I sent certified letter asking for pay arrangements. No response at this time. I appreciate your help.

So NetCash and ZipCash are actually the same company? And The Cash Store is operating as a CSO. Great. That pretty much means they don't have to go by the state pdl law. They can pretty much charge you whatever you want. Nice. Oh, I think that just sucks. Do you need for me to check and see if your internet loans are licensed in your state?

Yes, please let me know if the internet are licensed so I can deal with the storefront loans. Thanks for your help.Do storefronts usually send letter letting you know what arrangements they offer. I sent certified letter asking for all communication in writing. I haven't heard from any of them at this time.

I am assuming NetCash and ZipCash are the same group.
I contacted NetCash but received email from ZipCash with same address as NetCash
ZIPCASH
314 N. Riverside Drive.
Espanola, NM 87532

I have been trying to find info online about The Cash Store which is storefront.This is the largest loan and the interest has been 296.00 every two weeks. The loans are financed through TreeMac Funding Group, LLC. Once a loan has defaulted does the interest and fees stop if arrangements can be made to repay the loan? Sorry for all the questions. I am trying to get a plan together before they start calling me.

marykate...actually many times they may ignore your letters...even if send cetified. It may be better to call them and try to set something up with them.

Morning, I may be wrong, but with store fronts don't you need to speak to them in person. I know that the epp can only be evoked before the loan defaults.

Cash Central is a CSO in Texas.

So these are the only actual payday loans out of the 6 that I have. Looks like the others are CSO's.
The Little Loan Shoppe borrowed 300.00 Pd 360.00
I emailed them about arrangements and they emailed me back and stated I owe them 505.00 and can make monthly payments by money order.
NetCash USA borrowed 400.00 Pd 360.00
Someone from ZipCash responded to email sent to NetCash about arrangements and stated I owe them 520.00 and can make monthly payments by money order.
That means that I have four loans that can do pretty much anything they want about the amount that I owe.
Correct? At this point I am not sure what to do.Any
suggestions.

November 26, 2007







CERTIFICATE OF ACCOUNT STATUS





This is in response to your inquiry about the status of


I found this on one of the state websites,does anyone know what it means.

THE CASH STORE LLC

This corporation is not in good standing as it has not satisfied all state tax requirements.

I found this info on BBB website about NetCashUSA.
They rated them F
We strongly question the company???s reliability for reasons such as that they have failed to respond to complaints, their advertising is grossly misleading, they are not in compliance with the law???s licensing or registration requirements, their complaints contain especially serious allegations, or the company???s industry is known for its fraudulent business practices.

Not many payday loan companies have good ratings with the BBB . . . .

They are all going to be rated badly because of so many complaints.

What state website did you find the above on? It may be a good thing, or it may not have anything to do with the situation.

The Cash Store is a licensed and legal CSO in Texas. Their registration is active.

Name: Cottonwood Financial Texas LP d/b/a The Cash Store # 76

Address: 1901 Gateway Drive, Suite 200, Irving, TX 75038
1901 Gateway Drive, Suite 200
Irving, TX 75038
File Number: 20050024
Status: Renewal
Expires: 6/28/2008

Since I have pd back interest on these two loans should I write them and try to only pay amt I borrowed.
The Little Loan Shoppe borrowed 300.00 Pd 360.00
I emailed them about arrangements and they emailed me back and stated I owe them 505.00 and can make monthly payments by money order.

NetCash USA borrowed 400.00 Pd 360.00
Someone from ZipCash responded to my email about arrangements and stated I owe them 520.00 and can make monthly payments by money order.
Is there any chance The Cash Store will allow me to make payments? I have pd them over 900.00 in interest on the 1500.00 loan I have with them. I had previous loan with them that I paid in full. It has been almost two weeks since I stopped paying and I haven't heard from any of the store fronts.
I appreciate your advice.

i also have 3 payday loans in tesas, they are all storefront, one for 700 the payback being 842 is with advance america cash advance i have already renewed it paying the interest totaling 842. payoff is presently 842. one is with ace express for 700 the payback being 845. it is new i had a previous one for 400 paid 270. then paid it off last week in the total of 485. had bills past due re-borrowed 700. the final one is with check n go it is for 505. the interest being 101 every 2 weeks. i have paid in 404 and still owe 485. work is very slow i am close to eviction, i am afraid to contact the loan companies. i cannot pay them this week on friday. i feel like i need to close my account to protect the direct deposit this week. i need it to pay rent. if i close my account will a warrant be issued for my arrest? please help

With the laws in Texas it is possible to face bad check charges . . . . But unlikely, as long as you contact the places and explain the situation.

Most of the places you borrowed from are CFSA members. This means that if you go in at least 1 day before your loan is due, they must offer you an extended payment plan.

so is my best bet still to close my account and open a new one, thus not risking the checks being run while i try to work out paymnet arrangements

A roof over your head is more important then paying on some loans. Do what you have to do. Just be sure to keep up communication with the lenders.

Texas will not enforce an NSF check to a payday loan company. Researched that for a friend a while back.

i have been fortunate, the payday lenders are all offering to allow me to pay them out in smaller payments. the interest will not continie to acrue. thanks for all of your help and support!!!

Do payday lenders that are label themselves as CSO's have to follow the same rules as collection agencies? I have sent them numerous letters to not call me at work and it hasn't stopped. I have also told them over the phone not to call me at work but that hasn't helped either. Any ideas?

I am employed by the little loan shoppe (shark).com I tire of the way they glutonously debit money and leave the consumer uneducated on the proccesses as their guidelines change weekly. The parties owing the debt do NOT get the memo as the rules and disclosures change. They only find out after they have been tirelessly debited and charged beyond belief. Their legal jusrisdiction is out of UT, whereas they do all originationns in Washington state, with the majority of the most well-fed attorneys being housed in Nevada. They are clever, but also pucker at the thought of legal action. I have seen first hand, any breath of "class action" is enough to make their portly owner sweat profusely. I am not a disgruntled employee, but yet one who is interested in educating the consumer myself. Any interested parties can inquire.

LOVE the post! :D

Hollar you are a wonderful person! Thank you some much for posting and offering to help others. It is nice to see that all PDL employees are not heartless and mean:-)

I have a payday loan with Quick Cash in Texas. The lady said I must pay it or they will issue a warrant for my arrest and go to my work or home is that true.

vanessa, is the loan current? Or have you defaulted on it? Also, is the name actually QUICK CASH or is it QUIK CASH? There's a difference. If it's QUIK CASH, they are a member of the CFSA and you can make payments on it if you have not yet defaulted.

I concur, thank you so much for your input. It does give me a glimmer of hope knowing that there are some decent people out there.

My loan was for 1,000 and i have been paying 300.00 a mounth just in interest.and still owe 866.00.what would happen if i just stoped paying them.

Can anyone tell if they have had any luck with making payments to the Cash Store? I have not defaulted yet but I am worried because it seems that they charge alot extra when you default. Help I need advice.

Here is another thread about the same company.

It looks like they are a member of CFSA so you can request and EPP. Read that thread and get more information on them.

Here is the corp address and phone number is case the store refuses to give you an EPP.

Michael M. Olguin, Owner/President
Cottonwood Financial, Ltd.
1901 Gateway Drive, #200
Irving, TX 75038 972/753-0822

I believe The Cash Store is not a PDL, they told me so today when I reminded them that I do not get paid until Friday, and the loan was for 14 days, which will be tomorrow. I have not had a problem with coming in a day or two after due date until today. The lady told me that the money would be taken out of my account tomorrow night if I don't bring in the money tomorrow to extend the loan. I get paid only twice a month. She said TreeMac Funding Group was cracking down on them. They have two diffrent plans Pay $92.00 for 10 weeks or $71.00 (I owe around $468.00)and continue to pay until I get it paid off. This is something new that I just found out about two weeks ago. If I don't pay tomorrow before they close, I will have $92.00 taken out (some kind of an auto withdrawel) without any choice. How can I stop this ? I talked to my bank today and explained the siduation. I am going in to cancel the check they have, but how can I stop the auto withdrawel ? I told the cash store I would come in on Friday to talk to them. PLEASE HELP!