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Payday hell in Texas

Date: Thu, 11/29/2007 - 17:01

Submitted by anonymous
on Thu, 11/29/2007 - 17:01

Posts: 202330 Credits: [Donate]

Total Replies: 3


I defaulted on several payday loans because I couldn't keep up with all of them and my hours got cut alot at work and I'm behind two months on all my bills and can't even pay those. One of the companies called me and said they were sending my checks to the DA and prosecuting me for writing hot checks, even though I wrote them with intentions of paying them. I just fell on hard times. Can they do this even tho some of the practices they do are illegal, like allowing rollovers which are illegal in Texas. How can they prosecute me when they're in the wrong too?


Are these online payday loans, or are they with storefront lenders there in Texas? If they are storefront loans, the lenders are most likely following the states payday lending laws as required, and are not breaking the law.

If they are online loans, that is a different matter, as most online payday lenders do charge illegal interest rates for many states, and violate various states' rollover allowances, etc. Also, you wouldn't have physically written an online lender a paper check, so prosecuting you for writing hot checks is an illegal threat.

Can you provide some more info, such as who the lenders are, how much the loans were for, how much you've already paid in rollover/finance charges before defaulting, etc.? You may find that according to your state's payday loan laws, you have overpaid one or more of these loans, which will give you ammunition in dealing with the lenders.


lrhall41

Submitted by Tiffany99 on Thu, 11/29/2007 - 20:38

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robstrouble might also have a problem if these are storefronts (which I'm assuming they are because he posted about "checks"). The majority of storefronts in Texas are now operating as CSO's. If this is the case, then the Texas pdl law would not apply to them. It should state on robstrouble's loan documents if the storefront is operating as a CSO.


lrhall41

Submitted by cannr on Fri, 11/30/2007 - 02:35

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