Payday loan problem!

Date: Fri, 01/04/2008 - 11:48

Submitted by stacy_h10
on Fri, 01/04/2008 - 11:48

Posts: 3 Credits: [Donate]

Total Replies: 7

Loanshop/isle has debited my account $90 for the last nine paydays for a $300 loan. I have been trying to cantact them for the last 8 paydays to pay the amount in full. Until yesterday, the number they submitted to my bank didn't work, and yesterday it worked but no one answered. Only some type of message or hold recording. I don't mind paying for the high rate loan since I did receive the money, but I have currently given them $810 and have not been allowed the opportunity to pay them back. My bank will give me the money back if I sign an affidavit, and I am considering doing that if I can't get in contact with anyone. Never have they even lowered the original amount, they just keep taking $90 out of my check every payday (every two weeks). I live in Texas. Any suggestions or guidance.

You need to sign that affidavit. You have paid more than enoug

You need to sign that affidavit. You have paid more than enough back on a $300.00 loan..you have paid them $810.00.

Make sure that your bank is not going to honor anymore debits from this company.

Someone will be along that is familiar with texas law as there are members on here from there so hang on...

ladybug

lrhall41

Submitted by ladybug on Fri, 01/04/2008 - 11:58

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You will have to close the bank account to stop them from debiti

You will have to close the bank account to stop them from debiting . . . . Please read the sticky on closing your bank account first.

They are most likely not legal in Texas, but I haven't checked.

lrhall41

Submitted by goudah2424 on Fri, 01/04/2008 - 11:58

( Posts: 7935 | Credits: )

8008596439 this is their phone number

8008596439
this is their phone number

lrhall41

Submitted by stacy_h10 on Fri, 01/04/2008 - 12:03

( Posts: 3 | Credits: )

Please follow goudah's advice she knows what she is talking abou

Please follow goudah's advice she knows what she is talking about..

ladybug

lrhall41

Submitted by ladybug on Fri, 01/04/2008 - 12:07

( Posts: 2753 | Credits: )

Thanks.

You all have been very helpful. I just have one more question. How do I find out if they are legal or not?

lrhall41

Submitted by stacy_h10 on Fri, 01/04/2008 - 12:27

( Posts: 3 | Credits: )

For Texas you must check 2 places. You can check for licensed l

For Texas you must check 2 places. You can check for licensed lenders by going to the website for the Office of Consumer Credit Commisioner.

If you don't find a license there, you need to check if the company is acting as a CSO. CSO means Credit Service Organization. You can check for registration on the Secretary of State's website.

Be careful when looking for licenses. Sometimes they are under another business name, or spelled differently, or something, so be sure to check all the names.

Also, call them and ask them for their license number. They may not give it to you, which usually means they dont' have one, but they may give you a lead on where to look.

lrhall41

Submitted by goudah2424 on Fri, 01/04/2008 - 12:33

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Stacey - There is a chance you may get a refund for the overpaym

Stacey - There is a chance you may get a refund for the overpayments. Try for one. But they are hard to come by, and sometimes settling for a paid in full is a good idea.

lrhall41

Submitted by goudah2424 on Fri, 01/04/2008 - 14:32

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