help with PDLs in Oregon

Are these Internet or store front loans?

Here are the Payday loan laws for Oregon (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

all but one are PDLs

shazzers:

Thanks, though i am not sure i understand all of it.

You're welcome, I know sometimes it's very difficult to understand these laws, I have problems interpreting them myself, but believe me, there are very knowledgeable people at this forum, and they will guide you in the right direction. Have you defaulted on any of these loans yet?

Whiterock, I am doing a little research on some of the PDL companies that you have loans for, I found something interesting about US Fast Cash, was that a store front or Internet loan, I am assuming Internet. According to the link below, they are not licensed in any state, which would mean they are illegal, I am not possitive of that, but if it's true, then all you are obligated to do is pay back the principal amount. What did you mean when you said they are all PDL's but one? What we need to know is, how many of these were obtained on the Internet, and how many were obtained at an actual store? Here is the link about US Fast Cash:
https://www.debtconsolidationcare.com/paydayloan/forum/index.html

I will try to answer both the questions in reference to your responses. I am new to forum and don't know the tricks to move around in these so forgive me for me. Could use help in the short cuts on these forums if you have any.

Anyway - I am not in default - yet
All the loans but one are through the internet. There is one through the Net that I can't find anything on. Nls cash advance. I have looked too. I have received cash advance to US Fast Cash before, where do i need to go to find out if a PDL is legal in my state?

us fast cash is internet. sorry i didn't answer that before.

Hi whiterock..you can check here for licensee info:

http://www.oregondfcs.org/

thanks, i will go check it out, but know i have another stupid question. in some of the other topics or maybe this one because i can't find, there was a mention about contacting the bank to block money from being taken out of your account. Am i understanding this right. I want to get out of this mess but if they keep taking money out of my account i will never be able to pay them off like i want to. I would like to "stop payment" then cancel my Direct deposit and close my account. get all the bills together and send just one check to a CCC agency. Am i on the right track? Or am i going about this the wrong way?

Closing your account would be an excellent idea. I am on a dmp and they pay ALL my bills for me. I only pay the household stuff, utilities and whatnot. Personally, I like not havng to worry about making out checks each month.

Volly - just went to the site you gave me and tried to find the PDLs that i have out. Did it by name and none of them came up. Or either i did it wrong or none of them are licensed in oregon.

All good questions...no worries. :D

You are correct, the sure fire way to get them to stop is to take away their source, and that is your checking account. Here is a great thread with lots of info to read about that:

http://www.debtconsolidationcare.com/paydayloan/close-account.html

For the Storefront PDL, head in there no later than 1 business day before it is due and ask for the EPP, which will allow you to pay it off in 4 installments.

Volly - no good tried that, you have to have to reapply within 3 days of the prior loan being paid off to get that perk.

Another question...Boy Am I full of Questions today, also if you have noticed my picture keeps changing. Will have to figure that out later....How much notice do I give the bank?

Yea...its a random avatar...until you upload one yourself.

One question...did you have a storefront loan or are these all internet?

On is store front all the rest are internet. The store front is Money Tree.

Thats what I thought...funny because i couldnt find a license for Money Tree, whereas most stores are licensed. I wonder if they have a dba.

To your question, you would need to start the account closure process as soon as possible. In order for the bank to reject an ACH, according to the Electronic Funds Transfer act, I think its 14-days. But no time limit to close OR you can place your account on deposit only status until you can get your direct deposit rerouted.

If I put on DD only, can I still access the account?

I went and read the info on closing bank will try to save it to myself so i have it when go talk to bank manager.

Nevermind about Moneytree....they are licensed under Moneytree, Inc. AND they are a member of the CFSA which will allow you to ask for the EPP.

It really depends on your bank...usually deposit only will make it so you would need to go into the branch in person. OR you can try a hard debit block.

How much time do you need to re-route your direct deposit?


Here is some info on the EPP:

Extended Payment Plan
A member will comply with a separate code of Best Practices for an Extended Payment Plan, which provides customers who are unable to repay a loan according to their original contract, the option of repaying the loan over a longer period of time at no additional charge. The customer will have the ability to pay the balance in four equal payments coinciding with the customer????????s periodic pay dates, and the member will be prohibited from beginning collection activities while the customer is in good standing under an Extended Payment Plan. A customer shall be allowed to utilize an Extended Payment Plan at least once in a 12-month period. A member will adequately disclose the availability of the EPP to its customers.

Volly - They do have Money Trees in Oregon but not many most are washington. They have been a good lender. If they deposit check and no funds they take it the next month. You can then go get another loan with them if you pay the 25.00 return check fee.

Yea..I did the search incorrectly. sorry :oops: they are legit.

Thanks, they kept telling me I could not do it unless i reapplied with in a certain time frame for three or four times in a row. What is a "Hard debit block"?

Basically will block all debits from the account....

Take a look at the thread I posted and then talk to your bank tomorrow if possible.

Keep the questions coming, but if you can get that account closed asap, that will be the key.


Go back and ask for the EPP...you just need to go in before it is due.

Don't Know, I have been with this bank for so long i don't know what I need to do to close account

how much time does your employer require to re-route your direct deposit?

i think by the 20th of the month. but i can cancel my DD with them, then when i get paid go open another account.

If you can do that...that would be great.

Heres what I would do, go talk to your bank tomorrow. Tell them you need to close the account...we recommend you open a new account at a new bank, but if you use the same bank (i did), ENSURE the old+new accounts are NOT linked in any way.

I will talk to them tomorrow. Since I am coming clean..i have a cash advance out with my current bank and they will want their money, so I may have to close old acct. and reopen new account with same bank.

Ah ok....then as long as you stay with them, I am sure they will be fine with it.


NOW, on to the balances that you have outstanding. I am say with 99% certainty that your internet PDL's are not licensed in OR. With that said, we condone paying back the principal balance, but we all know that they PDL's will just keep taking $ for their fees.

Once your account is closed (and only once it is closed) you will need to get letters out to them asap because the calls will come flooding in.

Is there a special section on this site i can get the letters? Once i get all the bills and addresses together which should be this week I want to contact a Consumer Credit agency and talk with them. I still can't find this Nls Cash Advance place

I almost forgot to THANK YOU GUYS FOR HELPING EVERYONE HERE. i had no idea this place was here and didn't know what to do. It is going to be a rest of a long month, but knowing and having a game plan makes me feel alot better

Here is a letter you can use.....customize it to your needs. Honestly, if you can pay back the principal on your own terms, I say try that first, unless you had already planned on using CCC for other bills.


Also, one of our moderators, goudah, is in OR and should be back tomorrow and can fill in any holes here with state specific expertise.

I don't think I can, I would'nt be able to pay them all off at once. If i could do it one at a time, then that would be great, but don't think that would work.

Its okay...one at a time is fine. Most of us here have done it that way.

Also I am checking on NLS for you...do a search in the Search box at the top of the page here for NLS Cash Advance and you can see others have posted about them too.

GREAT!! i have looked all morning and could not find anything.

I found this...

"NLS CASHADV also goes by National????????s Cash Advance and Payday Loan Center" or "Cashadvance.net".

Their phone number is 1-877-995-1400

Thanks alot, I will call them and get the address.

How do i contact the Moderator from Oregon if i need too.

I think that is me . . . I'm from Oregon.

You can PM me using the button under my post.

Oregon has some really good laws now relating to payday loans, and they are very good about trying to enforce them!

And if you have any questions or need any help, let me know! :D

What kind of trouble can we get into if the PDL is not legal in to operate in oregon and we get the loan?
Do we not assume some sort of liability?

No, it's the company that needs to be licensed and comply with the law. You didn't go into these loans knowing they were illegal, right? You expected that the business would comply with any laws.

yes, didn't even think about the company having to be licensed.

Right. You assumed that they were able to give loans in Oregon. Most people don't think about checking out a business first, because most places you deal with are legit.

Volly gave me a sample letter to give to the PDLs. Do i need to call THEIR state to confirm if they are licensed in Oregon? I tried to look on the website with oregon and couldn't find any of them, but not sure if i did it right.

I need to go do my profile. i am signed in as guest.

No, even if they are licensed in their state it doesn't matter. Oregon recently passed a law specifically saying they must be licensed in Oregon to lend in Oregon, regardless of their location.

I will check for licenses . . .

Money Tree is the only one that is licensed.