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Consolidating payday loans

Date: Sat, 03/29/2008 - 19:40

Submitted by eg4
on Sat, 03/29/2008 - 19:40

Posts: 4 Credits: [Donate]

Total Replies: 7


Would someone that has recently consolidated loans explain how this works?

I guess I am looking to hear that someone has actually done this with payday loans, I did a search and have had trouble seeing if people really were able to consolodate.

If you consolodate can you keep your current bank account?

I have paid so much in additional fees- I will pay back what is owed but cannot continue to do the huge fees every payday.


eg4, there are companies that deal with pdls. From what I've read, the companies do advise you to close the account. As this is the only way to prevent these vultures from continually debiting you into the thousands of dollars. Go to the top right hand side of your screen and you will see a search box. Type in Langhorne or Town and Country or T&C. Langhorne and T&C deal with pdls. You can read the posts by members who have used them/are using them. They have good things to say. There will probably be contact information on some posts also. If you need any help, just post!


lrhall41

Submitted by cannr on Sat, 03/29/2008 - 20:16

( Posts: 9317 | Credits: )


Company loan, owe, paid in fees

Cashnet usa 1500 1800 1500
Impact usa 500 520 630
500 fast cash 500 556 630
us fast cash 500 550 630
cash direct express 500 582 630
paydayloan yes 500 410 410
one click cash 300 250 250


lrhall41

Submitted by eg4 on Sun, 03/30/2008 - 08:36

( Posts: 4 | Credits: )


Sorry, I meant to include I am from Texas.

Do you know if I went with a firm like Oakview are they able to begin helping immediately?


lrhall41

Submitted by eg4 on Sun, 03/30/2008 - 09:46

( Posts: 4 | Credits: )


Texas State Information

Legal Status: Legal

Citation:
7 Tex. Admin. Code ???? 1.605; Tex. Fin. Code Ann. ???????? 342.251 et seq. and 342.601 et seq.

Loan Terms:
Maximum Loan Amount:
Loan Term: 7-31 days
Maximum Finance Rate and Fees: $10 per loan + 48% annual interest
Finance Charge for 14-day $100 loan: $12
apr for 14-day $100 loan: 309%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (if renewal charge is less than maximum interest rate permitted; otherwise convert to declining balance installment note)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Texas Office of Consumer Credit Commissioner
Address: 2601 N. Lamar Blvd. Austin TX 78705
Phone: (512) 936-7600
Fax: (512) 936-7610
Regulatory Contact: ,
Regulator Website

Licensee Database

Complaint Instructions

Complaint Form Link

Online Resources


lrhall41

Submitted by kashzan on Sun, 03/30/2008 - 09:53

( Posts: 5401 | Credits: )