Help- I am sinking fast in Texas

Good for you! You've made some smart moves in the right direction . You are on the right track and will feel like you have more control over where your money goes. Keep checking back here for postings that will help with your problem----experts at dealing with PDLs abound here. Good Luck!

Lorri you are a moderator and you cant help me?

Jamie,

The storefront and CashNetUSA and Payday One are all legal and you will have to work out payment plans with them.

The others I am not sure about. I think Geneva Roth is illegal and so is One Click Cash, but I will search and see what I can find. Someone will help, don't worry.

I have 8 loans out..and don't know where to start..I have closed my account and moved to another bank..I have sent certified letters to all of them..I can't get a bank loan cause I have falled behind on my house so it shows up on my credit..I was going to get enough money to pay them off and just make one monthly payment..What legal action can they take? I want to take care of it just don't know which one to pay first..I found this company called Langhorn and they make settlement offers to the lenders but it was going to cost 300 a month and you have to pay them yourself..they draft their fees out of a savinigs account??
I have loans
First Bank of Delaware internet 400 me and 1400 husband
Check n go internet 700 me 800 husband
AmeriCash internet500 me 400 husband
Emerald Marketing internet 390
CAsh Central internet 300

I was told they can't take you to court and go on your credit..and it is alot better to do the internet loans instead of store front cause they have your paper check..

Any suggestion for me too?

What is a moderator and why can't they help you?

Ok, so my bank account is now closed. Luckily my bank closed it with the negative balance and put a hard hold against it. I feel a little better after reading the laws in my county. I live in Tarrant County, Texas and this is a direct quote from the District Attorney's office. I highly recommend anyone worried about the company's rights vs. yours take the time to find your county's laws or the laws in the county of the company.

Many people think that every worthless check is automatically a criminal offense. This is not true. The person who is familiar with the distinctions will be better equipped to know when they should or should not accept a check. In addition, they will know whether to file a criminal complaint in the District Attorney's Office or a civil suit through their own attorney.

Under Texas Law, the District Attorney's Office cannot accept the following kinds of checks:

Post-dated, "Hold" or "Stop Payment" checks, (unless evidence exists to prove that the "Stop Payment" was used to prevent the check from being returned as a "NSF" check);

Checks presented in payment of debts, loans, charge accounts, or other deferred payment accounts;

My recommendation- don't stop the pmt on the chks- force the bank to freeze the account.

The light at the end of the tunnel is only a speck so far, but it's there. I am taking Dave Ramsey's Financial Peace course and learning a lot about how to manage my money better, even in the worst times. In fact I have been able to identify most of my money leaks. His course is great and so is the info on the website. Check it out if you get a chance.

My first step was to stop anything from getting through my bank. Once I did that, I felt instantly better. I know that I legally owe some of these companies, but there is one that I will not pay one more cent too. Geneva Roth Capital- they never paid down one cent of the loan and instead they have been debiting my account $120.00 every 2 wks, beginning 4/18/08. That equals $1,440 paid on a $400 loan. I'm going to cry all over again. For anyone that does not know, Geneva Roth Capital is a parent company for many different loan groups. You will have taken a loan through some internet group, in my case Loan Point USA, and they will bill you through GRC. When you ask your bank who is taking your money, they will tell you GRC, but if you call GRC, they've never heard of you and have no idea what loan company it could be and "sorry there is nothing they can do to stop the payments." What a very helpful company!

I really hope my taking the time to post on this site helps someone else as much as all the posts are helping me. I have found the letter to send to each company to stop them from debiting and claim fraud. I will be sending that next.

Remember my county does not consider it chk fraud unless the chk is for goods or services. Loans do not count. Close your account & make the bank put a hard hold. Tell the bnk manager that you are working to claim fraud against these companies for illegal practices and probably involving the state attorney general. No bank will refuse to hard hold the account after that. The word fraud scares them.

Then make arrangements to pay the legal ones only (storefronts and any whose contract states the organization is a CSO) those are the ones I know are legal for sure.

Even they decide to take legal action, it would be months. In the mean time pay what you can until at least the principal is paid back. They may say they want big pmts, but they will take anything.

Thanks to everyone that has replied, please keep giving advice, I need it.
God Bless you all!
-Jamie in Texas

Really sorry about the triple post. My computer wasn't refreshing, and I didnt' think it went through.

One more thing- Gal_messmich- you have a loan with First Bank of Deleware. Even though they did the loan online, they work according the Deleware state law and their interest is legal because a bank can import their home state's interest rates. Make sure you make arrangements to pay that one in installments, but don't give them your new bnk info.
Hope that helps!
-Jamie

Guest with the question about me not being able to help---. Yes, I am a moderator, but I didn't feel I had enough experience in that type of situation to advise you accurately on your next step. My apologies.