logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

PDLs! Thank Goodness I found this site!!

Date: Mon, 01/26/2009 - 14:11

Submitted by angela
on Mon, 01/26/2009 - 14:11

Posts: 4 Credits: [Donate]

Total Replies: 6


Hello All Fellow Bloggers!

As we all have fell on hard times at one time or another; I too chose to the PDL and thought that 1 won't hurt and then 1 led to 3 and several more!! I had no clue that these companies were or could be operating illegally!! I am in TN and here is a list of my PDLs:

Cash Direct Express powered by GECC Bal 113.85
PayDayOne Bal 1089.00 Rolled Over
Upfront Payday Bal 585.00
US Fast Cash Bal 390.00
Huskhawk Group Bal 390.00 Paid 90 in fees
SDS Bal 390.00 Paid 90.00 in fees
CMG Bal 390.00 Paid 90.00 in fees

I of course have processed these all thru the internet. I have been reading the threads about closing accounts, etc. I have two accounts that I have had for quite some time. However if in TN it is legal to close and reopen; I am willing to do this to stop the madness.

I also had a problem with a FREE TRIAL and have had no success in cancellation of this free trial so I had already thought about closing my account. The bank placed a stop payment on the charge and the company used another "name" to get around the charge!!!!

Please comment with suggestions and how to proceed from here!! Thanks so much for your time and efforts! I know that I have learned my lesson!!!

Angela S


If you have a good credit score, I would suggest you to pay off the payday loans first because these loans have very high interest rates and may put you to vicious circle of debts.
Now, since the company with whom you had signed up for free trial is continuously debiting money from your bank account, I would suggest you to close down your existing account and open a new account.


lrhall41

Submitted by jstn.credit on Tue, 03/03/2009 - 04:25

( Posts: 139 | Credits: )


CMG, US FASTCASH, SDS, Hushhawk Group, and Cash Direct Express are ILLEGAL lenders. All you owe them are the principal amount borrowed, nothing further.

As for the others I believe they may be licensed but not too sure. Others will be along to help with that info. Or you can do a search in the box uptop for more info.

Have you secured your bank account? if not read this thread. Best of luck! :)

http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html


lrhall41

Submitted by Cool_Abyss on Tue, 03/03/2009 - 09:54

( Posts: 2936 | Credits: )


Here is your state laws. Also refer to the link provided on the bottom.

Quote:

Tennessee State Information

Legal Status: Legal

Citation:
Tenn. Code Ann. ??45-17-101 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 31 days
Maximum Finance Rate and Fees: the lesser of 15% of the check or $30
Finance Charge for 14-day $100 loan: $17.65
APR for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: 3 (2 per licensee)
Rollovers Permitted: None (cannot renew or otherwise consolidate)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: One $30 NSF Fee; Court Costs
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Tennessee Department of Financial Institutions
Address: 511 Union Street, Suite 400 Nashville TN 37219
Phone: (615) 741-2236
Fax: (615) 532-1018
Regulatory Contact: Bart Daughdrill




http://www.debtconsolidationcare.com/paydayloan/internet-lending-in-50states.html


lrhall41

Submitted by Cool_Abyss on Tue, 03/03/2009 - 09:59

( Posts: 2936 | Credits: )