Is goodtime Cash illegal in Texas?
Date: Thu, 04/16/2009 - 07:40
Sara, here is some information for you to look at regarding this
Sara, here is some information for you to look at regarding this issue,...
You need to be careful in TX because many of these companies operate as Credit Service Organizations (CSO), not pdl's. Check your paperwork and see what the company is listed as. Was Goodtime an internet or storefront?
Please read this thread to understand more about CSO's.
http://www.debtconsolidationcare.com/paydayloan/cso-texas.html
From what I read when I searched Goodtime Cash, it did not appear to be licensed or a CSO..but I would make sure and be certain so you know which action to take.
from BBB website :- Goodtimecash.com Spectrum group services
from BBB website :-
Goodtimecash.com
Spectrum group services , LLC
505 E. Windmill Ln. #1B-244
Las Vegas, NV 89123
They look illegal.
Well what do I do, now that I know they are illegal? I don't wa
Well what do I do, now that I know they are illegal?
I don't want to default on them for fear they will report to the credit bureau. I'm only 19 and my credit is very important to me. I think I'm going to try and pay them off, even though i technically shouldn't have to. I have already sent out ACH revocation letters, but if they disregard them and take the money anyway(which i'm sure they will) than I dont know what to do.
Sara, they wil not abide by the ach revocation. You really need
Sara, they wil not abide by the ach revocation. You really need to close your checking account if you want them to stop debiting. IF you have direct deposit and it will take awhile to get that moved to a new acccount, have your bank place a hard debit block on your account. This will keep any debits from comming though. THis also means you can not use your debit card or write cheks. You will have to go take out your money if you ned it. In cases where the ach is revoked, the will send a paper check through. How much did you borrow and how much have you paid back.
You should also read the sticky at the top of the PDL page about closing your account. This information is really helpful.
If they are unlicensed and illega, if they try to make an entry on your credit report it can be disputed. How much have you borrowed and how much have you paid back. Although if they are illegal, you are not legally obligated to pay them back but we always advocate paying back what you borrowed.
For right now though, take care of your checking account.