Drowning
Date: Sun, 05/31/2009 - 19:56
I am in need of help. I have fallen into the dreaded online payday loan trap. In the last year, I have paid over $40,000.00, yes that's correct. Now that it has gotten out of control, I have paid approximtely $600.00 in overdraft and courtesy pay fees by my bank. The sad part is that I have borrowed somewhere in the neighborhood of $26,000.00 during that period of time. Given, some of the payments were applied to loans obtained prior to the data that I pulled. I currently owe somewhere in the neighborhood of $5,000.00-$6,000.00. It is surely a trap in that you slowly start borrowing to cover debt payments. Here is a summary, as best I can gather, of the detail (principal only):
United Cash Loans: 500.00
Impact Cash USA: 300.00
Cash Transfer Centers: 800.00 (in aggressive collection)
Speedy Cash: 300.00
Integrity Advance: 300.00
My Payday Loan: 420.00
Eastside Lenders: 250.00
Little Loan Shoppe: 400.00
The Cash Spot: 120.00
One Step Cash: 500.00
One Click Cash: 455.00 (In Collection/the did execute an ACH after contacting me, so I'm assuming I'm out of collections??)
Cash Direct Express: 30.00 (I know-kind of small, but it's there)
Total Lending: 300.00
Astro Lending: 300.00
CashNet USA: 500.00
Paycheck Today: 500.00
I know there are one or two more, but I would have to do some more research. The biggest problem is that I have to continue to extend the loans with minimal paydown in principal. I have a decent salary to cover my bills without all of this, but this has caused problems with my mortgage (currently working on a loan modification), utility bills, daycare, etc., etc. Most of the time lately, it consumes my entire paycheck and many time I incurr overdraft fees or the bank pays it and charges overdraft fess and courtesy pay fees. My credit has gone down the tubes in a big way. Any guidance on how to get out of this hell would greatly appreciated and more.
Thank you,
ccable
Ah OK Texas, well, one unfortunate thing about Texas is they hav
Ah OK Texas, well, one unfortunate thing about Texas is they have CSO's (Credit Service Organizations), therefore they would not follow the payday loan laws, they are perfectly legal in what they charge and the interest is usually outrageous. Click on the link below to read your payday loan laws.
http://www.paydayloaninfo.org/state_detail.cfm?id=TX
Click on the link below to search the Texas CSO data base.
https://direct.sos.state.tx.us/cso/csosearch.asp
Many of your lenders are NOT legal, I will list them in a minute, you really need to close your account to stop these lenders from debiting your account because no matter what you say to them they will not stop and you will not be able to get this under control until you close your account.
Quick question: I'vew noticed that many of the debits coming
Quick question:
I'vew noticed that many of the debits coming out of my bank account are by different organizations than the company listed on the website. Sometimes it just lists a phone number, most of which do not work. Do I need to find the lender in the background to look them up?
Thanks for the responses.
ccable
Yes. They're all internet. CashNetUSA operates as a CSO in
Yes. They're all internet.
CashNetUSA operates as a CSO in Texas. Registered with the Texas Consumer Credit Commission. Speedy Cash might be, too. (There are several companies that use this name and I'm not sure which one you borrowed from.)
United Cash, One Click Cash and Paycheck Today - pretend to be Indian tribes. It's just a ruse to keep state AG's at bay. (Tribes have sovereign immunity.) The "real" owners pay off a couple of tribes in Niobrara, Nebraska and Miami, Oklahoma to put their names on documents. But United Cash and One Click are both run from the same call center in Overland Park, Kansas and Paycheck Today is run out of Bala Cynwyd, Pennsylvania. Not exactly indian country.
Cash Transfer Centers is run out of call centers in Canada. They pretend to be operating from Malta, though.
Total and Astro are not licensed anywhere. They are run by the Hodes brothers out of Kansas City.
My Payday Loan is run out Costa Rica and doesn't pretend to be anywhere but Costa Rica.
The rest are licensed lenders in other states, but not registered CSO's in Texas.
Here are a few, I am still researching. Meanwhile; CLICK HERE to
Here are a few, I am still researching. Meanwhile; CLICK HERE to find out how to deal with illegal lenders.
United Cash Loans are part of MNE and are not licensed anywhere.
UCL (800) 279-8511
3531 P Street, NW
PO Box 111
Miami, OK 74355
Impact Cash LLC (Not Legal in Texas)
1551 RENAISSANCE TOWNE DR, STE 560
Bountiful, UT 84010
Telephone: (435) 214-4148
Cash transfer Center is illegal and based in Canada and Malta.
Cash Transfer Centers
Email: customercare(at)cashtransfercenters.com
Fax: 866-809-4069
Level 8 Suite 3
Plaza Commercial Center
Bisazza Street
Sliema SLM15, Malta
phone: 1-866-958-3278
fax: 1-866-809-4069
Speedy Payday is not licensed in Texas
Quote:Quick question: I'vew noticed that many of the debits
Quote:
Quick question: I'vew noticed that many of the debits coming out of my bank account are by different organizations than the company listed on the website. Sometimes it just lists a phone number, most of which do not work. Do I need to find the lender in the background to look them up? Thanks for the responses. |
I would if I were you. One thing for sure, don't pay these illegal lenders any more than the principal amount you owe them, and pay them via USPS with money orders, set up a payment plan with them on your terms. Due to the fact they are illegal, there isn't a thing they can do to you, except harrass the heck out of you. The guest has given you a lot of good information, just click on the link on how to deal with illegal lenders and you should be fine.
By the way, One Click Cash is the worst of the worst, please get
By the way, One Click Cash is the worst of the worst, please get your account closed asap so you can begin paying these off and have money to live on. Read through the link I gave you and you should be alright.
Wow, This is invaluable information. I had no idea. It soun
Wow,
This is invaluable information. I had no idea. It sounds like it might take a bit of work, but if it will get me out of this jam, it would be more than worth it. Thank you so much for the information. If you think of any more, please share. This is great.
Thank you,
ccable
Thanks for your insightful and well articulated expression of yo
Thanks for your insightful and well articulated expression of your personal opinion. The predicament I am in now is a culmination of events over a period of time. It was a case of unexpected expenditures that I had to address (son-surgery, car repair, new A/C, etc., etc., etc.). I came to this site seeking advice. I have never failed to pay a loan off. I have paid off dozens of these loans.
This seems to be a pretty common and serious problem that is increasing in scope. That must be why states are passing laws. I had no idea, even after completing many payday loans with no problems. I had no reason to believe that any of this was illegal. They gave me the money with my less than stellar credit and I paid it back, period. Just recently I have gotten in a little over my head. So what would be the right thing to do in that situation? Seek advice from people that have experience in these matters sounds like a good one. Establishing some dialogue with my bank sounds good. Contacting the lenders and try and come to a mutually satisfactory arrangement. That's a good one too.
I haven't read many threads, but just out of curiosity, is this forum for helping people or flaming them?
Looking back at the history of this debacle, I think I was the one that was robbed. I have paid back every cent I have borrowed and much more. Some of these loans date back pretty far (the smaller ones, $300 or less, that will extend the loan for a small sum of money over and over and over). I have never gone and borrowed a bunch of money and not paid it back, nor have I gone out and borrowed a bunch of money all at once (it's been a cumulative effect over an extended period of time with other factors contributing to the cause). Based on your dialect and attitude, you were probably in still in diapers when I took out my first loan.
As far as caring whether or not they were legal, the thought never crossed my mind. They were there, I borrowed, and I paid back. What, in that scenario would lead me to believe it was illegal? I probably should have balked at the interest and fees, but oh well. I paid it. Another helpful poster informed me of the potential illegalities yesterday (thank you). I would assume that the lender is the one that is engaged in the illegal activities. Legal or not, all I am concerned with is resolving my current financial hardship.
Regards,
ccable
AMEN ccable.....If I were the crook why would i have paid 3000 f
AMEN ccable.....If I were the crook why would i have paid 3000 for a 550 loan? I like you have paid off many but am a single parent and things come up.....
Guest....I had someone on the forum mention to me they thought V
Guest....I had someone on the forum mention to me they thought VC Funding was owned by Hodes Brothers? I haven't been able to find anything to link that...I know they are in Kansas - Overland Park.....
You can't sit on the sidelines and judge my situation. You are
You can't sit on the sidelines and judge my situation. You are in no position to give me advice without knowing anything about me except my payday loans. I have a family of 5, I own a 4 bedroom house (fully furnished), 2 cars, both me and my wife's salary together surpasses the century mark, which I guess is middle class nowadays but should be enough to live fairly comfortably you would think. In any case, my point is I am not choosing to take the overpriced loans, nor have I ever skipped out on one. Both me and my spouse put ourselves through college, while working, along with some financial aid to make it through (which is the real credit killer). We do what we have to do to survive. Sure there are low points and high points, but we make it through every time. I'm not looking for sympathy or criticism. I came for advice plain and simple. I knew full well what I was getting into when taking on those loans. For starters , you try dropping $15,000+ on your son's surgery (that's with insurance) and see if your rear is a little sore.
Go harass someone else. Better yet, take an unbiased look in the mirror and try and come up with ways to improve your life so you don't have to lurk around boards flaming people that don't deserve it to get your jollies.
To everyone else, I apologize. I'm new to the board and I am not familiar with the temperature here. This will be my last response to the troll.
Regards,
ccable
ccable.......I'm in Texas to. I have 5 illegals that I've all o
ccable.......I'm in Texas to. I have 5 illegals that I've all overpaid except one which I sent off money order for 110.00 today. Friday was first day they missed a payment from me.....2 of them (Ameriloan and Eastside) I've overpaid by THOUSANDS....hope all works out well for you. Let's keep our chins up!
Thanks for the encouragement. If I can just get past this, I th
Thanks for the encouragement. If I can just get past this, I think I can start to save some money, pay all my bills in a timely manner, and basically eliminate a significant source of stress, which I'm sure has a negative impact on my family, among other things.
Good luck with your situation. I know it's rough. I have paid over 2 grand on 2 $300 loans with one lender. I have to say, these loans have helped me out of a bind a few times, but they need some aggresive regulation. They are too easy to obtain and it's too easy to get in over your head. These guys are making too much money taking advantage of us.
ccable
Keep me posted on your progress......especially on the ones we h
Keep me posted on your progress......especially on the ones we have in common! - and I'll keep you posted on mine. I agree.....LOTS of stress....affects every area of your life. I'm like waiting for other shoe to drop. Missed first payments with these guys Friday....THey strangely have not rang my phone off the hook? It almost scares me more not to hear from them? Only emails from VC Funding and PDL Loan Center / High Country Ventures. I forwarded them my BBB and FTC complaint numbers....I would have thought Eastside and GFS and Ameriloan would have been calling me every 2 minutes. I'm sure it will start any minute now.
ccable...just joining in this now and wondering if you've closed
ccable...just joining in this now and wondering if you've closed or frozen your bank account?
I, too, was desperate and frantic. But finally took the advice from people on this forum..I froze my account and went and opened another bank account at a different bank. So no one has or will have my new account #! I'm dealing with the PDL companies on my terms now, mainly because I have no choice in the matter anymore. It's either get rid of the PDLs, pay them off what I owe them on a budget I can afford...or I'll lose my house, my vehicle, and my utilities will get shut off.
For once, in over a year and a half, it felt so good to get my full paycheck and not have to spend 80% of it paying off the interest/fees to these PDL companies.
I didn't believe it a month or so ago, but there is a way out of this PDL trap and the people on this forum have been a blessing.
Good luck to you, please keep us informed.
That's good to hear. I'll be standing at the doors of my bank o
That's good to hear. I'll be standing at the doors of my bank on Monday morning. Just the thought of having most of my paycheck is thrilling. I'll keep you up to date. What a balancing act it's been for months now (I've been doing it for at least a year+, but it's really been catching up to me recently. Wow.
I apologize in advance if this breaks any board rules but . . .
Yesterday, I got hit by Lansbridge Group for $180.00 and $210.00 totalling $400.00 with a phone number attached to the transactions that is no longer in service. Anyone know who this is? I know that the payday front end is often times not the real lender, but I can't find anything on these guys, except for a university named Lansbridge. Maybe I'm having a momentary mental lapse, but I'm coming up blank on this one.
In any case, thanks for the encouragement/support and I extend mine to you all. I feel better already although I know there will be some headaches along the way.
Regards,
ccable
Lansbridge has took over for Paradise Cash Advance customer Ser
Lansbridge has took over for Paradise Cash Advance customer Service no is 866-611-4556 I also got hit on my account12/18/2009 $60 and again on 12/24/2009 $50 buy Lansbridge they say they donot have cease deceast letter for paradise cash advance if i still had a copy i could mail it and of course I have moved and no longer have it so need a copy of a new one help bank has been notified and was told to come and file a unauthorized transaction which i will do in the morning but help do i need to close my account the loan was to my husband even explained not his account and they would give me no information on it other than have him call