Pay Day Loan Help

Texas is a bad state to live in as far as PDLs go. Believe me...I live there too.

Need the following information -

How much do you owe, who are the PDLs, how much are your payments and have you made any payments yet.

Once you post that information, someone will come along and help you out. Hold tight...

Okay here they are:

Discount Advances original amount $950 current amount $700 I've paid them $901.25 in interest and $250.00 on principal. Some of the $901.25 is strictly extension fees and interest.

PayDay One original amount $1,000 and balance is still a $1,000 because I've only been paying the extension fees and interest which total $523.92.

CashNet USA original amount $1,500 and my balance is $500 I've paid them $1,528.31.

First Bank of Delaware which use to be Think Cash original balance $1,400 current balance $1,393.25. My payment to them every other week is the same and it is $98.51.

Thanks.

Well, Think cash is NOT a pdl it is an installment loan backed by a bank and 100% legal. They can charge what ever thay want. Not much you can do .

CashNetUSA is a CSO (Credit Service Organizations) they do not go by the payday loan laws and are usually legal in what they charge, unfortunately, they charge a ridiculous amount of interest. Ask them for an extended payment plan, or see if they have a hardship program you can get on. Payday One is legal and a payday lender, you will also need to make arrangements with them, Think Cash is an installment loan, same goes for them as CashNetUSA, you might also ask them if they offer a hardship program. I am not sure about the other one you have. If they are taking aotomatic withdrawals from your account you may want to think about revoking their rights to ACH withdrawal then try to make arrangement to pay them via the mail with money orders. Once you have revoked thier rights to debit your account they are usually pretty good about following the law on that. You will also need to revoke any and all wage assignments you may or may not have signed, then you will need to show a copy of the letter to your employer, that is to protect you from them attach your wages (other then court-garnishment).

I have emailed all of them about another repayment schedule with payments I can afford but I have not heard back yet. As far as them garnishing my wages, I do no think that is allowed in Texas unless it is for a government student loan that has defaulted. Please let me know if I am wrong about this. Thanks for all of the information.

Wage Garnishment and Bankruptcy Exemptions -- Texas
WAGE GARNISHMENT EXEMPTION: 100% of wages are exempt

MAXIMUM INTEREST RATE:

Legal: 6% with agreement; up to 18% without agreement
Judgment: 10%

STATUTE OF LIMITATIONS ON ENFORCEMENT:

Open Account (credit card): 4 years
Written Contract: 4 years
Domestic Judgment: 10 years (Renewable)
Foreign Judgment: 10 years (Renewable)

Debt Kit has sample letters and techniques for dealing with debt collectors

BAD CHECK LAW DAMAGES: None

BANKRUPTCY PROPERTY EXEMPTIONS (Texas Revised Civil Statutes Annotated):

Can use either the state exemptions below or the federal exemptions

The State of Texas has exempted the property and income below from seizure by the bankruptcy court to pay creditors:

Real Property: Real property, unlimited value, up to one acre in town or city and 200 acres elsewhere (100 acre limit if unmarried) must file exemption with county, proceeds of sale are exempt for six months [41.002]
Personal Property: Jewelry up to 25% of total exemption, 60 livestock, motor vehicle, pets, 120 poultry, tools, total of all personal property, life insurance cash value, and unpaid commissions up to $30,000 or up to $60,000 for head of family, athletic and sporting equipment, boat, books, bicycles, cattle (12), equipment, clothing, farming or ranching equipment, two firearms, food, heirlooms, home furnishings, two horses or donkeys and saddle, blanket and bridle for both, professionally prescribed health aids to 100 percent; any or all of the following to a total value of $60,000 for a family debtor ($30,000 for a non-family debtor) [42.001 and 42.002]
Insurance / Annuities: Life, health, accident or annuity benefits, cash value, or proceeds (cannot exceed limit under personal property section above) [Insurance 21.22]; retired public school employees group insurance, unlimited amount [Insurance3.50-2(10)(a)]; Texas state employee uniform group insurance, unlimited amount [Insurance 3.50-2(10)(a)]; state college or university employee benefits, unlimited amount [Insurance 3.50-3(9)(a)]; benefits from fraternal society, unlimited amount [Insurance 10.28]; life insurance if beneficiary is debtor or debtor's dependent, unlimited amount [42.002(a)(12)]
Pensions / Retirement Plans: County and district employees, unlimited amount [Government 811.005]; firefighters [6243e(5) and 6243e.1(104)]; judges, unlimited amount [Government 811.005]; municipal employees, unlimited amount [6243g and Government 811.005]; police officers, unlimited amount [6243d-1_17), 6243j(20), 6243g-1(23B)]; tax-deferred retirement benefits, unlimited amount [Property 42.0021]; state employees, unlimited amount [Government 811.005]; teachers, unlimited amount [Government 811.005]
Public Benefits / Entitlements: Unemployment compensation, unlimited amount [522lb-13]; workers' compensation, unlimited amount [8308-4.07]; aid to families with dependent children [Human Resources 31.040]; medical assistance, unlimited amount [Human Resources 32.036]
Wages: Earned but unpaid wages, unlimited amount [42.001(b)(1)]; unpaid commissions up to 75% with limits (see personal property section) [Property 42.001(d)]
Miscellaneous: Business partnership property, unlimited amount [6132b-25]; amount of alimony needed for support [42.001(b)(3)]

So I signed up with PDL Assistance but I have not paid them anything yet and after reading what everyone has posted, I may be better off working with my creditors myself.

Has anyone that lives in Texas had any luck with working with their creditors themselves and getting the interest and fees reduced? I have a couple of loans where I've either already paid more than the principal or almost paid all of the principal just because of the interest and fees I've been charged. I'm just not sure how to handle this but if I can save myself money by handling it myself, I think that is the way I should go. I guess I'm just a little worried about handling it myself. Any advice will be greatly appreciated. Thanks.