Legal?
Date: Mon, 04/19/2010 - 06:42
Cashnetusa.com. - Priniciple amount $1500.00 paid $383.00 is CSO fees. I know this one is legal and have sent a written request for a payment plan. Am waiting to hear back
Mycashtime.com - Orginal loan $300.00 in 10-09. I have paid $1020.00 in fees alone. Is there anything I can do about this one?
Paydayone.com - $1000.00 paid $634.84 in fees.
nationwidecash.com -borrowed $300.00 almost have this one paid off. Not too worried about them.
My question is, is there anything I can do about the mycashtime.com one? To me the laws are confusing and I don't know for sure. I have asked them before about why they don't start initiating money to pay off and they say they don't have to.
Quote:Originally Posted by AnonymousGood morning. I live in Texa
Quote:
Originally Posted by Anonymous Good morning. I live in Texas and I have 4 payday loans currently. Cashnetusa.com. - Priniciple amount $1500.00 paid $383.00 is CSO fees. I know this one is legal and have sent a written request for a payment plan. Am waiting to hear back Mycashtime.com - Orginal loan $300.00 in 10-09. I have paid $1020.00 in fees alone. Is there anything I can do about this one? Paydayone.com - $1000.00 paid $634.84 in fees. nationwidecash.com -borrowed $300.00 almost have this one paid off. Not too worried about them. My question is, is there anything I can do about the mycashtime.com one? To me the laws are confusing and I don't know for sure. I have asked them before about why they don't start initiating money to pay off and they say they don't have to. |
well paydayone may be a CSO as well,so you might want to contact them about a payment plan too.as far as the other two go to the sticky in this forum titled DEALIN WITH ILLEGAL LENDERS.it will guide you as it has many others.i would use the info in there to request a refund from mycashtime as you have waaaay overpaid.first order of business is to secure or close your current account,and open a new one.you can do this at the same bank,but make sure it is not linked to the old one.do this first.then use the info in the sticky to pay the legal ones,and get the illegal's out of your life.
I just went to their website and they have the following blurb o
I just went to their website and they have the following blurb on the bottom: My Cash Time.com operates under Chapter 393 of the Texas Finance Code, and is a Credit Services Organization registered with The Texas Secretary of State. Our service provides you the opportunity to submit an application for a loan, it is not the lender's confirmed and approved offer to give you a loan. Advances offered are loans made by a third-party lender not affiliated with My Cash Time.com. Loans are subject to Lender's credit approval and certain limitations apply.
Does this mean that they are a CSO and can continue to charge me whatever?
Try searching them at the link below: https://direct.sos.state.t
Try searching them at the link below:
https://direct.sos.state.tx.us/cso/csosearch.asp
Quote:Originally Posted by AnonymousI just went to their website
Quote:
Originally Posted by Anonymous I just went to their website and they have the following blurb on the bottom: My Cash Time.com operates under Chapter 393 of the Texas Finance Code, and is a Credit Services Organization registered with The Texas Secretary of State. Our service provides you the opportunity to submit an application for a loan, it is not the lender's confirmed and approved offer to give you a loan. Advances offered are loans made by a third-party lender not affiliated with My Cash Time.com. Loans are subject to Lender's credit approval and certain limitations apply. Does this mean that they are a CSO and can continue to charge me whatever? |
i wouldn't trust them.check on that yourself.btw the secretary of state isn't in charge of these things.it's your states AG,and the DFI.(department of financial institutions) check there to clarify.again there are so many non-truths with that web site i would noy trust the lender at all.
Funny...did a search and nothing comes up. Go figure.
Funny...did a search and nothing comes up. Go figure.
Quote:Originally Posted by AnonymousFunny...did a search and not
Quote:
Originally Posted by Anonymous Funny...did a search and nothing comes up. Go figure. |
exactly right.these places can claim anything on their website.it's your AG or DFI website that count.
Quote:Originally Posted by AnonymousI just went to their website
Quote:
Originally Posted by Anonymous I just went to their website and they have the following blurb on the bottom: My Cash Time.com operates under Chapter 393 of the Texas Finance Code, and is a Credit Services Organization registered with The Texas Secretary of State. Our service provides you the opportunity to submit an application for a loan, it is not the lender's confirmed and approved offer to give you a loan. Advances offered are loans made by a third-party lender not affiliated with My Cash Time.com. Loans are subject to Lender's credit approval and certain limitations apply. Does this mean that they are a CSO and can continue to charge me whatever? |
My Cash Time is NOT registered as a CSO, they need to be reported to your secretary of state for posting that on their website, please also file complaints against them with FTC, AG and the BBB, it's important that you file these complaints, especially since they are actually advertising being a CSO when they aren't even registered! Don't pay them a penny more than what you borrowed, less any interest, fees and payments so far. Close your account asap and read the thread on how to deal with unlicensed lenders.
Ok sooo I sent them an email telling them that they were illegal
Ok sooo I sent them an email telling them that they were illegally taking money from my account and that they needed to send me a letter showing that my account was paid in full. Here's their response:
Congratulations on educating yourself via the Consumer Federation of America’s Pay Day Loan Consumer Information website for the state of Texas . You now know what your rights are should you go into a brick & mortar Pay Day Loan store in Texas . Unfortunately we are not a brick and mortar Pay Day Loan store, and are licensed in the state of Texas as a Credit Services Organization doing business over the internet. The license information is posted on our website.
However, per your request, we have audited your account and as of Monday, April 19th 2010, Loan #369178 was considered “Paid in Full”.
All former and the current loans and add ons to existing loans you requested from My Cash Time were credited promptly into your bank account overnight without delay; and likewise all debits were submitted per the Agreement Form schedule with your signed authorization. Unfortunately there were no buy down attempts on this past loan to reduce the principle, or the balance of the loan.
Thank you for giving us the opportunity to serve you. We appreciate your business and the confidence you have placed in our company.
Thanks,
Customer Service
1-877-533-6500
1-877-533-6514 fax
www.mycashtime.com
I tried to go back onto their website to check my account and it has been disabled. Imagine that. Now to get the other 3 accounts taken care of. Thank you for your help! No more payday loans for me EVER!