logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Not sure if I am on the right track

Date: Fri, 07/02/2010 - 01:30

Submitted by Kim McClintic
on Fri, 07/02/2010 - 01:30

Posts: Credits: [Donate]

Total Replies: 8


Thanks so much for creating this forum. It really helps to know that I am not alone in this financial mess I have created for myself and I wish I would have looked here before I borrowed money.

I reside in Texas and currently have 2 outstanding loans, both are internet.

Cash Central - original amount 400.00 I have paid about 300.00 in fees but the original balance still remains

Cash Net USA - original amount is 600.00. I have paid about 450.00 in fees. Original balance still remains.

I have taken on two part-time jobs in addition to my regular job but it doesn't seem to be helping. I also had one loan that I just paid off and became confused about which companies had taken out fees. I thought Cash Net had already taken their fee but they had not so when they came to withdraw on 6/30 there was no money there.

My question is do you suggest I contact both lenders and try to work out an EPP? This has gotten to the point where I end up using the money from the second and third jobs to get by (food, utilities, etc.) and I still end up broke when I get my regular paycheck.

Thanks:confused:


I am unable to find either of your payday lenders on Texas's database of licensed lenders. To the best of my knowledge, Texas requires all payday lenders to be licensed regardless of whether they are internet or storefront. There is an article by Shazzers on this forum about how to deal with illegal payday loans. I tried to post the link to the article earlier but my post wouldn't go through with the link. I am sure Shazzers will be kind enough to post the link if he can.


lrhall41

Submitted by OVLG Attorney on Fri, 07/02/2010 - 07:46

( Posts: 511 | Credits: )


I am still researching Cash Central, but I am pretty sure they are registered as a CSO in TX also, they are probably going by a dba name also.
Well, Cashnetusa has a dba called Cash America Net of TX LLC., so Cashnetusa is legal, they operate as a CSO, see the information below about their registration and bonding:

Name:

Cash America Net of Texas, LLC Address:200 W Jackson Blvd Ste 2400, Chicago, IL 60606 1600 W 7th St
Ft Worth, TX 76102
File Number:20060083 Status:Renewal Expires:10/5/2010
Account Bond:LPM7585617
Surety Company:FIDELITY & DEPOSIT CO OF MD


lrhall41

Submitted by Shazzers on Fri, 07/02/2010 - 08:09

( Posts: 17344 | Credits: )


Quote:

Originally Posted by OVLG Attorney
I am unable to find either of your payday lenders on Texas's database of licensed lenders. To the best of my knowledge, Texas requires all payday lenders to be licensed regardless of whether they are internet or storefront. There is an article by Shazzers on this forum about how to deal with illegal payday loans. I tried to post the link to the article earlier but my post wouldn't go through with the link. I am sure Shazzers will be kind enough to post the link if he can.

I'm a female. lol


lrhall41

Submitted by Shazzers on Fri, 07/02/2010 - 08:10

( Posts: 17344 | Credits: )


Thank you for the quick response.

I contacted Cash Net USA and they worked out an EPP with me. I also contacted Cash Central and they say they do not offer EPPs as a CSO in the state of Texas. They advised to basically let my next ACH not clear and then I will be able to work out a payment plan when it goes into collection. He said once it is in collections then they can work out something with me. He advised that the loan company that uses their services, Texas Loan Corporation, does not allow for EPPs. Do you know if this is true.

Thanks


lrhall41

Submitted by Kim McClintic on Fri, 07/02/2010 - 18:08

( Posts: | Credits: )