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Specific to TX

Date: Mon, 09/06/2010 - 14:30

Submitted by machelle collins
on Mon, 09/06/2010 - 14:30

Posts: 20 Credits: [Donate]

Total Replies: 2


I was on here a few weeks back, and I can not seem to locate the specific informations the indicates the a Payday Loan Lender must be licensend in the State of Tx. I understand the CSO, and I have that information. The information I see here indicates payday loans for Texas are legal or they can operate via a CSO. I am looking for specific reference so I can submit a letter of revocation of ACH, etc. to put in a letter to CashTransfer Centers and the like who are internet lenders doing business illegally.

Thanks in advance.

:confused:


When I started having problems with my loans, I searched everything and everywhere about payday loans in Texas. Do I search for the Texas Administrative Code, Title 7, Part 5, Chapter 83, Subchapter F, Rule 83.604. Once you find that, part b may be what you are looking for. If it is not then I am at a loss as that is what I am hoping is the rule for payday lenders to be licensed.


lrhall41

Submitted by Gregory Lee on Mon, 09/06/2010 - 15:48

( Posts: 26 | Credits: )


Get on the Texas Secretary of State website. Do a search under CSOs. I believe it states on that page that all lenders in Texas must be registered with the state. All payday lenders in Texas operate as CSOs. I can already tell you CTC is not registered in Texas.

But they will send a response letter that says they don't have to follow Texas law since they are chartered in Malta.


lrhall41

Submitted by on Wed, 09/15/2010 - 14:17

( Posts: | Credits: )