Texas Payday Loan Laws
Date: Mon, 02/14/2011 - 20:12
Submitted by redraiderredwine
on
Mon, 02/14/2011 - 20:12
Total Replies: 7
I have several payday loans in Texas, all from Internet.
I dont have many records of payments left after I closed my checking account linked to them all, so please bear with me, I'll list as best I can. I also have made two monthly payments to my noteworld account for PDLDS to act for me, but was wondering if I should cancel and attempt on my own?
I have read where Texas law says a person may only have $500 total aggregate amount in payday loans and beyond that its default of lender? I am confused about most Texas law though regarding payday loans.
Here is my list:
Paydayone $1000 (had at least 4 loans w them)
Cashnetusa $1000 (multiple loans w them also)
Integrity Advance $500
Think Cash (FBD) $1000 (multiple loans)
Ace Cash Express $800 (multiple loans)
Western Funding---Cash Call $1000
I think that is it, close anyway...appreciate any advice!
Know about the payday loan laws in your state from the following
Know about the payday loan laws in your state from the following page:
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
You can also get useful information from the following page:
http://www.debtconsolidationcare.com/paydayloan/firstcapitalmoneycenter.html
As far as I know, Paydayone is a legal payday lender. Thinkcash
As far as I know, Paydayone is a legal payday lender. Thinkcash are legal and not a payday lender, but they are a bank. Cashnet and Ace Cash are illegal. I won’t be able to let you know about Integrity Advance and Western Funding as I couldn’t find any info on them. As far as legal payday loans are concerned, you’ll have to pay them off in full along with all their fees and late charges. In case of illegal payday loans, you will be liable to pay the principal amount only. You won’t be liable for paying the late fees or charges. If you can’t handle the payday loans any more, then you can think of payday loan consolidation in order to get rid of them.
Thanks for the replies...I believe it is actually Western Sky, w
Thanks for the replies...I believe it is actually Western Sky, which then was funded by Cash Call. I have signed on and made two payments with Payday Loan Debt Solutions to handle the accounts. I was wondering about if I could handle the illegal ones or all of them myself after finding this site...I thought Cashnetusa and Ace Cash Express were legal? I'm in Texas. Also, I did find the state laws and am curious about the finding that in Texas, one may only have $500 of payday loans amount aggregated at a time and if lenders loan above that it is considered default on their part and you are not liable?
Thanks again and appreciate any further help and experiences with this or the debt solutions I mentioned.
Other than Integrity and Cash Call I think all my pdl are legal,
Other than Integrity and Cash Call I think all my pdl are legal, so maybe I did ok by using pdlds consolidation?
I might see if they would remove the two illegal ones and I'll work with them myself?
Thanks Shazzers, in that case think I'll stick with pdlds, just
Thanks Shazzers, in that case think I'll stick with pdlds, just a few more monthly payments and quite a bit goes to my acct balance...I know they take fees out in first few payments but they have been great so far and responded to any questions and the calls are going to them.
One piece of info I came across about ThinkCash , FBD, is as of
One piece of info I came across about ThinkCash , FBD, is as of 12/29/10, they no longer lend within the state of Texas. At least that is one less payday lender within the state.