JK2653 in Texas
Date: Fri, 02/18/2011 - 15:43
I tried posting but they never appear for some reason...so I am copying/pasting what I send to CSFA:
I need to know what I can do legally regarding these loans that I have taken out. I reside in the state of Texas, and I need to know who is legal and who isn’t. And what steps can I take to stop these lenders from taking my money. I have gone to DebtCareConsolidation but they are not posting my questions for some reason (could just be a technical issue). There is so much information, but I am so confused…I read one thing, and another says the opposite. I am praying that you can help me.
These are the loans I have outstanding…I get paid the 15th and last day of each month. I don’t have any $$ left to pay my bills or even get gas/groceries!!!
**Cash Net USA:Loan Amount-$1,700.00;Fees/Paycheck-$300-400;Total Paid-$350;Keep taking this one out every 5th payday…they wipe out check, and I have to keep borrowing to pay other stuff.
**Cash Yes:Loan Amount-$600.00;Fees/Paycheck-$130+$50 pay down;Total Paid-$1,450;
**Ace Cash Express:Loan Amount-$300.00;Fees/Paycheck-$91;Total Paid-$350;
**Loan Point USA:Loan Amount-$500.00;Fees/Paycheck-$138;Total Paid-$1,656;Orig loan date 8/2010
**Loan Shop Online:Loan Amount-$250.00;Fees/Paycheck-$75 + $25 paydown;Total Paid-$0;new loan…1st payment due 2/28/11
**Loan Shop Online:Loan Amount-$250.00;Fees/Paycheck-$75 + $25 paydown;Total Paid-;old loan...keep consolidating with one above to take new one out
**Power Financial:Loan Amount-$300.00;Fees/Paycheck-$91;Total Paid-;OMG…called, and the lady said she could only give me when the last 4 transactions…said that "Kyle" was in a conference call and would call me later…and they are based in Houston, Texas…that's a new one for me
**My Next Paycheck:Loan Amount-$350.00;Fees/Paycheck-$155;Total Paid-$420;Orig loan date 12/2010
**GECC Loan:Loan Amount-$400;Fees/Paycheck-$106;Total Paid-$530
I am embarrassed by my actions, and would like to rectify this immediately. From what I have read, I know that I can close my account (is this true?), but I really don't understand the timeline to do it. I know that a couple of the above are legal, so what/when do I need to with them? And for the rest? Do I send a cease/desist email to the rest? ANd then what? Please help...I am so confused, and there is just too much information...I have read one way and the other...
Would you please sort out which are Internet loans, and which ar
Would you please sort out which are Internet loans, and which are store front loans? Thanks.
There are some lenders who operate CSO's. Basically, a CSO or Cr
There are some lenders who operate CSO's. Basically, a CSO or Credit Services Organization is defined by the Texas Credit Services Organization Act (Section 393 of the Texas Finance Code) as an entity or person that provides one of the following services:
*Improving a consumer's credit history or rating
*Obtaining an extension of consumer credit for the consumer
*Providing advice or assistance to a consumer regarding the previous two services
Please bear in mind the CSO or Credit Services Organization model (unfortunately) IS NO LICENSING required by the state! CSO's are required to "Register" with the Secretary of State, they are NOT licensed, and their fees ARE NOT REGULATED.
If you CLICK HERE you can search the Credit Services Organization data base, but keep in mind that some lenders use dba names.
The link below is where you can search to see if any of your lenders are licensed, TX requires a lender to either be licensed, or registered as a CSO. Most of your lenders are not licensed, please double check it though.
[URL=http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html]CLICK HERE[/URL] to find out how to deal with illegal lenders.
they are all internet loans
All are internet loans...sorry for not specifying that earlier.
I am just scared to close account. What do I do for the legal ones? Am I supposed to call them before due date and work something out??
CSOs...
Do you know what the experience has been for some people in dealing with CSOs? Are there any success stories? I just need to know how to deal with them BEFORE I close my account.
In the case of Cashnetusa, they are usually fairly helpful.
In the case of Cashnetusa, they are usually fairly helpful.
I would suggest you file bankruptcy and wipe out all your loans.
I would suggest you file bankruptcy and wipe out all your loans.
