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Date: Mon, 04/25/2011 - 13:58
Payday loans are legal in Texas. Thus, you will be liable for pa
Payday loans are legal in Texas. Thus, you will be liable for paying the principal balance to the lender along with the fees and other charges, if they are licensed to operate in your state. If you've paid off the full amount to them, then you may have a word with your bank manager and close down the account so that they cannot debit anything else from your account.
Cash America is licensed in TX. I would file a complaint as rol
Cash America is licensed in TX. I would file a complaint as rollovers are not permitted. Texas Office of Consumer Credit Commissioner
Phone: (512) 936-7600
In the meantime, I would close your checking account so further withdrawals cannot be made until you get some advice from TX officials. You can also go to their website and file a complaint.
From my experiance the legitimate ones in TX don't automatically
From my experiance the legitimate ones in TX don't automatically rollover like that, but many will skirt the edges of the rules and allow you to extend over and over again by paying the intrest+fees due. Were you calling them or going online to extend this loan? Or are they doing it automatically? If you are doing it, then just don't extend it. If it really comes down to it, let it get returned for NSF, then since it's in default set up payment arrangements with the company. If they are doing it automatically, report them to the AG and send a certified letter stating for the to cease and desist all attempts to collect, not to call you and that you will deal with them only through US Mail, and ONLY after you hear back from AG on how to proceed.