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Payday Loan help in Texas

Date: Mon, 06/06/2011 - 23:00

Submitted by anonymous
on Mon, 06/06/2011 - 23:00

Posts: 202330 Credits: [Donate]

Total Replies: 4


Hi, I currently have 2 payday loans open (internet loans).

1. Ace Cash Express $650 principal ; 196.00 fee due next week

2. Mycashnow.com $ 668 including fees due next week

I am unable to pay these back right now due to major financial issues. I am interested in debt consolidation but I don't know if thats a bad idea or not. I am considering closing my accounts and defaulting on the loan to try a repayment program, but I am unsure of the legal issues that my cause. Can anyone let me know about laws in Texas regarding internet payday loans and if the loan companies I borrowed from are legal? I feel as though I'm in a huge hole, I'm stressed out and don't know where to go from here.

Thanks so much.


Payday lending is legal in Texas. You can check out the Texas payday loan laws from the given page: http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html . You can even contact the Texas Office of Consumer Credit Commissioner in order to find out whether or not your payday lenders are legal. If they are not legal, then you can check out the given page in order to find out how you need to deal with them: http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html .


lrhall41

Submitted by Anna Sweeting on Tue, 06/07/2011 - 00:24

( Posts: 1827 | Credits: )


Payday loans are legal in Texas. Check out the payday loan laws in Texas from the following link:

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Ace Cash Express is legal in your state. You'll need to make payment arrangements with them. You can also go for payday loan consolidation program to repay your debt.

MyCashnow is illegal in Texas. You'll only need to pay the principal amount.


lrhall41

Submitted by on Tue, 06/07/2011 - 00:44

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