In need of help with PDL's in Texas
Date: Thu, 07/07/2011 - 02:51
Submitted by armando.a.alvarado
on
Thu, 07/07/2011 - 02:51
Total Replies: 2
No more. No more will I stay up at night worrying about collection calls, no more selling my personal assets just to make a refinancing fee, no more making up ridiculous stories of why I have no money to simply go to a movie with friends or family.
I am in need of some serious help. Please, any experts or community members reply with your experiences, advice and guidance.
I carry loans with:
First Cash Advance (CSO)- 650 balance in collection
Advance America (CSO)- 570 balance, nearly in collection
Ace Cash Express - 1225 balance in collection- getting various collection calls from them.
CashNetUSA- 1350 balance in collection- perhaps the most annoying of calls from them.
Plaingreen.com- installment loan for 800 in good standing, but a pain to pay nearly 120 a week and watch the principal barely go down.
The Cash Store- installment loan for 400, also in good standing, but still a drag to pay 140 every two weeks just to watch nothing happen.
Speedy Cash- nearly 375 balance in good standing. This one is the more manageable of the bunch.
GreatSkyCash.com- after reading about this place on the forum, I'm really regretting contacting this company. I have a nearly 400 balance when you count the interest. Principal was for 300. I have thoughts on whether or not this site's lending is even legal in Texas.
I need help in taking the steps necessary to take back control of my financial situation. I encountered this site yesterday and have read many situations of people contacting the lenders directly and just wondering if it's a real success. I also see about others advising to close their bank accounts or stopping the ACH transfers that empty your account each payday. Is this feasible and recommended? I have a payday coming up soon and am wondering if I should take this step immediately. I have also seen advice about sending written notice to the lenders as well.
I have also looked into a debt settlement plan, specifically with Oak View Law Group, which I linked to from this site. If anyone has any feedback on their experience with them, can you please tell me? I chatted with a rep from them and the process sounds easy to follow, but just want to make sure that it isn't too good to be true.
A very long post, I apologize, but looking for the community's help, specifically from those in Texas with similar experience.
welcome to the Forums! I don???t have any experience in thi
welcome to the Forums!
I don???t have any experience in this regard. Payday lending is legal in Texas. You can contact with the Texas Office of Consumer Credit Commissioner to know whether or not the payday loan companies from where you have taken the loan are licensed to operate in your state. If they are licensed, then you will have to pay the principal amount with interests and other fees. Otherwise, you will be liable to pay only the principal amount. If it is not possible for you to repay the debt in full, then you can negotiate with your lenders. You may try to settle the debts with your lenders on our own. If it is not possible for you to negotiate yourself, then you may get help from a reliable debt settlement company. The following link may help you in this regard:
http://www.debtconsolidationcare.com/paydayloan-settlement.html
I am in Texas and have had quite a few payday loans, including f
I am in Texas and have had quite a few payday loans, including from several of the companies you mentioned.
Yes, you can close your account and stop the ACH. Then the companies will contact you. At that point, you can set up more manageable payment arrangements. Don't give out your new bank account info or debit card info - they'll hit you hard. Pay by money order or prepaid debit card only.
I defaulted with Cash Store & Ace about 2 years ago (for higher amounts than what you have). They contacted me maybe 2-3 times and then I never heard from them again.