How do I find out if a payday loan I have received is illegal?
Date: Sun, 07/17/2011 - 13:16
I received an email from Great Sky Cash thanking me for my loan application and stating that funds in the would be deposited into my account. I replied to the email and stated that I never requested to take out a loan with that company and wanted to refuse the funds. I received a reply that if I did not want the loan then I should not have signed the document and that they would be depositing the funds anyway. I did not sign any loan document with them but the document that they sent me with my "acceptance" was an electronic signature. They also had some of my employment info wrong. They did have all of my checking account info so I immediatly had my bank account closed and need a way to verify which loans are legal to operate in the state of Texas and if they are governed by our laws.
The loans I currently have out are.
The Loanbat Group $200
La Posta Tribal $200
500fastcash $450 paid $135.00 (renewal fee)
Ameriloan $400 paid $135.00 (renewal fee)
I have received countless calls at my workplace regarding pre-approvals. When I ask for the name of the company they are calling from they overtalk me. I have received calls at my home asking if I was still interested in getting a loan. I know that I must have applied at a bad site and my info was either not secure or my info was sold to other companies. I want to fulfill my obligations for the money I owe but do not want to be stuck with outrageous finace charges and" renewal rates" to extend the date I can pay back my loan in full. Please help with any advice that will help with dealing with these companies.
Unfortunately, a lot of pdl companies operate in this manner. Th
Unfortunately, a lot of pdl companies operate in this manner. Their main aim is to make money out of the hapless consumers in any way. 500 fast cash is not legal in Texas. Ameriloan is not legal in US only. Pay only the principal amount to these companies. You can know whether or not the other companies are legal in your state from Texas Office of Consumer Credit Commissioner.
Payday lending is legal in Texas. I will suggest you to contact
Payday lending is legal in Texas. I will suggest you to contact the Texas Office of Consumer Credit Commissioner in order to find out whether or not your payday lenders are licensed to operate in your state. If they are not licensed, they won't be able to take any legal actions against you. Also, as you haven't applied for the loan, you can ask your bank to reverse the transaction. This might help you in getting rid of the debts.
