Ohio payday loans, i know i'm an idiot :/
Date: Thu, 09/29/2011 - 16:19
I currently have a couple loans unfortunately and it's to the point, of paying one off just to get it again. i cant seem to break the cycle and realize the irresponsibility of my actions. let me tell you a little info:
I took out a loan with western sky, who then transferred it to cash call. The loan amount was for 850 dollars and i have currently made payments totaling 735.36, and according to reading around the forums, i am only responsible for the 850 dollars. my interest rate is 135% and am scheduled to make payments of 132 until June of 2012
i also have a loan with Great Plains Lending, totaling 400 dollars. I am scheduled to make bi-weekly payments of 96 dollars until december 31st 2011.
i had also taken out multiple loans with cashnetusa.com and have paid them all back in full, but as i understand, if it is illegal, i am only (morally) responsible for the original principal balance.
Please review my info, and give me any info i could have that is helpful. Please only reply if your familiar with these lending companies or ohio PDL laws. Thanks a ton :)
Western Sky is illegal in Ohio CashNetUSA is legal. You'll have
Western Sky is illegal in Ohio
CashNetUSA is legal. You'll have to pay interest rates and fees.
You are morally and legally responsible to pay only the principal amount on the illegal loans.
You should contact with the Ohio Division of Financial Instituti
You should contact with the Ohio Division of Financial Institutions in order to know whether or not pdl companies are licensed in your state. As far as I know both Western Sky and Cash Call are illegal in your state. So you are required to pay them only the principal amount. Close your bank accounts asap so that they can???t debit money from your account in future. Illegal lenders can???t take any legal action against you. If you find that the lenders are licensed in your state, then you will be responsible for both the principal and interest. If it seems difficult for you to payback full debts, then you may enroll in a payday loan debt consolidation program which will help you to replace your multiple bills into a single monthly payment.
As Western Sky is illegal in your state, so you can get rid of t
As Western Sky is illegal in your state, so you can get rid of the debts by paying them only the principal amount. To know how to deal with illegal lenders, you may visit the following link:
http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html
ohiogal- i apologize, but i didn't receive it. Maybe it's becau
ohiogal- i apologize, but i didn't receive it. Maybe it's because i'm so new here i can't receive pm's. if you could please just post your response in this thread. And thanks to everyone else :)
cash call ??
I live in Mississippi. I have a loan that also started w/western sky and immediately transferred to cash call. According to the cash call website, it is illegal in MS. But I assumed they covered themselves in some shady legal way by transferring? Anyway I haven't repaid the actual principal yet, but as we know they charge ridiculous interest and if you make all their payments you will pay twice the amount of what you borrowed.
I just got a new checking acct b/c of other illegal pd loans and cash call has the new account. ugh. Suggestions? Should I just keep letting them debit my account until I reach the actual principal amount and then take action??
scarinu, WesternSky/Cash Call and Great Plains are not legal.
scarinu,
WesternSky/Cash Call and Great Plains are not legal. Only repay the principal.
CashNetUSA is legal in OH (as a CSO) and you're not entitled to a refund for the fees/interest you were charged.
Lee, if you can afford the payments, let them continue their withdrawals until you've reached the principal and then inform them. In the mean time, open a new account.
ohiogal- thanks for all the help. i will be looking into that ar
ohiogal- thanks for all the help. i will be looking into that article on the letters and how to deal with these illegal lenders and getting them off of my back. as stated in that thread referenced above, they cannot take me to court or anything correct?
ohiogal- according to this link, it looks like cash call is lice
ohiogal- according to this link, it looks like cash call is licensed in my state, but it says something about mortgage? check it out and let me know what you think.
but even if cash call is licensed in my state, western sky apparently is not and i believe i should follow all directions posted in the "dealing with illegal lenders" thread correct?
http://www.cashcallmortgage.com/Licensing.aspx
My opinion is that, if your loan was with Western Sky, who's ill
My opinion is that, if your loan was with Western Sky, who's illegal, then your paper with them is void. If they sold it to another lender who is licensed, that's moot. The loan wasn't legal to begin with.