PDL/CSO in Texas

Ace is legal. You need to contact them and set up an extended payment plan. They can take your current balance due and divide it into 4 equal payments for you.

CashNet - is this CashNetUSA? If so, they are also legal and can do the same as Ace. If not, they're illegal and you should only repay the principal in your time.

The others are illegal and you should only repay principal, again, on your time and your terms.

Do not give ANYONE your new account info.

Follow the instructions in this thread.

For further info and assistance, you can also contact the TX OCCC.

Texas Office of Consumer Credit Commissioner
2601 N. Lamar Blvd.
Austin TX 78705
(512) 936-7600

Ohio,

I went online and used "cash advanace america" and they deposited the money using "CashNet" if this helps any.

I will contact Ace and CashNet/Cash Advance (if legal) and work out payments.

Will this matter though, if Im doing the bankruptcy anyway? I would think that having the "negative" on my credit after them going into collections would be erased...?

Yes, CashNetUSA (aka Advance America) is legal.

Ohio,

After searching the CSO - this is what I found out about CashNet USA...which this is also stated on the Advance America website: *Online payday loans are offered and funded by CashNet USA, and marketed by Advance America. Online rates may vary from rates at an Advance America location.

Name: Cashnet USA CSO, LLC # 1 Contact:David Shorr Location:11 N Skokie Hwy Ste 300, Lake Bluff, IL 60044 Mailing Address: 11 N Skokie Hwy Ste 300 Lake Bluff, IL 60044 File Number:20060010 Status:Bond Cancelled Expires:3/14/2007 Account Bond:S902-5647 Surety Company:WASHINGTON INTL INS CO

If the Bond is cancelled, doesnt that make it now illegal?

Sorry this was a double post....


But I got a reply back from CashNet USA and this is what I got:

CashNetUSA is a Credit Services Organization. We will attempt to arrange a loan between you and a third party lender and service that loan once it is issued. Any questions, service issues or complaints about your loan will be addressed by CashNetUSA and not the lender. This information can be reviewed directly on our website under the Rates & Terms page for the State of Texas. Our Credit Services Organization registration number to provide residents of Texas with financial services is 2006-0083.

Please be advised, your cease and desist request for telephone communication has been honored and will be effective immediately.

Listed below is a summary of your CSO loan transaction history:

Customer ID#: 1303001
Loan number: 2438323 (Paid Off)
Loan Amount: $850.00
Due Date: 08/26/2011
Total Amount Due: $1065.12
Extension fee: $265.12 paid on 08/26/2011

Principle rolled over: $800.00
New Loan number: 2445010 (Paid Off)
New Fee: $200.00
Due Date: 09/27/2011
Total Amount Due: $1008.77
Extension Fee: $208.77 paid on 09/27/2011

Principle rolled over: $800.00
New Loan number: 2462000 (In Default)
New Fee: $200.00
Due Date: 10/27/2011
Total Amount Due: $1008.44
Extension Fee: $208.22 Returned insufficient funds

Current Payment Setting: Pay In Full
New Loan Number:2470031
Principle rolled over: $800.00
New Fee: $200.00
Discount Amount: $30.00
Due Date: 11/25/2011
Current Payment Amount Due: $977.95

By extending your loan repayment, you are contracting for a new loan, for which you will be charged an additional fee. The principal from your original loan will now be rolled into your extended loan.

Per ApplyAdvanceAmerica.com policy and in compliance with the laws of your state, each extension is treated as a new loan agreement rather than a continuation of the original agreement. This means that you will still have to repay the original principal plus the extension fee. You will not be receiving any new loan funds. You will still owe the same amount.

Please keep in mind, two transactions have been submitted to your JPMorgan Chase bank Account ending in 0509. If these transactions return unpaid, collection procedures will continue until valid payment arrangement has been scheduled for the in default balance of $208.44 plus an additional $30.00 internal insufficient funds fee and a $10.42 late fee.

At ApplyAdvanceAmerica.com, we understand how important it is to our customers to have access to payday advance funds as soon as possible after an advance is approved. That's why we fund our advances through an electronic funds transfer provided by the automated clearing house ('ACH') network. We also provide for repayment of advances via ACH. Because our advances are single payment advances (that is, we advance a sum of money that is to be repaid in a lump sum), we are permitted to require ACH repayment in accordance with the Federal Electronic Funds Transfer Act ('EFTA').

Under the EFTA, a lender cannot require a consumer to repay a loan by means of preauthorized electronic funds transfers as a condition to approving the consumer's loan. The term 'preauthorized electronic funds transfer' is narrowly defined by the EFTA to mean 'an electronic funds transfer authorized to recur at substantially regular intervals.' As explained by the Federal Reserve Staff in its official commentary to the EFTA, 'Creditors may not require repayment of loans by electronic means on a preauthorized, recurring basis.' 12 C.F.R. 205, Supplement I ???????? Official Staff Commentary, at 10(e) (1) (Loan Payments). As a one-time payment, the repayment of a ApplyAdvanceAmerica.com advance is not encompassed by the EFTA's definition of 'preauthorized electronic funds transfer,' and is therefore permitted under the EFTA.

If you have any questions or concerns, our collections team is available via phone and email.