Not sure what to do now - Please help
Date: Fri, 05/11/2012 - 12:07
Submitted by kristine_escobedo
on
Fri, 05/11/2012 - 12:07
Total Replies: 2
First, thank you for this website :)
I sent my ACH revoke letters out, closed my account, so far so good.
Regarding the legal lenders (I have 4) for example GoCash.com. I live in Texas and took out a $400 loan back on 9/23/11. To date I have paid $2400, and they're telling me my balance is $277 to pay the loan off. GoCash is considered a CAB (another name for CSO in Texas). So I can't negotiate anything down and have to pay principal and interest.
Also, when I called the OCCC, the guy told me that IF the lender has "Choice Law" anywhere on the contract I signed, they can be considered legal. Is this true? He also told me you have to be very careful with dealing with the Tribal ones like CashCall which I have. They are considered legal whether they're registered in my state or not.
Please let me know - need help with this one...
I sent my ACH revoke letters out, closed my account, so far so good.
Regarding the legal lenders (I have 4) for example GoCash.com. I live in Texas and took out a $400 loan back on 9/23/11. To date I have paid $2400, and they're telling me my balance is $277 to pay the loan off. GoCash is considered a CAB (another name for CSO in Texas). So I can't negotiate anything down and have to pay principal and interest.
Also, when I called the OCCC, the guy told me that IF the lender has "Choice Law" anywhere on the contract I signed, they can be considered legal. Is this true? He also told me you have to be very careful with dealing with the Tribal ones like CashCall which I have. They are considered legal whether they're registered in my state or not.
Please let me know - need help with this one...
Tribal loans are illegal...period. You do not live on the reser
Tribal loans are illegal...period. You do not live on the reservation, you are not subject to their laws.
question
I guess how do I work it out with the legal lenders like GoCash, CashNet, CashCentral and ACE? Do some of them actually negotiate the amount down if you've been paying on it for a while?