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gocash.com - legal?

Date: Wed, 05/23/2012 - 00:17

Submitted by kristine_escobedo
on Wed, 05/23/2012 - 00:17

Posts: 11 Credits: [Donate]

Total Replies: 9


Does anyone know if gocash.com is legal? I'm in Texas and trying to deal with them is difficult. I have paid $2200 for a $400 loan....so any help would be greatly appreciated.

Thanks


I think gocash.com is an illegal lender. You are liable only for the principal. Ask them for the refund, as you have overpaid them. Close your bank account asap to stop unauthorized withdrawal and open a new one. Look at this page to know about how to tackle illegal lenders:
http://www.debtconsolidationcare.com...allenders.html


lrhall41

Submitted by Tyler on Thu, 05/24/2012 - 22:47

( Posts: 269 | Credits: )


quit following an informative post with stupidity meant to confuse.nelly is right and her advice should be followed.like her post mine is short,and to the point unlike both of yours.


lrhall41

Submitted by paulmergel on Fri, 05/25/2012 - 05:26

( Posts: 15514 | Credits: )


This is the response I received from gocash.com.

In the state of Texas, Go Cash - TX, LLC is a CSO registered with the Texas Secretary of State. Go Cash - TX, LLC is not a lender. For loans offered in Texas, go Cash - TX, LLC will assist you in obtaining an extenion of consumer credit from an unaffiliated third party. For this service, Go Cash - TX, LLC charges a fee of $25.00 per $100.00 of the amount financed. The leder makes loans at 10% per annum simple interest.

WTH?? Can someone tell me what this means?


lrhall41

Submitted by kristine_escobedo on Fri, 05/25/2012 - 06:13

( Posts: 11 | Credits: )


that means they are a CSO.d'oh i looked it up and it is there as a CSO.now based on there response how long have you had this loan?the 25.00 per 100.00 is a ripoff,but legal for a CSO.sorry but it is a CSO and legal i forgot about that.i do need to know how long you had this loan?


lrhall41

Submitted by paulmergel on Fri, 05/25/2012 - 06:33

( Posts: 15514 | Credits: )


can you inquire as to how much it will take to pay it off?if you can do it asap as this vicious circle will continue until you do,or see if you can work out something to pay this off,but as much as it does suck,and is a ripoff it is legal.you need to try and either payoff,or pay down.


lrhall41

Submitted by paulmergel on Fri, 05/25/2012 - 07:13

( Posts: 15514 | Credits: )