Help! I am going to lose everything
Date: Tue, 08/07/2012 - 06:11
I am trying to find out what I can do. I am in Colorado and I know there are laws regulating payday loans but have no idea what to do, how to stop the ACH debts, etc. they all seem to be dbas from Indian Tribes from what I can gather. Some have brick and mortar store fronts.
They are
One Click Cash
Ameriloan
United Cash Loans
My Payday Advance
Westernsky sold I guess to Cashcall
Advance America
Moneytree
Springleag Financial - they did ask for collateral I told them about a TV but gave them no particulars except my estimated price.
Can anyone help me?
Go thru each loan...if they are tribal or offshore they are ille
Go thru each loan...if they are tribal or offshore they are illegal.
Read the link in my signature line for the information you are looking for to take care of this mess.
I'm in Colorado too and was in a similar situation last December
I'm in Colorado too and was in a similar situation last December. Since we're in the same state and since I had loans from a lot of these same companies I think I can help.
One Click Cash-Illegal, go to the Attorney General Website and file a complaint.
Ameriloan-Illegal-See above
United Cash Loans-Illegal-See above
My Payday Advance-I believe this is illegal.
Westernsky sold I guess to Cashcall-Illegal but trickier because they report to Experian and Equifax. I at least got them to lower my interest rate while I'm trying to remove them from my CR. CO law stipulates that unlicensed lenders cannot charge interest in excess of 12%
Advance America-Legal but they will work with you.
Moneytree-Legal but the will work with you.
Springleag Financial - they did ask for collateral I told them about a TV but gave them no particulars except my estimated price.-Springleaf is legal.
I stopped paying on my One Click Cash and United Cash Loans account in December 2011. I have overpaid them by about $5,000 between the two companies. Colorado is currently involved in litigation with them and when I advised them that they are not licensed in my state the stopped all contact with me. The AGs office is really helpful in lodging complaints against illegal lenders so you definitely need to file your complaints. I would advise opening a new checking account and closing your old one. Follow the instructions in SOAPLADY's and OhioGal's sigs to send ACH revocation letters to the illegal lenders and try to work out an extended payment plan with the legal lenders. It may seem bleak but trust me, you CAN get out of this mess. Good luck.
