Urgent help with Payday Loans in Texas!
Date: Tue, 10/20/2009 - 00:11
I am in need of help in what to do about these payday loans that I have paid back twice over. I haven't been able to pay nothing but the interest so I keep rolling them over every 2 weeks. I have these ones and they aren't internet but ones that I have went in the store and took out last year or earlier this year for some of them.
Ace Check Cashing $600
First Cash Advance $500
Speedy Cash #600
Cash Store $500
Fed Cash now Ca$h Maxx $600
EZ Loan $600
Up until a year ago was doing good now I am always depressed and crying. I work for a bank so closing account would be hard because they direct deposit paycheck and I am afraid i will be fired for writing these postdated checks. My bank is very conversative and they don't allow the employees to have non sufficient funds coming through their accounts. The bank feels that as an employee you should handle your money well as a representative dealing with customers money. I know I am responsible for my debt but this is morally and ethically wrong what payday lenders are doing. They target desperate people who have credit problems. I am not saying we shouldn't know better but they are getting over in some respect. I know I have paid most of these people back 2x in the rollover fees which for most of them is $100 dollars to roll over. I have even thought of trying to close out my 401k to pay them off and just start over. I have no family memebers I can borrow from because they have their own problems and parents are deceased so I don't see a way out. If anyone can offer a Texas girl hope I would appreciate it. I would go to my church and talk to my pastor about it but the shame is too great.:( Midwestgirl
I know how you feel
Pleae hang in there, I too am barely starting my fight with these pdls...
I've been feeling sooo blue lately. But, you know what I think we can come out of this! Have you done a search on your pdls to see if they are legal or not?
From what I read here so far you can request an EPP (Extended Pa
From what I read here so far you can request an EPP (Extended Payment Plan) from the legal pdl companies (I did with one of mine).
needfreedom...................smile you are almost there.
needfreedom...................smile you are almost there.
I am doing my best to stay positive but sometimes it is so overw
I am doing my best to stay positive but sometimes it is so overwhelming. I tried to get a payment plan with Fed Cash but they said the new comany Cash Maxx wouldn't let them do it. Once I get out of this mess I will not do it again. Thanks you and everyone here for their support and encouragement.
Quote:Originally Posted by needfreedomFrom what I read here so f
Quote:
Originally Posted by needfreedom From what I read here so far you can request an EPP (Extended Payment Plan) from the legal pdl companies (I did with one of mine). |
You can read about the EPP at the link below, number 11.
http://www.cfsa.net/industry_best_practices.html
Thanks for all the encouragement and help in dealing with these
Thanks for all the encouragement and help in dealing with these pdls. I have read about the extended pay plans and have checked into them. Cash Maxx, Speedy Cash and First Cash Advance are not willing to work with me. I am in the process of looking for another job so I can leave the one I am at and cash out my 401k and pay these loan sharks off. I had planned on changing jobs anyway but it looks like it will be sooner than I had planned. I am going to stop paying the pdls because my other bills have suffered badly and it's gotten to the point that I have no money left for gas or grocery. This thing has just been an emotional rollcoaster. I take responsibility for my poor judgement in making the loans but I have paid them back several times over in interest and plus I am just tired. These people in TX don't want to make payment plans because they want you to stay in debt. Most of these storefront pdls get away with it my operating as a CSO so that way they work around the law. I got paid today and all of it except $200 went to these companies in interest but that's okay because they won't get anymore.:(
I am in the process of working on something to get these vulture
I am in the process of working on something to get these vultures off my back so I will keep you all posted. These pdls in TX operate as CSO(Credit Service Org.) so they are somewhat protected by the law here. I also asked if they have Extended Payment Plans or any type of payment plan and they all said no. They only thing they could do is let the check go to the bank and come back to them and then they would charge a returned check fee. As soon as I get this mess cleared up I will write my Congress person as well as the FTC to see about getting PDLs banned in Texas. I know I made the loan but these people are nothing but loan sharks and they are destroying peoples lives. They claim they offer a service when infact they are no better than a damn pimp.