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Help w/ PDL in AZ

Date: Thu, 12/11/2008 - 18:45

Submitted by SPIDER.WOMANAZ
on Thu, 12/11/2008 - 18:45

Posts: 35 Credits: [Donate]

Total Replies: 13


I live in Arizona and need so advice on what I can do about these payday loans. Work was really slow for me so that's how I got into this trap. Now work is going well but now most of my income is going to pay these loans. What I do. I've listed the companies I am with currently based on current renewals. Thanks for your help in advance.

I had to get the last three to cover my rent.

Kimberlie


MyCashNow (Internet/renewal)
$650.00
Fees paid
11/21 – 181.55
12/5 – 121.75

CashNetUSA (Internet//renewed on 11/26)
$500.00
12/5 – 88.24


SpeedyCash-AZ (renewal/Internet/Store Front)
$500.00
11/24 - $88.24
12/5 - $88.24

United Cash Loans (Internet/renewal)
$300.00
12/5 - $90.00
11/21 - $90.00
11/7 - $90.00

GECC Loan (Internet)
$400
First fee due 12/19

Eastside Lenders (Internet)
$300.
First Fee due 12/19

Integrity Advance (Internet)
$300
First Fee due 12/19


i also live in arizona and have received some great advice on this website. although i am in the early stages of getting rid of my payday loans i dont have much advice. although there are a few arizonians here that i know will be along to give you better advice.

from experiance i know speedy cash will do an extended payment plan. my wife had one with them and they offered her a 4 payment plan. but if you default on the plan they start you over from the begining, so if you start the plan make sure you finish it.

as far as cashnet usa i had a 500 loan with them that i know i renewed at least 3 times, they charged me a few fees for defaulting and told me i can do a 3 payment plan, but after paying the finance charge 3 times they still want me to pay 3 payment of 250.00. by my calculations doesnt seem fair.

so are the only 2 on your list i have dealt with, but like i said hang in there and somone will be along to give you great advice


lrhall41

Submitted by bastoops on Thu, 12/11/2008 - 18:54

( Posts: 353 | Credits: )


I know Eastside Lenders is illegal for sure and I know Cashnet is legal. The first thing you have to do is secure your bank account so these companies cannot debit your account. Go to your bank and talk to a manager or personal banker. Sometimes the bank will work with you and sometimes they wont. When I closed my account I had to become creative to protect my interest. Once you secure your account and open a new one (preferably at a different bank) you can then take the next step of sending out your letters. Closing your account is the most important step you have to take. You need to block your illegal lenders and make payment arrangements with your legal ones.


lrhall41

Submitted by kfstaff24 on Thu, 12/11/2008 - 19:31

( Posts: 1448 | Credits: )


Quote:

Arizona State Information

Legal Status: Legal

Citation:
Ariz. Rev. Stat. ???? 6-1251 et seq.

Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: Three (extensions)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: $25 NSF fee + actual charges assessed by the financial institution
Criminal Action: Prohibited

Where to Complain, Get Information:
Regulator: Arizona Department of Financial Institutions
Address: Financial Enterprises Division, 2910 N. 44th Street, Suite 310 Phoenix AZ 85018
Phone: (800) 544-0708
Fax: (602) 381-1225
Regulatory Contact: Robert Charlton,, Assistant Superintendent of Banks


lrhall41

Submitted by kfstaff24 on Thu, 12/11/2008 - 19:37

( Posts: 1448 | Credits: )


MyCashNow and CashNet are both illegal in illegal in Arizona whereas United Cash and Speedy Cash are legal. I'm not sure about the others. For dealing with the illegal ones, please follow the steps as mentioned in the link below: -
What should you do in case of illegal pdls in your state?

In case of legal pdls, you have to follow the laws as mentioned in the post above.


lrhall41

Submitted by phoenix on Thu, 12/11/2008 - 20:34

( Posts: 1445 | Credits: )


So for the ones that are illegal, if I haven't paid anything on them yet, do I still owe and if so, do I just owe the principal. Also, how can I find an accurate list of which one's are legal and which ones are not?

Thanks in advance.

Kimberlie


lrhall41

Submitted by SPIDER.WOMANAZ on Fri, 12/12/2008 - 17:39

( Posts: 35 | Credits: )


LICENSED LENDER'S OFFICE:
Cash America Net of Arizona, LLC
200 W. Jackson Blvd., Suite 2400
Chicago, IL 60606
(888) 801-9075

If you live in AZ this is what is on your contract. They are licensed here. They do not operate as a CSO in AZ. This is how they appear on the licensee data base for AZ

Cash America Net of Arizona, LLC
200 W. Jackson Street, Ste 2400
Chicago, IL 60606
(312) 568-4205


lrhall41

Submitted by kfstaff24 on Fri, 12/12/2008 - 17:49

( Posts: 1448 | Credits: )


I had a PDL with Payday Yes.com in Deleware, i was paying $375 a month in rollover fees on a $750 loan, which was very stupid on my part to begin with,but at the time i was trapped.
I had already paid them $1,500, twice the prinicipal loan,i e-mailed them and told them i was revoking the ACH authorization and as far as i could tell they were not authorized to conduct business in Virginia, and i had contacted the SCC,and was going to contact the States Attorney General about them.I did'nt hear anything from them for 2 weeks, today i got an e-mail telling me about the contract i had signed and that they were doing business legal in Virginia, but that they were marking my account as PAID IN FULL as of this date. I will continue to keep a eye on my account to make sure they don't try to debit anymore, but maybe this will help someone else get out of the trap like me.


lrhall41

Submitted by on Wed, 12/31/2008 - 10:33

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