payday loans in tx
Date: Mon, 01/10/2011 - 23:25
Cashnetusa is registered as a CSO in TX, a CSO is a Credit Servi
Cashnetusa is registered as a CSO in TX, a CSO is a Credit Service Organization and not required to follow the payday loan laws, their fees are not regulated and they are only required to register with the secretary of state.
Brighton Financial is licensed in the state of Utah as a payday lender, they are NOT licensed in TX, nor are they registered as a CSO in TX.
Multiloan Source - One thing I found quite interesting about this company are the disclosures. It is almost funny to read it, because under their "privacy policy" they say they follow the: Gramm-Leach-Bliley Act which has absolutely nothing to do with "privacy". I looked uo the Gramm-Leach-Bliley Act and this is what is states:
Quote:
The Gramm-Leach-Bliley Act, also known as the Financial Services Modernization Act of 1999 was enacted on November 12, 1999 following extensive lobbying by investment banks and other financial services companies. The Act repealed the legal restrictions on combining banking and financial service firms of the Glass-Steagall Act of 1933. This allowing commercial banks, investment banks, securities companies and insurance companies to merge with each other. The Glass-Steagall Act had prohibited any company from acting as both an investment bank and a commercial bank. Both were prohibited from owning insurance companies by the Bank Holding Company Act of 1956. |
Why on earth that was stuck into their privacy policy is beyond me. Their disclosures are very wordy and unnecessary lol.
Multiloan Source is NOT listed as a licensed payday lender, nor are they registered as a CSO.
Basically, you have ONE legal loan here, I would advise you to ask Cashnetusa if you can sign up for the extended payment plan, then close your account, because it will never be safe again. As far as the two unlicensed lenders you have, all you would have owed them is the amount you borrowed less any payments you have already made, [URL=http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html]CLICK HERE[/URL] to find out how to deal with illegal lenders.
Boz, Listen to Shazzer's. You will have to close your bank acc
Boz, Listen to Shazzer's. You will have to close your bank account. I had a loan with Cashnet USA and they were very easy to work with. I also had a loan with Brighton, I owed $22.00 when I closed my account, I sent them a letter requesting a valid mailing address to send a money order for the amount owed and never heard from them again. You will need to file complaints with the AG, FTC and BBB in your state against the illegal lenders, send them a copy via email fax or mail, with draw your ACH and any wage assignments, but first and foremost, close your bank account!! You can pay Cashnet USA with a prepaid money card. You can get them at Wal Mart and the cost is $3.00 each time you load your card and $3.00 per month bank fee. You can avoid the fee's if you do a direct deposit.
