Information on my pdl's!

check if your lenders are listed as CSOs or not and if they are licensed to lend to texas residents.

Hi there, let me do some research on these lenders then I will be back to answer you.

The lenders who are members of the CFSA (Community Financial Services Association of America) offer an EPP (Extended payment plan), you can check to see if any of yours are members of the CFSA at the link below, just because they aren't listed doesn't necessarily mean they aren't so to find out for sure, call and ask them.
http://www.cfsa.net/MemberList.aspx
Click the link below to read about the EPP, number 11.
http://www.cfsa.net/industry_best_practices.html
Click the link below to make sure they are licensed to lend in your state:
http://168.39.159.59/default.asp
Click the link below to see if any of your lenders are CSO's (Credit Servce Organizations), if any of yours are, they would not follow the payday loan laws and are usually perfectly legal in what they charge, usually their interest rate is very high!
https://direct.sos.state.tx.us/cso/csosearch.asp

I found where four are listed as members of cfsa-i will have to pull all of the contracts and i have to check on the cso thing. I guess i just need to call them and explain my situation. I am embarrassed about this whole issue, but im sure everyone that gets to this point can say that. Thanks for the help, and i will post what i find out at a later point. Hopefully they will help me out.

Thanks.
Kristi:)

The lenders who are members of the CFSA needs to be contacted BEFORE you default. The EPP plan is usually only available BEFORE you default, so, if you are planning on using the EPP, request it at least one day before your next payment is due.

I will definantly do this before hand. If it is a store, is this who I contact about the EPP, or do I bypass them and go straight to the Lender they use?

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Ok, here is another question. two of the payday loans I have(one store front and one online, Texas Car title and payday loans, and Payday one) do not show up as being members of the CFSA. Also, The Cash Store storefront loan I have changed from payday loan to installment loan, but they are a member of the CFSA. What happens if they are a CSO and a member of the CFSA. I'm confused. Do they still offer a EPP? Thanks!:) Kristi

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Since my payments are due tomorrow, and the online PDL's auto draft. Is the best way to stop this to just call them. I plan on doing this tonight, but I am not very good with confrontation and especially if they get rude with me. Honestly, my husband and I are just so sick of it. If they take the money out of our account, we will have no money left and utilities are due. Thanks!

Here is an update since I last wrote........Ok, I have seven payday loans, one installment loan with The Cash Store, and two installment loans which I pay monthly. I also have a debt consolidation loan with Citi Financial. Also, we have several credit cards totaling a debt of about $15,000. We have a negative checking account, rent, utilities, and one vehicle payment. With both my husbands and my income we could not make it. We were fightling to pay all of our bills, making just refinance payments on the payday/installment loans, and just barely had money to get gasoline and a little bit of food for the week. I have read on here and done my research and looked into filing bankruptcy, so I scheduled a consultation with a lawyer. After the hour went by, she stated that she thought that chapter 13 bankruptcy would be the best thing for me and my husband. First of all, we do not own anything. Our credit has been too bad to buy a home, and I barely purchased our current vehicle under my name at a local bank. My parents have had to cosign for me up until now. So, knowing that I am not going to hurt their credit anymore, and since ours is sooo bad anyway, we are going through with the process. Chapter thirteen allows you to pay back some to the creditiors but not all of it. It is cheaper than a chapter 7 at first, but more exspensive in the long run. Chapter 13 lets you pay, in our case, $574 to start the filing. This includes the charge to file, the pre counseling that is required and a retainer fee for our lawyer. Then once it has been filed we have a payment garnished from our paycheck each month for three years up to 5. In our case our payment will be $99 for 3 years. The payment includes some that will go to the creditors and some to go to our lawyer. If you file a chapter 7 you pay the $2249 up front, which includes the total fee for the lawyer, and we cannot afford all at once. This is going to take care of all of our loans and all of the payday loans. I am not too crazy about my employer knowing due to the garnishment, but in the long run it will be better for us. We will be able to save our money again and eventually buy a home. To anyone that may be covered in debt I would suggest you get a consultation from an attorney and see if bankruptcy is right for you. It is not as scary as you might be thinking and to me, very well worth it if you have the stress that we have had. I did have to stop paying on everything and close out my old account. This is the only way we could get our paychecks back. But, Chapter 13 is a quicker process than chapter 7, once your fees are paid. The lawyer will send out letters to all of my creditors and stop the collection calls. I finally see a light at the end of the tunnel and a huge weight has been lifted off my shoulder. We actually laughed so hard this weekend, and just had fun. It's been along time since we have been able to do that.....:D

Hi Kristi...I did not see this before posting my previous replies. I think you've done the right thing. My husband and I filed Ch 13 about 15 years ago, then we bought a house, etc....so all is not lost! It will be okay, and you will own a home and be debt free. Unfortunately, we got into the payday loan thing more recently (sucks) but are working to get out of that too. Just sleep...and laugh!

Thanks! I did ask one more question on the other thread. Check it out and let me know what you think, please! Yeah, we feel confident, just a little ready to get the process going. We go on the 13th to pay the fees and file the papers. So hopefully after that the calls will cease and I will feel alot better. I could care less to have another loan in my life! LOL. It's going to take a fight to get me to sign anything. You really don't realize how good you have it until things are gone, and as soon as I got some of my hard earned money back when I quit paying everyone, it was the happiest feeling ever. I was terrified of the word BANKRUPTCY, but I know that this is what I have to do to be able to start over. Boy, have I learned a lesson. Thanks to everyone who helped me out. It was a livesaver. I will try to get on here as often as possible to help anyone else through the same process, if I can. What a diffrence it made. And to think, most of you are scattered all over the country. Yet, you are all pretty close to me. I couldn't have done it without yall!

:p
Kristi B
Texas