CashNetUSA and CashCentral/TLC

They may be operating as a CSO in Texas. Shazzers might be able to answer this for you,

That was me Kstaff sorry about not logging in.

That's all right. Could you do me a favor and glance at the other thread? There are a couple of questions I had and I'm not really sure the protocol around here. Do I need to start new threads with new questions or can I stick to one thread?

Jen

I did an extended payment plan with both companies but I live in Arizona. Hopefully someone will be along to help.

WebPayDay
P.O. Box 3109 #15050
Houston, TX 77253-3109

This is the address on the website I dealt with. I just want to make sure this is the same company Shazzers said wasn't legal in any state.

Both of these entities are operating as CSO's in Texas and do not have to allow the EPP as recommended by the CFSA. THE CFSA governs pay day lenders and since they are not operating as a PDL in Texas, but rather a CSO, no CFSA governance.

Try to work out some other arrangements....

I know this might sound crazy but you may have to default before they will set up payment arrangements or have you already defaulted?

Also start a new thread with your question, it is easier than digging through old posts.

I haven't defaulted yet, but depending on what happens with the storefronts, there are only so much I can afford to pay CashNet and CashCentral before I run out of money to live on. I got into a situation where my rent was a week late because I didn't have the money for it. That was with my biggest payment (128 WebPayday) not going through too.

I'll make a new thread, but since I had like ten separate posts in the last one with new questions, I don't want to be a big pain with a thousand different threads.

Cash Central and CashNetUSA are operating as CSO's in Texas (Credit Service Organization), therefore the payday lender laws do not apply to them.

Basically, a CSO or Credit Services Organization is defined by the Texas Credit Services Organization Act (Section 393 of the Texas Finance Code) as an entity or person that provides one of the following services:

*Improving a consumer's credit history or rating
*Obtaining an extension of consumer credit for the consumer
*Providing advice or assistance to a consumer regarding the previous two services

Please bear in mind the CSO or Credit Services Organization model (unfortunately) IS NO LICENSING required by the state! CSO's are required to "Register" with the Secretary of State, they are NOT licensed, and their fees ARE NOT REGULATED.

If you CLICK HERE you can search the Credit Services Organization data base, but keep in mind that some lenders use dba names.

Okay. I just wanted to clarify that. Is there anything on here about how to navigate through the FTC complaint assistant by any chance?

Jen

CLICK HERE and follow the steps. :)

Well, it looks like I'm going to end up defaulting on both of them and entering collections. I did speak to CashCentral and they've told me that all I owe is the principal and the finance charge though. We'll see how that turns out. Thanks for the responses though. It's a relief to have so many knowledgeable people available to have their brains picked. :)

Jen

Jen,

I had CashNetUSA and yes, you have to default with them first then they will work with you once it is in collections. They had me pay in three installments via Western Union. I couldn't close my bank account, so I went into the bank and had them blocked, so they couldn't touch my account.

They were fairly easy to work with.

Thanks julie_1972. It's always a relief to hear that there ARE companies willng to work with you.

Jen