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PDL Texas

Date: Mon, 12/03/2007 - 22:06

Submitted by anonymous
on Mon, 12/03/2007 - 22:06

Posts: 202330 Credits: [Donate]

Total Replies: 5


Help! I'm another lost soul with PDL's. Our dental office was bought out by another dentist. I'm on commission and my paychecks have been cut in half, So like a fool I took out a PDL when I started getting behind, thinking things would turn around and business would pick back up. It didn't, and now I have 3 PDL's which I'm going to have to default on. My check wasn't even enough to cover rent let alone any PDL's. I planned on closing my acct. but I have to wait for my truck note and rent check to clear which I hope they do before they try to run the PDL's Two of them I know I can stall for a couple of days but Im not sure about the third one. The three loans are storefront loans. 1= Check To Go; borrowed $900. It's $180 every two weeks I've paid it and reborrowed it so many times I've lost count. They let you pay the interest like 4 times and then you have to pay it, but you can turn around and reborrow it. So I've paid the $180 at least 8 times, probabby more. 2=Ace cash express owed $700. paid interest $140. 4 times, then paid it off and turned around and borrowed $800 owe $160. as of yesterday. 3= Kwik Cash; borrowed $700, the first time it was interest free, so this would have been the first payment at $140. I'm really worried they're going to start hassling me at work. So what steps do I need to take. I really appreciate your advice! Thank you for your advice! Deby S


deby, a lot of store fronts in Texas are operating as CSO's. Can you look at your loan documents and see if the three you have are operating as CSO's? I'm going to post Texas state pdl law; however, if they are CSO's, they do not have to follow the pdl law. They can pretty much "do what they want". Check your paperwork and see if it says anything on any of them about CSO, okay? In the meantime, I'll post your state pdl law. :D


lrhall41

Submitted by cannr on Tue, 12/04/2007 - 03:57

( Posts: 9317 | Credits: )


What is a cso? What do you think they will do? I was able to hold them off until today(Wed) told them I was out of state and would come in. So I hope my last 5 checks clear tonight and then in the morn I'm going to close my account. What should be my next step? I just got a new job, will start in two weeks, and hopefully I can climb out of this mess. This new job is going to help me get back on my feet, I should have left my old one 3 months ago! I know they're going to start calling me at work...what a nightmare! :(


lrhall41

Submitted by on Wed, 12/05/2007 - 22:44

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deby, are they already in default now? Have you checked to see if your paperwork on any of them say if they are operating as a CSO? Also, regarding closing your bank account (like you stated), the Texas law does not specify criminal action. You need to find out if it would be okay to close your bank account while you have checks out.


lrhall41

Submitted by cannr on Thu, 12/06/2007 - 04:25

( Posts: 9317 | Credits: )