Payday Loans in Texas

Texas is known to have payday loan companies acting as CSO's (Credit Service Organizations). This means they do not need to be licensed, and are generally 100% legal in what they charge.

Quote:

ameriloan is not licensed anywhere in the U.S.
3531 P Street NW Miami, OK 74355
Phone 800-362-9090

United Cash Loans are part of MNE and are not licensed anywhere.
UCL (800) 279-8511
3531 P Street, NW
PO Box 111
Miami, OK 74355

Sandpoint Capital Payday loans ( I could not find them in the CSO data base in Texas)
Fax 817-335-1100
800-708-4342

JD Marketing??? I'm not sure about this one.

Paydayone is usually licensed everywhere, probably a pdl.

B I G Payday Unlicesned/illegal
1005 Terminal Way STE 102
Reno, NV 89502-2179
Telephone: (877) 282-5450
Fax: (877) 762-7350
big-int.com

Money and More I'm not familiar with this one.

I hope the information below will help you. :)
You are only obligated to pay back the principal amount you borrowed from an unlicensed/illegal Internet Payday Lender.

[quote]What should you do?
Close your account asap, if you are unable to close your account, go into your bank and ask to speak with the Branch Manager, tell him/her you need a hard debit block placed on your account immediately! Explain that you are revoking ACH authorizations from unlicensed/illegal companies, and have learned these companies are notorious for ignoring revocation, therefore it is important to BLOCK any withdrawal attempts on your account to protect your interest. This is your privilege, do not accept no for an answer. The following link will provide you important information regarding closing accounts. CLICK HERE

What next?
AFTER your account is secure send each pdl (the unlicensed and illegal) an email similar to THIS (please scroll down to locate letter template). Tailor this letter to your needs, and try to write it with the same basic concept in your own words. You will need to research and locate email addresses/physical addresses if you don't already have them, I suggest that you type the name of the pdl (example: "oneclickcash address") in the search box in the upper right hand corner of this forum. You may also search for addresses HERE at the Better Business Bureau.

File complaints: Most of the time, you can file a complaint online with the following, I encourage you to follow through with doing so, you will need to search the Internet for your state Attorney General's website, however, here are links to file complaints for the FTC, Online complaints: Federal Trade Commission., and the BETTER BUSINESS BUREAU.

Keep in mind that you may not receive a response for days, or even weeks, or, you may receive harassing and threatening phone calls. I have found the best way to deal with this is not to respond or reply, simply hang up.

Side note: If you have paid an illegal/unlicensed payday lender above and beyond the principal amount you borrowed, it might be a good idea to demand a refund and a paid in full letter/receipt. You may or may not get one or both. It still doesn't hurt to include that tidbit in your letter. :)[/quote]

This helps! So what should be my first steps?

lynnze read the steps above on how to proceed.

Thanks so much!!! The two that you did not find information for, how can I look them up? Also, if anyone else is reading this and have done business with any of the ones I have listed, how was the experience?

Also, for the legal one, will it also work with me? What type of letter do I send paydayone?

My experience with Paydayone wasn't too awful bad, just explain to them you are having a financial hardship and need reduced payment option.

Do anyone know if PayDay One & Magnum Cash Advance legal internet payday lenders in Illinois, I looked them up on the IL Dept. of Financial Institutions and I did not see their names does that mean they are illegal in my state and that I only need to pay the principal amount? I do have 2 storefront payday loans and I know they are legal cause their license was found on the site.

Payday One is legal, I think that Magnum Cash is licensed in Delaware but I'm not sure about IL. You might try calling the Dept. Of Finance in IL. to find out for sure.

Ok thanks, so PayDay One is legal in IL so i will need to pay the interest and fees for them. I will have to check on Magnum. Do you suggest that I still send all the PDL's Wage & ACH Revocation letters even though I have signed up with Town and Country and they are going to work with them from now on.

Shazzer - Can you find if these pdl's are legal in Texas for me as well..
Arrowhead
Cardinal
Huskhawk
Instantloansnow
Loan Shop Online
M1YDirect
SJM Marketing.

If you're signed up with T&C, yes, I would send at least a wage assignment revocation and probably both, they will most likely honor it as they tend to follow the laws.

livengrace, CLICK HERE to make sure none of those lenders are CSO's (Credit Service Organizations) and I will check on the legality. :)

I have entered all their names and nothen came up not even paydayone but i know that they are legal with the cso so do i need there file number as well or just type in there name and see what comes up

Arrowhead Investments (Illegal/Unlicensed)
PO Box 415040
Kansas City, MO 64141

Cardinal Management? I couldn't find any info on this company, not even at the BBB, this leads me to believe it isn't legal, although I'm not sure, so please keep checking back, perhaps someone else may have info on them.

Huskhawk Group - (Illegal/Unlicensed)
Fax: 866-791-8974
Phone: 866-568-5559

Loan Shop
E-Care/Sonic Payday/Cash Transfer Centers/Loan Shop/Northway Credit (these are all one company and all illegal)
13696 104th Avenue
Surrey, BC Canada V3R 1V9
phone: 1-866-958-3278
fax: 1-866-809-4069
email: customercare(at)cashtransfercenters.com

M1Y Direct (Unsure, I am leaning toward legal)
7473 W. Lake Mead Road
Las Vegas, NV 89128
FSM Processing
10108 Summer Oak Lane, #103
Las Vegas, NV 8913


SGQ Processing ( I don't think they are legal, hopefully someone can confirm this)
info(at)sgqprocessing.com
appinfo(at)thebmggroup.com
Phone - 877-287-3428
Fax - 877-287-3429

Instantloansnow is a new one on me, I can't find hide nor hair of them, anyone else with info on this company please post it here, we need to know if this company id operating legally and the address! THANKS!!

So all i have to do is send them a letter stating that i will only pay the princial.. what do i do if they have already sent it to a collection department called Phoenix debt management..are they legal to collect for those companies..I have read the letter templet that you have written on some of your other post..what happens when it reached a collection agency like that one do i just sent the payments into them

PHOENIX debt management is a joke as far as I have read from other members of this forum, my personal opinion, I wouldn't send any money to anyone other than the original creditor, and it would be with money orders only, therefore, it would be up to these lenders to provide me with a valid physical mailing address, if not, then no payments would be made. Oh and, I would put that in writing to them, for future reference, just in case they decided to do a loopty loo and attempt to sue me. :)

Name: PHOENIX debt management
Phone: (816) 423-5796
Fax: (816) 413-9000
Address: 7007 NE Parvin Road Suite 3
Kansas City, MO 64117

So since i live in Texas there is nothen that they can do to me other then report it on to my credit.

Hi, This is lynnze, I just registered. I want to go ahead and send out the letters but I am scared to send them. What if they tell me that they are legal? Also, what kind of letter do I send the ones that are legal or not sure of their status.

Watch out for sgq processing payday loan company.