I am overwhelmed with payday loans and am in default.
Date: Sat, 11/22/2008 - 13:40
On line pdl's-
Arrowhead $300/$90 per pay period
Centurion $200/$60
Crown Lending $200/$60
Rapid Cash/$466.25
Money Tree/$607.50
DepositMycash/$506.00
Nationwide/$540.00
Cashnet/$244
Store Front:
Cash Oasis$480/$80 per pay period
EasyMoneyGroup-$420/$70 per pay period
US Auto/Title Loan-$721/$130 once a month
Dollar Loan Ctr-$1200/$42 per week
I am in Nevada. Should I try to consolidate? File bankrutpcy. Any assistance or guidance is appreciated.
I wish I could help but I don't know about Nevada laws. i am su
I wish I could help but I don't know about Nevada laws. i am sure someone will be around to help though :)
This board has helped be take care of these by myself and I am so grateful!
Is your bank account secure?
Nevada requires Internet based pdl's to be licensed by your stat
Nevada requires Internet based pdl's to be licensed by your state. CLICK HERE to search the Nevada licensee data base to see if any of your lenders are licensed in your state. :)
Quote:
Nevada State Information Legal Status: Legal Citation: Nev. Rev. Stat. 604A.010 et seq. Loan Terms: Maximum Loan Amount: 25% of expected gross monthly income Loan Term: Max: 60 days Maximum Finance Rate and Fees: Not Specified (After default: interest rate must be equal to or less than the prime rate at the largest bank in the State of Nevada plus 10 %) Finance Charge for 14-day $100 loan: No Limit apr for 14-day $100 loan: No Limit Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified Rollovers Permitted: Not Specified (Lenders cannot extend payment period beyond 60 days after expiration of initial loan period) Cooling-off Period: Repayment Plan: Yes Collection Limits: Collection Fees: $25 dishonored check fee (max. two fees for insufficient funds; max. one fee for closed account) Court Costs; Reasonable Attorney's Fees; Service of process costs Criminal Action: Prohibited (Unless customer acted with criminal intent) Where to Complain, Get Information: Regulator: Nevada Financial Institutions Division Address: 2785 E. Desert Inn Rd., Suite 180 Las Vegas NV 89121 Phone: (702) 486-4120 Fax: (702) 486-4563 Regulatory Contact: , Supervisory Examiner Regulator Website |
My suggestion for the store front lenders is to request the EPP
My suggestion for the store front lenders is to request the EPP (extended payment plan), if any of these store front lenders are members of the CFSA they are required to follow the guidelines set, the EPP is a part of those guidelines, this will allow you to pay off these loans in 4 equal payments on each payday. You must ask for this plan BEFORE you default though.