Help with Payday OK in Texas

Welcome to the community Luanne. We're here to help. Someone will be a long shortly to post your laws.

Hello. I am doing a little research for you on the Texas Laws and Payday Ok. If you type in Payday Ok in the search box on the top right of the home page you will find alot of threads on different experiences people have had with that company.

I joined this site 1 month ago and Im getting rid of my last PDL out of 6.

Don't worry you came to the right spot.

First off, breathe. It is going to be ok. Figure out exactly how much you have paid them for each loan and post it. We need to figure out the legal amount that you owe them and then we will go from there. :)

Hi Luanne! Welcome to the forum. I am assuming that Fidelis is a third party collector, correct? If so, send them a cease and desist letter and request that all correspondence be conducted in writing. Also, send them a debt validation letter. Everything is going to be fine, you just have to let them know you are in charge. :-)

Here are the Payday loan laws for Texas (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Figure out exactly how much you have paid to each pdl and let us know. We need to see if you have overpaid, according to your laws.

Payday OK may be a CSO in Texas, so the pdl laws wouldn't apply . . . . CSO means Credit Service Organization.

Sorry gang but it's Luanne703. Had to change my user ID because it wont let me log in or send me a new password and days have passed now. Thanks for everyone responding so fast!

Now, down to business. Both Payday OK loans are for $500. The first loan I can still log in and found that I have paid over $270 in interest and fees for this go 'round. The second loan, I have been locked out and can no longer view. I am sure I have paid at least the same or more in interest and fees.

I do beleive I have read that Payday OK IS in fact, a licensed CSO in Texas but what does that mean. Can they still charge me whatever they want???

Yeah, unfortunatly there is a Federal Law that states that fees charged by a CSO cannot be considered as interest. So, yes, if they are a CSO then what they are charging you is 100% legal. Crappy, but legal.

One thing about Payday OK though. They are pretty good about marking people paid in full when they have paid a lot on their loans. But since you still owe money on principle it wouldn't work for you.

This is wellsfamily1604, I can't remember my password, hopefully will find it in a minute!

This is the original letter I sent Payday OK

When the loan is legal, it is always best to set up payment arrangements with them. Fighting a legal company can end with you being sued. And since the company is legal, and what they are charging is within the laws, you don't really have anything to fight them with.