Legal in TEXAS??? what is the ramifications?
Date: Sun, 01/27/2013 - 11:22
The amounts I have:
Payday one 1100.00 paid 267.00 per pay check
Western sky 2000.00 paid 300.00 a month. 9 months
Bottom dollar 500.00 paid 150.00 pay check. I have paid for 3 months
Ace express I cannot remember the borrowed amount I pay 211.00 a month for 6 monthes. I have 2 monthes left
Spot loan 500.00 58.00 every 2 weeks. I have paid 5 months. I have to april to pay.
From what i am understanding is the PDL and CSOs are legal in Texas. If that is the case, am I just out of luck? I am going to close my account. What can they do to me if I do that?
I am tired of being in this mess, and scared of the ramifications. These pay day loans have taken over my life.
Thank you so much. On the
Thank you so much. On the western sky, I have heard horror stories about the tactics they use. My biggest fair is they will contact my employer. I have even read where they tried garnishing a person's wages. What would I need to do to make sure that does not happen to me?
Wow. Much thanks. I did not
Wow. Much thanks. I did not know that about those two payday loans. Going to close my account today. Have the ACH letters ready. First day to a better financial future.
Except Payday One and Ace
Except Payday One and Ace Cash Express, all the lenders are illegal in your state. You'll only have to pay back the principal amount on these loans.
The illegal payday loan lenders will call you several times after the account is closed. They tell you lots of stories and stuff.
You're required to make payments on the legal payday loans. So, make sure you inform the legal payday lenders about it. Give your new account details to the legal payday loan lenders after opening a new account.
Here is the thing: Western
Here is the thing: Western Sky, Bottom Dollar and Spot Loan are all illegal lenders. You only need to repay the principal, no interest or finance fees. From the looks of it, you are done paying on most of these accounts. I would recommend that you revoke ACH authorization in writing (a copy to the the bank and another copy to each lender) and then close your bank account. In case you have to repay the principal in part to any of them, use ONLY a money order or a prepaid debit card to do so. As for the PayDay One and Ace Cash, they are CSOs in Texas. You can call up their corporate office and ask for the EPP. Once the EPP comes into effect, the interest on the loans will be frozen and the balance of the account will be spread over 3-5 pay periods.
What makes the others illegal
What makes the others illegal in my state?
License, of course. Along with that Bottom Dollar is possibly offshore, somewhere in Malta or something and Spot Loan is tribal.
What makes the others illegal
What makes the others illegal in my state? I think it has to do with the licenses, bc what I read on the interest rates were fine. I want to get these letters out before the next series of monies come out of my account.
