Texas PDL Help
Date: Fri, 09/28/2007 - 04:38
I live in the state of Texas
I have 4 payday loans, it seems like a never ending story
1. Paydayok loan -amount 500.00 - payed so far -this a internet loan - i have had this loan since 5/18/06 and have refinanced lots of times.
ameriloan- amount $250.00 - payed so far 300.00 in just interest - internet loan- to pay off it is $ 325.00
discount advances - amount $300.00 - payed so far in just interest $93.75 - internet loan - to apy off $352.50
have one with loanshop/douglas not sure on this one.
plese help me and let me know what i can do and what i cant do.
Thank YOU
SDY
Welcome to the forums. Here are the Payday loan laws for Texas (
Welcome to the forums. Here are the Payday loan laws for Texas (just select your state),
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
You have legally paid off at least two of your loans according to the laws of your state. Yours is a tricky situation because you can be prosecuted if you close your account and they can prove fraud. What I would do is open a new account and tell the storefronts of your intentions. Then close the other account so that the IPDLs can't debit it anymore. Then send a certified letter to the IPDLs stating that you have overpaid them according to the laws of your state. You can get their addresses off the BBB website. Be ready for some very annoying calls. Payday OK and ameriloan are both unlicensed companies so all they can do is threaten you. File complaints against them with the Attorney General and the BBB and also the FTC if they harrass you. Also with the regulatory agency listed in the laws above. You will have to make payment arrangements with the others.
With Texas PDL's you have to be careful that they aren't operati
With Texas PDL's you have to be careful that they aren't operating as CSO's. Texas is full of CSO's . . . CSO means Credit Service Organization. Payday OK may be a CSO, some of it's sister companies are, and if that is the case they would not have to follow pdl laws.