HELP PLEASE!!!
What state are you in? Did you take out loans with internet len
What state are you in? Did you take out loans with internet lenders or store front lenders?
Wow! Let me be the first to say that I understand what you are g
Wow! Let me be the first to say that I understand what you are going through right now. But please list your state and the payday lenders name. Also list the amount that you borrowed and how much you owe as of today. Depending on the state you live in you may be only responible for the orginial amount that you borrowed. If for some reason that you do have to file bankruptcy, please make sure that you get a good attorney that can advise you. I know that there will be someone here to help you soon. Good luck and God Bless.
REPLY
I live in Washington State and they are all storefront.
I owe (the fees are included)
Check into Cash $488.00
Advance America $595.00 - I did owe $795, but paid $200.00, they don't give you back your original check until the full balance is paid (I was on the payment plan).
Ace Cash - $795.00
Check N Go - $765.00
Cash Express - $287.00
Allied Cash - $575.00
Cash in a Flash - $787.00
Qwik Cash - $460.00
Fast Cash Loans - $565.00
RENT A CENTER - $575.00
I spoke to an attorney, she said I can't go to jail, but they may try to sue me. Any advise you can offer would be appreciated.
Well first of all I will post your pdl laws. The only advice I c
Well first of all I will post your pdl laws. The only advice I can really give you is this, if these lenders are members of the CFSA you would be eligible for the EPP plan, the thing is, you need to ask for this BEFORE you default, at least one day in advance of your next payment. How it works is after you request the EPP (Extended payment plan) you will signe new loan documents and pay off each of these loans in foru equal payments on each payday. I realize you have several payday loans here and you may not be able to handle all those payments, but store fronts will sue you, and they will also attempt to cash your post dated check which will result in NSF charges, so you could end up paying a heck of a lot more if you don't take advantage of the EPP plan. I happen to know that the rent a center IS members of the CFSA, but I'm not sure about the rest of them, you can always call each one anonymously and ask.
Whoops, I forgot to post your laws. :? Quote: Washington Stat
Whoops, I forgot to post your laws. :?
Quote:
Washington State Information Legal Status: Legal (Lender must have a small loan endorsement to their check casher license in order to make payday loans) Citation: Wash. Rev. Code Ann. ???? 31.45.010 et seq. Loan Terms: Maximum Loan Amount: $700 Loan Term: Max: 45 days Maximum Finance Rate and Fees: 15%: first $500; 10%: remaining portion of the loan in excess of $500 up to the $700 maximum Finance Charge for 14-day $100 loan: $15 apr for 14-day $100 loan: 390% Debt Limits: Maximum Number of Outstanding Loans at One Time: A company cannot hold a check or checks in an aggregate face amount of more than $700 plus allowable fees from any one borrower at any one time. Rollovers Permitted: None (cannot repay loan with proceeds of another) Cooling-off Period: Repayment Plan: A company and a borrower may voluntarily enter a payment plan at any time. A borrower, however, has a right to convert a small loan to a statutory payment plan after four successive loans and prior to default on the last loan. Collection Limits: Collection Fees: $25 NSF fee (one time per instrument); collection costs (excluding attorney's fees, interest and damages) Criminal Action: Prohibited Where to Complain, Get Information: Regulator: Washington Department of Financial Institutions Address: Division of Consumer Services, PO Box 41200 Olympia WA 98504 Phone: (360) 902-8700 Fax: (360) 725-7827 Regulatory Contact: Chuck Cross,, Director of Consumer Services Regulator Website |
Victoria - are these all PDL's or are they installment loans?
Victoria - are these all PDL's or are they installment loans?
Shazz - in reading the WA laws, am I reading this to mean that the total amount of the PDL's cannot exceed $700? If so, then is the OP in compliance (because her loans are more than the $700)?
Submitted by desperatelyseekingsanity on Fri, 08/22/2008 - 10:14
They are all pdl's - I borrowed, $700 from 2 and the fee is $95.
They are all pdl's - I borrowed, $700 from 2 and the fee is $95.00. Thanks again for your help. I just read the blog about the person's brother who was arrested and now I am in a panic all over again. I did speak to an attorney and she said you cannot go to jail for putting stop pays on a pdl - boy I hope she is right!
Seems to me, in reading your state laws, that you are only allow
Seems to me, in reading your state laws, that you are only allowed to have 1 loan out at a time up to $700 max. The fact that you have several, makes me curious if the others are technically legal.
I am not 100% sure about this. Can someone here please help?
Submitted by desperatelyseekingsanity on Sat, 08/23/2008 - 10:29