Payday Loan Help in Texas/Security Check
Date: Sat, 01/16/2010 - 13:53
Submitted by Christopher Lombardo
on
Sat, 01/16/2010 - 13:53
Total Replies: 9
I took out an internet payday loan from goodtimescash.com on 12/3/08 for $300.00. I was a resident of Texas at the time. Goodtimescash deducted two payments of $90.00 from my checking account before I closed the account. They have now put on my credit report a charge off of $480.00. The creditor is Quasar Corporate Services out of Logan, UT. Ive called Security Check, LLC which is now known as Payliance. They refuse to reduce my balance by the $180 that was originally charged.
I have attempted to contact Quasar but I only have an address, no telephone numbers available. I even went so far to contact their registered agent Gary R Henrie who is an attorney, I was only given an address and name for Jeff Nelson.
I dont mind paying the $120 that is owed from my original balance, but I will not pay $480.00. Who can help me? What can I do?
First of all check to see if they are even licensed to lend in y
First of all check to see if they are even licensed to lend in your state, I don't think they are but here is the link so you can check, payday loan licensee data base:
http://168.39.159.59/default.asp
I would not admit to anything over the phone, tell them they need to send you a dunning letter (letter of collection) in the mail as required by the FDCPA, they have 5 days of which to send you this letter after thier first initial contact with you. If they aren't licensed to lend in your state, and I am quite sure the original credit, goodtimescash is NOT, then they do not have a legal leg to stand on and should be told they are attempting to collect on an illegal loan.
I did receive a letter from them back in September. I wrote the
I did receive a letter from them back in September. I wrote them asking what the balance consisted of and I never received a response. I guess with Texas, they can CSOs? or something like that...which is legal no?
Quote:Originally Posted by Christopher LombardoI did receive a l
Quote:
Originally Posted by Christopher Lombardo I did receive a letter from them back in September. I wrote them asking what the balance consisted of and I never received a response. I guess with Texas, they can CSOs? or something like that...which is legal no? |
Yes, CSO or Credit Services Organization model (unfortunately) IS NO LICENSING required by the state! CSO's are required to "Register" with the Secretary of State, they are NOT licensed, and their fees ARE NOT REGULATED.
If you CLICK HERE you can search the Credit Services Organization data base, but keep in mind that some lenders use dba names. You need to check and see if goodtimecash is listed as a CSO. If you received a dunning letter (letter of collection) back in Sept. you should have disputed it, there is a 30 day window of which to do that and request debt validation. However, if goodtimecash is not licensed as a payday lender (and they are not because I checked), and they aren't registered as a CSO, the entire thing is an illegal debt and can not be collected.
Well, I tried to post a repsonse but it didn't post, so, I will
Well, I tried to post a repsonse but it didn't post, so, I will try to respond to this when the forum is working.
If you CLICK HERE you can search the Credit Services Organizatio
If you CLICK HERE you can search the Credit Services Organization data base.
I'm sorry about double posting, for some reason my posts aren't
I'm sorry about double posting, for some reason my posts aren't showing up until after the fact.
Thank you Shazzers. I can't find the company name in the link p
Thank you Shazzers. I can't find the company name in the link provided. I have a feeling that theyre not licensed to do business in Texas. I did receive another dunning letter and I'm responding stating this debt is not legal and cannot be collected. I have also disputed this on my credit report with Equifax and the others. I hope i can get this resolved
Quote:Originally Posted by Christopher LombardoThank you Shazzer
Quote:
Originally Posted by Christopher Lombardo Thank you Shazzers. I can't find the company name in the link provided. I have a feeling that theyre not licensed to do business in Texas. I did receive another dunning letter and I'm responding stating this debt is not legal and cannot be collected. I have also disputed this on my credit report with Equifax and the others. I hope i can get this resolved |
Are they sending these letters via the mail or email? If they are sending it thru the mail then send them a debt validation letter certified return receipt requested, you can get a sample of a debt validation letter at the link below. Make sure you send it within the 30 day window of receiving it, that is very important! http://www.debtconsolidationcare.com/letters/
Thank you for all the assistance, I am sending the letter return
Thank you for all the assistance, I am sending the letter return receipt certified tomorrow.