Payday Loan Companies in Texas
Date: Sun, 06/12/2011 - 12:58
Hi, I have a payday loan through Cash Now located in Atlanta Texas. I got the original loan in Nov 2010 as a car title loan, I have been paying around 190.00 every month since and the amount was not decreasing. Last month I switched the title loan over to a payday loan and have now found myself unable to pay the full payment. I was told on friday that I must have an extra 50.00 plus the 120.00 payment by monday 6/13/2011 or they would deposit the checks that they are holding, of course there is not any money in my account. If I were to close my checking account and send the payday loan company a ceritfied letter telling them i can not pay the full amount due now nor in the future months but would pay no more than 75.00 a month beginning July 3, 2011 until i got the total amount of the checks paid off, can or what legal action can they take aginst me. Can they turn the checks in as theft by check or would they likely accept my offer. Mind you I have paid the total amount i got back plus more. In all I have probably have paid over 800.00 on a 500.00 loan. I am on a fixed income and just can no longer pay this loan. PLEASE HELP ME, I NEED AN ANSWER OR A SOLUTION BY TOMORROW 6/13/11 3:00PM. I just want these people off my back.
Any help or suggestions will be greatly appreciated.
Donna Anthony
Atlanta Texas
[FONT=Comic Sans MS]email removed[EMAIL="donrenant1263@hotmail.com"][/EMAIL][/FONT]
Any help or suggestions will be greatly appreciated.
Donna Anthony
Atlanta Texas
[FONT=Comic Sans MS]email removed[EMAIL="donrenant1263@hotmail.com"][/EMAIL][/FONT]
You shouldn't have switched your car loan to a payday loan. Payd
You shouldn't have switched your car loan to a payday loan. Payday loans are worst type of loans. Nevertheless, you should contact the Texas Office of Consumer Credit Commissioner in order to find out if the payday lender is licensed to operate in your state. If yes, then you will be liable for paying them the principal amount as well as the interest and fees. You should go for a payday loan consolidation in that case.
If you find that the payday lender is not licensed to operate in your state, then you should be liable for paying only the principal balance and nothing else. You should immediately pay them off their principal balance and get rid of the debt.
