3 PDLS NEED IMMEDIATE HELP

Date: Sun, 11/04/2007 - 08:37

Submitted by anonymous
on Sun, 11/04/2007 - 08:37

Posts: 202330 Credits: [Donate]

Total Replies: 3

i have 3 payday loans out and for numerous months i have been breaking myself trying to pay them back . I have lost nearly everything i own trying to pay these people back. recently it came to a point to where it was either feed your kids or pay them back and i chose the obvious. now i am receiving threatning calls because i have not replied to them becasuse i am afraid to tell them i am still currntly not in a position to pay them back. I want to answer their calls and work something out but i know they wont work it out with me, what can i do because i dont even know where to begin looking for the texas state law about this sort of thing, please can someone help me out!!!!!!!!!!!!!!

reply

Dee, hang on! We can help you! :D Don't dispair! First of all, let me ask you if your pdls are storefront or internet? Big difference. In the meantime, I'm going to look up Texas pdl law for you.

lrhall41

Submitted by cannr on Sun, 11/04/2007 - 08:47

( Posts: 9317 | Credits: )

reply

Texas State Information

Legal Status: Legal

Citation:
7 Tex. Admin. Code ???? 1.605; Tex. Fin. Code Ann. ???????? 342.251 et seq. and 342.601 et seq.

Loan Terms:
Maximum Loan Amount:
Loan Term: 7-31 days
Maximum Finance Rate and Fees: $10 per loan + 48% annual interest
Finance Charge for 14-day $100 loan: $12
apr for 14-day $100 loan: 309%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (if renewal charge is less than maximum interest rate permitted; otherwise convert to declining balance installment note)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Texas Office of Consumer Credit Commissioner
Address: 2601 N. Lamar Blvd. Austin TX 78705
Phone: (512) 936-7600
Fax: (512) 936-7610
http://www.occc.state.tx.us/

lrhall41

Submitted by cannr on Sun, 11/04/2007 - 08:50

( Posts: 9317 | Credits: )

Can you list the companies you are dealing with? Texas is notor

Can you list the companies you are dealing with? Texas is notorious for it's pdl's hiding as CSO's. That way they can legally evade any consumer protection laws put in place.

lrhall41

Submitted by goudah2424 on Mon, 11/05/2007 - 07:00

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