Need advice and help
Date: Wed, 08/10/2011 - 17:17
i have been reading and trying to figure my way out of the mess i created. i am in texas i have 4 internet loans.
i went to the bank and we put stop pymts on all of them as i am positive 3 are illegal and i have over paid at least one. please review and if you know if any of these are illegal in tx. i cked the cso in tx and only found cashnetusaas registered but unsure about plain green as its a installment loan. i have the following:
nls sign my loan got 500.00 paid 101.00 x 4 times
cashnet usa got 1150.00 paid 4 pymts no more roll overs calling them to work the remaining at pymts
us fastcash borrowed 500.00 paid 800 back so far
plain green borrowed 800.00 paid 263.61
all loans are current till next week and the stop pymts hit.
do i need to send a ahc stop letter and then what?
any help appreciated as well as tx law i cant seem to locate.
thanks
mel
Hi meli, As per Texas laws, payday lending is legal in Texas.
Hi meli,
As per Texas laws, payday lending is legal in Texas. While I was going through the forums, I found this page which will let you know which of the payday lenders are licensed to operate in your state: http://www.debtconsolidationcare.com/paydayloan/firstcapitalmoneycenter.html .
Unfortunately, those payday lenders who are licensed in your state will demand the full payments from you including the interest charges and fees. In that case, debt settlement will be the option to go for. However, if some of your payday lenders are not licensed to operate in your state, then in that case, you should pay them only the principal amount. As far as laws regarding Texas pdls are concerned, check out the given page:
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html .
Take care.
you need to close your bank account...illegal lenders will find
you need to close your bank account...illegal lenders will find ways around stop pays.
You can get information from the Texas Office of Consumer Credit
You can get information from the Texas Office of Consumer Credit Commissioner to know whether or not pdl companies are licensed to operate in your state. If you find that the lenders are not licensed and you have paid them more than the principal amount, then ask them for the refund. Illegal payday lenders can???t take any legal action against you. Check out the given page to understand how to deal with illegal lenders:
http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html
oh boy
SOAPLADY is absolutely right.the three illegals will find a way around stop payments.see the manager again,or if you haven't see them and get that account closed asap.yes the three except for cashnet are illegal as all get in every state,not just texas so again close that account.btw i'm growing tired of the stepford wives posting of generic info after everything has been established.i'm referring to the post above mine.ridiculous.
