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pdl help in texas please!!

Date: Fri, 12/29/2006 - 23:48

Submitted by anonymous
on Fri, 12/29/2006 - 23:48

Posts: 202330 Credits: [Donate]

Total Replies: 6


I need any all help I can get. I've had a pdl call me at work and demand the contact info for my payroll dept so they can garnish my pay. They wouldn't tell me any info as to what company they were with (as I have 4 pdl out) they only said that they will be getting a hold of my HR dept & payroll dept with or without my help (after I refused to give them the info) But they seemed to know enough about me (name my ss# address & such) to make me believe this. Can they do this in Texas? I'm afraid they will take everything & I won't be able to pay my rent. I don't want to be surprised by my paycheck one day. I've already closed & changed my bank account. I just don't want to explain this to my employer - it would not be tolerated. Can anyone tell me what to do in Texas please- I'm desperate & afraid


lc1717 -

First, you cannot have your wages garnished over the phone, so put your mind at ease about that. This company cannot just call your HR department and garnish your wages.

Second, can you provide us the following info so we can help you?

-names of the payday lenders
-original amount of each loan
-amount you have paid on each loan
-whether they are online or storefront loans

With this info, we can provide you some tips for handling these companies and getting your loans paid off and marked paid in full so these companies will stop harrassing you.

Here's the Texas Payday Loan Law Info:

Quote:

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


If you will give us the info on your payday loans, we can help you find out if they are licensed in Texas, and how much you need to repay to get them off your back. Our hope is that once you come through this situation, you'll say no to payday loans forever!

Also, since you've registered, a debt counselor will be calling you for a free consultation. You may choose to use their services, or contine to handle your debts on your own.


lrhall41

Submitted by SUEBEEHONEY70 on Sat, 12/30/2006 - 05:40

( Posts: 4583 | Credits: )


In TX the payday loans have found a loop hole. What they do is regiter with a finacial institution that is licensed in TX and get around the having to be licensed. What you have to do is call your sec of state and see if they are registered with any finacial intitution in TX.


lrhall41

Submitted by aaronmedres on Sat, 12/30/2006 - 07:29

( Posts: 59 | Credits: )


Sorry for the delay in getting my info together. I appreciate everyone's help. I don't feel as alone & overwhelmed. Here are the companies I have pdl out on.
PaydayLoan OK, CashNet USA, OneStep Cash -- I think I may have one more but I can't seem to get the company's real name so I'm not sure. In the meantime does anyone know about any of the above companies? I????????ll take all the info & help I can get. Again thanks to everyone for the guidance it is truly appreciated.


lrhall41

Submitted by on Wed, 01/03/2007 - 22:38

( Posts: | Credits: )