Payday Loan Disaster
Date: Thu, 12/23/2010 - 13:58
Internet payday lenders are illegal in your state. Do not pay a
Internet payday lenders are illegal in your state. Do not pay a debt consolidation company to do what you can do. It's good that you already have a new bank account. You need to revoke your ACH and wage assignments with your payday lenders. You will find the necessary forms on this site. Next file a complaint with the AG, FTC and BBB in your state and send each of them a copy either email, fax or mail. You are only responsible to pay for the principle amount of the loan borrowed. After you revoke your ACH provide a copy to your bank and for the wage assignment provide a copy to your payroll dept as well. Illegal lenders can't garnish your wages, but they will try and do a wage assignment. Some one else will come along and provide you with more advise. Hang in there!
[QUOTE]Internet payday lenders are illegal in your state. Do no
[QUOTE]Internet payday lenders are illegal in your state. Do not pay a debt consolidation company to do what you can do. It's good that you already have a new bank account. You need to revoke your ACH and wage assignments with your payday lenders. You will find the necessary forms on this site. Next file a complaint with the AG, FTC and BBB in your state and send each of them a copy either email, fax or mail. You are only responsible to pay for the principle amount of the loan borrowed. After you revoke your ACH provide a copy to your bank and for the wage assignment provide a copy to your payroll dept as well. Illegal lenders can't garnish your wages, but they will try and do a wage assignment. Some one else will come along and provide you with more advise. Hang in there! [/QUOTE]
No no no, Internet lender ARE legal in the state of TX as long as they are licensed by the state of TX. You really need to be more careful about giving advice, research it BEFORE you reply, thanks. I will return shortly with more information for the original poster.
Quote:I got involved in getting payday loans to pay for a bill a
Quote:
I got involved in getting payday loans to pay for a bill and then another payday loan to pay for another bill and now I had to get another payday loan to pay the interest on the 2 payday loans I had. It is causing great grief and now I am worse off financially then I started just paying the interest. I can not pay anymore they where internet loans. I have opened another bank acct and the current bank is given me a hard time about closing it so I will just rather pay the NSF fee for now then trying to payoff the loan. What should I do I am dealing with a payday loan consolidation company who is charging 375 just to send me the info to do it my self or they can handle for me they said but I will have to pay them 475 a month for 12 months which will be alot to pay also. Not sure if it is a scam any help. I live in TX |
Well, I can't really advise you without more information, the name of the consolidation company, the names of the payday loans, were they Internet or store front loans, did you default on the loans, how much did you borrow from each one, how much did you actually pay back?
I need the information above before I can proceed with any advice. :)
Quote:What should I do I am dealing with a payday loan consolida
Quote:
What should I do I am dealing with a payday loan consolidation company who is charging 375 just to send me the info to do it my self or they can handle for me they said but I will have to pay them 475 a month for 12 months which will be alot to pay also. Not sure if it is a scam any help. I live in TX. |