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I got a store front payday loan about 4 months ago in ohio for 900.
Well, i couldnt pay back and then i sent the store a 50 dollar money order, they were real nice and accepted. Well, in the mean time that particular store closed and now i get a letter 2 months letter from the corperate office, legal dept. They set me up for 150 every two weeks in which i paid only once because i couldnt afford it..so now 1 month later, they are threating to sue. What should i do..they are saying pay in full or go to court. they said i broke my 150 agreement plan. Believe me if i had the money i would pay..they wont accept any thing lower. Should i go to a credit counselor? What are my options. Experienced people please help!




So how much do you actually owe them?

Sub: #1 posted on Sun, 07/27/2008 - 03:58

Lorri Lorri
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(Posts: 1721 | Credits: 224.67)

As Lori asked, how much did you actually borrow? Because the Ohio state law specifies a limit of $800.00, so if this store front loaned you that much money, they are in violation of the law. :?
[quote]
Ohio State Information

Legal Status: Legal (Applies to check cashers only)

Citation:
Ohio Rev. Code Ann. ???????? 1315.35 et seq.

Loan Terms:
Maximum Loan Amount: $800
Loan Term: Max: 6 months
Maximum Finance Rate and Fees: $10/$100 + 5% per month
Finance Charge for 14-day $100 loan: $15
apr for 14-day $100 loan: 390%

Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: None (cannot refinance)
Cooling-off Period:
Repayment Plan:

Collection Limits:
Collection Fees: Bank charges (if disclosed); $20 collection charge; Court Costs; damages
Criminal Action: Not Specified

Where to Complain, Get Information:
Regulator: Ohio Division of Financial Institutions
Address: 77 South High Street, 21st Floor Columbus OH 43215
Phone: (614) 728-8400
Fax:
Regulatory Contact: Robert M. Grieser,, Deputy Superintendent for Consumer Finance[/quote]

Sub: #2 posted on Sun, 07/27/2008 - 04:38

Shazzers Shazzers
Moderators Cum Industry Expert
(Posts: 17342 | Credits: 1592.85)

OH WOW. i BORROWED 800.00 BUT ENDING UP OWING 900.00, I MADE A ERROR. SORRY. i MEANT I ORGINALLY OWED 900.OO. I owe about 780 now, i CALLED AURITON SOLUTIONS, THANKS TO THIS WEBSITE. i DONT KNOW WHAT ELSE TO DO? tHEY ARE THREATENING TO START LITAGATIONS MONDAY MORNING. dO YOU THINK THEY WILL REALLY DO THAT OR IS THAT A THREAT. They wont work with me on a smaller payment, so do you think aurtion will be able to help.?
please advise
thanks so much
pat

Sub: #3 posted on Sun, 07/27/2008 - 04:51

pittn3 pittn3

(Posts: 4 | Credits: 1.71)

It sounds like you had wanted to pay this off at some point and showed good intent by sending the $50 money order, which was accepted.

When the store closed, did they give you any other locations or options at that time to continue to pay?

Sub: #4 posted on Sun, 07/27/2008 - 06:32

Unregistered


yes, they did give me the address to send it to, which was the corporate office. The corporate office contacted me first and set me up on a plan of 150 every two weeks. That was 1 month ago. I made one payment and the last two was unable to make. Now, the lady is not working with me, wont even take 25 dollars. Thats all i have! She is threatening litagation and garnishment on monday to start the paperwork.
thanks
pat

Sub: #5 posted on Sun, 07/27/2008 - 06:52

pittn3 pittn3

(Posts: 4 | Credits: 1.71)

They might actually sue you, but they are probably just threatening you. They can't take you to court on Monday because you have to be served with papers first. They could possible file suit on Monday, and your court date would be sometime after that (I'm not sure how long, but you would be given time to respond first). You could try just sending the money that you offered. Most likely, they will take your payment and keep harrassing you for more. If you are making regular payments of as much as you can afford, it is less likely that they will take you to court. Even if they do, if you show the judge that you are trying to pay it off, the judge will very likely just tell them to work things out with you.

Sub: #6 posted on Mon, 07/28/2008 - 02:34

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

Whatever you do try not to worry. Everything alias1958 has said is true. Remember to places like that company use threats like this knowing that the customer will panic and fall for it and hopefully send them money immediately. They don't count on you having brains to seek answers and find out that things don't happen instantaneously. Chin up!

Sub: #7 posted on Mon, 07/28/2008 - 05:24

Lorri Lorri
Moderators
(Posts: 1721 | Credits: 224.67)

have a pay day loan at patrick law firm in newyork paid 370 owe 137 they want 75 by thursday 31 injured noot working do not have 75 looked into salvation aemy, plasma donor, nothing of any value lost everything i had, car, furniture, and they investigated my 88 yr old mom and ex help!!!!!!!!!!!!

Sub: #8 posted on Tue, 07/29/2008 - 01:40

Unregistered


have a pay day loan at patrick law firm in newyork paid 370 owe 137 they want 75 by thursday 31 injured noot working do not have 75 looked into salvation aemy, plasma donor, nothing of any value lost everything i had, car, furniture, and they investigated my 88 yr old mom and ex help!!!!!!!!!!!!

Sub: #9 posted on Tue, 07/29/2008 - 01:40

Unregistered


have a pay day loan at patrick law firm in newyork paid 370 owe 137 they want 75 by thursday 31 injured noot working do not have 75 looked into salvation aemy, plasma donor, nothing of any value lost everything i had, car, furniture, and they investigated my 88 yr old mom and ex help!!!!!!!!!!!!

Sub: #10 posted on Tue, 07/29/2008 - 01:40

Unregistered


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