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18 PDL in California - Please help to determine next step

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I was about ready to sign up for PDL assistance before I found this forum. Here are all my PDL (California):

1) Discount Advances (internet): $810.00, paid $1415.01
2) CashNet USA (internet): $255 renewed 5X
3) AAApayday Cash (internet): $300, paid $75.00 each month in interest for 5 months
4) Check-into-Cash (internet): $255 renewed 5X
5) Check-n-go (internet): $255 renewed 3X
6) Cash Central (internet): $255 renewed 3X
7) Loan Mart (internet): $255 renewed 4X
8) Payday One (internet): $260.00
9) National Money Store (internet): $500.00
10) Check City (internet): $255.00
11) Advance Payday (Store Front): $255.00 renewed 3X
12) Advance America (Store Front): $255.00 renewed 2X
13) Speedy Cash (Store Front): $255.00 renewed 5X
14) California Budget Finance (Store Front): $255.00 renewed 8X
15) Cash Stop (Store Front): $255.00 renewed 3X
16) Payday Express (Store Front): $255.00 renewed 4X
17) Cash Back (Store Front): $255.00 renewed 4X
18) Cash-n-More (Store Front): $260.00 renewed 4X

All the $255 and $260 loans have a due amount of $300. All the loans are in default since 07/03 and I have closed all the checking accounts. The owner of Cash Stop made a unexpected stop at my office and threatened to "embarrass" me and my co-workers if I did not come out and talk about the check that will not go thru my bank account. I have received a certified letter from Payday Advance at work. Both of the two PDL stores are small mom-pop stores and I actually feel bad for them. The owner that was suppose to "embarrass" me in front of my co-workers actually started crying and saying how bad her business was. I don't know if it was for a show or not. Anyways I have called both PDL assistance and Langhorne. Longhorne will not help settle the store front loans. I know I can settle all the PDL myself and the best method is to be in contact will all the companies. However with the two debt settlement companies, I can stretch the payment to 12 months. What can I expect if I did everything on my own. Thanks!!!!!




Try T & C. (Town and Country Acceptance Corp.) You can find info on this site. I use them and so far so good. Hang in there! You sound like you could use a lot of help!

Sub: #1 posted on Sun, 07/20/2008 - 00:25

kporter90 kporter90

(Posts: 58 | Credits: 9.93)

Welcome! Hang tight, and I'm sure that someone will be along soon who can advise you on your situation. I know that I read a recent thread of someone who was very unhappy with Langhorne, and most people here seem to feel that they can get better results on their own than by hiring someone else to do it for them.

Sub: #2 posted on Sun, 07/20/2008 - 00:26

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

Welcome! I am also in California and Langhorne was indeed able to help me with my storefronts. I had 10 pdls and am now PDL-free, so it can happen. Hang in there.
First things first. You need to deal with these storefronts before the internet ones. The reason is that they are licensed to do business in California and could possibly take you to court.
Looking at your list, it looks like you probably paid fees of $45 each time you renewed..(loan amounts look like mine used to.. :D ) I am only familiar with Advance America on your storefronts list and know that they are indeed in the CFSA, which means they offer an extended payment plan, where you can pay the loan back over 4 payments. If you've already defaulted, this won't help, but if you haven't, I would definately start the paperwork.
Now even though a storefront is usually licensed, this doesn't mean that they don't have to follow other laws--and making an unwelcome "housecall" at your work is CLEARLY against California law. If it was me, when you are negotiating with them and they give you pushback, I would strike the following bargain: if they continue to harass you, you will file claims with the Dept of Corporations and the AG's office. Let Jerry Brown know about it! If they don't want that to happen, they need to play ball and work with you.
Now on to your internet ones. Per California law, the max that can be loaned in a PDL is $300, which is why most are actually for $255, less the $45 fee. The ones over the net for $800 and $1500 are clearly illegal.
I would also go to the Dept of Corporations website and check licensing status on each internet one--and chances are, most are unlicensed. This means that all you legally owe is what you borrowed--and not a penny more.

Sub: #3 posted on Sun, 07/20/2008 - 08:59

kscornell kscornell
Moderators
(Posts: 4409 | Credits: 473.19)

ks has given you some good advice. Being in California also gives you an edge on this. Follow the steps given by those on the board and you will find a way out of this. Many have done this themselves and some have used outside help. The choice is yours but I would at least consider the possibility of doing this on your own. After you know exactly what you are dealing with you will better be able to figure it out. Keep us posted.

Sub: #4 posted on Sun, 07/20/2008 - 21:38

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

oopsy. . let me clarify . . .being that ks is in California, gives you an edge in this situation. Didn't mean to imply that California was "easier" than others.

Sub: #5 posted on Sun, 07/20/2008 - 21:41

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

Thanks for all the advise. I just want to give an update. I have talked to most storefronts and internet that are legal in California. They are willing to arrange payments from dividing the outstanding balance into 2 to 5 payments. The only thing they will only work with people being paid twice a month. I actually get paid once a month and they are not willing to drag out the payments to 2 to 5 months. Most of the storefronts/internet mentioned that they will NOT work with debt consolidation companies. Instead they will send the account to collection or small claims court. I cannot afford to pay the 15 companies $2400 per month. Any suggestions?

Sub: #6 posted on Tue, 07/29/2008 - 02:26

getmoneynow getmoneynow

(Posts: 2 | Credits: 1.08)

They all to a company say that they don't work with consolidation companies, but if they accept and cash your checks then they have accepted your proposal. What companies specifically are legal in California? There were only a few that I saw on that list that could've been even close to being legal. Remember: the legal amount of a PDL in California is only $300. As long as none of these loans were installment loans, which means that they are backed and funded by a bank, then they are illegal loans and all you owe them is what you actually borrowed.
For example, Discount Advances, which was $810 and National Money Store, which was $500, are way over the legal amount. Did you ask Advance America about the EPP?

Sub: #7 posted on Tue, 07/29/2008 - 06:45

kscornell kscornell
Moderators
(Posts: 4409 | Credits: 473.19)

1) Discount Advances (internet): $810.00, paid $1415.01 Illegal
2) CashNet USA (internet): $255 renewed 5X Legal
3) AAApayday Cash (internet): $300, paid $75.00 each month in interest for 5 months ? There is a AAA with an active license, but I dont' know if it's this one.
4) Check-into-Cash (internet): $255 renewed 5X Legal
5) Check-n-go (internet): $255 renewed 3X Legal
6) Cash Central (internet): $255 renewed 3X Legal
7) Loan Mart (internet): $255 renewed 4X ? There is a Loanmart with an active license, but I dont' know if it's this one.
Payday One (internet): $260.00 Legal
9) National Money Store (internet): $500.00 Illegal
10) Check City (internet): $255.00 Legal
11) Advance Payday (Store Front): $255.00 renewed 3X Legal
12) Advance America (Store Front): $255.00 renewed 2X Legal
13) Speedy Cash (Store Front): $255.00 renewed 5X Legal
14) California Budget Finance (Store Front): $255.00 renewed 8X Legal
15) Cash Stop (Store Front): $255.00 renewed 3X Legal
16) Payday Express (Store Front): $255.00 renewed 4X Legal
17) Cash Back (Store Front): $255.00 renewed 4X Legal
1 Cash-n-More (Store Front): $260.00 renewed Legal

Sub: #8 posted on Tue, 07/29/2008 - 19:33

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

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