Debt Consolidation Forums Payday Loan help forums

Payday Loan Steps to get out

member profile picture
Posts: 3
Credits: 66.2
[Donate]

I live in Texas and currently have 5 pay day loans and 1 loan in collections.

Cash Central- 1288.00

CashnetUSA - 2152.00

Big Picture Loans - 780.00

Cash Factory - 280.00

SpeedyCash - 1905.00

Collections:

Rise Credit - 2104.00

I have been just paying the refinance fees

What are the first steps I need to take to resolve this?
From reading it seems as though I should revoke ACH authorization and contact the lenders themselves and ask to settle the debt. I have paid thousands of dollars to these people and would like to stop the cycle.




Sub: #1 posted on Sat, 01/20/2018 - 22:41

galaxxyboy_2018 galaxxyboy_2018

(Posts: 1 | Credits: 0.1)

Talk with the bank manager for this problem.

Sub: #2 posted on Fri, 01/19/2018 - 18:26

sanderspatricia29 sanderspatricia29

(Posts: 534 | Credits: 56.24)

Hi Mike,
Please check this - https://forums.debtcc.com/paydayloan/trieddoing-achrevocation.html, I think this may solve your query. :)

Thanks

Sub: #3 posted on Fri, 01/19/2018 - 12:21

tiarajoseph11 tiarajoseph11

(Posts: 261 | Credits: 38.23)

(c) Consumer's right to stop payment--(1) Notice. A consumer may stop payment of a preauthorized electronic fund transfer from the consumer's account by notifying the financial institution orally or in writing at least three business days before the scheduled date of the transfer.


You need to go to the bank for ACH revocation. Did you go to the bank?

Sub: #4 posted on Thu, 01/18/2018 - 16:50

SC SC
Moderators
(Posts: 3888 | Credits: 393.74)

All but CashnetUSA have honored the ach revocation. CashnetUSA says they cannot release the ach agreement without another form of payment. I believe this is illegal according to the thread about ach revocation?

Sub: #5 posted on Thu, 01/18/2018 - 10:38

Mike Mike

(Posts: 3 | Credits: 0.66)

That's better,

Sub: #6 posted on Tue, 01/16/2018 - 16:47

sanderspatricia29 sanderspatricia29

(Posts: 534 | Credits: 56.24)

Okay. Keep us updated.

Sub: #7 posted on Tue, 01/16/2018 - 16:40

SC SC
Moderators
(Posts: 3888 | Credits: 393.74)

Well I sent the emails and letters. I will post what happened.

Sub: #8 posted on Tue, 01/16/2018 - 04:57

Mike Mike

(Posts: 3 | Credits: 0.66)

Cash Central and Speedycash both are legal in Texas. Cash Factory USA is also licensed as a Credit Access Business (CAB) in the State of Texas.

Sub: #9 posted on Mon, 01/15/2018 - 11:47

tiarajoseph11 tiarajoseph11

(Posts: 261 | Credits: 38.23)

Pay only the principal amount to the illegal payday lenders. Talk to the legal leaders for an extended payment plan (EPP)

Sub: #10 posted on Thu, 01/11/2018 - 18:25

sanderspatricia29 sanderspatricia29

(Posts: 534 | Credits: 56.24)

Attachment
More information
  • Files must be less than 1.25 GB.
  • Allowed file types: txt pdf jpg jpeg png.
Post as a guest
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Post as a member

Share post

Page loaded in 1.324 seconds.