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Illegal payday and installment loans

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I live in Texas I've read comments that some lenders are illegal in Texas for example Mobiloans, spotloans, mypaydayloan. How can you tell or have the companies status changed




The status of the companies have not changed. They are illegal. All of them are tribal lenders. Tribal lenders are illegal in our country.

Sub: #1 posted on Mon, 02/26/2018 - 12:46

ditchdebt ditchdebt

(Posts: 648 | Credits: 251.77)

Is there a letter I can send to request to pay only the principle ?

Sub: #2 posted on Mon, 02/26/2018 - 12:54

Jewel Jewel

(Posts: 10 | Credits: 1.21)

Sub: #3 posted on Tue, 02/27/2018 - 13:34

ditchdebt ditchdebt

(Posts: 648 | Credits: 251.77)

They are illegal. So, try to avoid taking out further loans from them. Ask them that you are going to pay only the principal amount that you owe.

Sub: #4 posted on Tue, 02/27/2018 - 18:55

sanderspatricia29 sanderspatricia29

(Posts: 558 | Credits: 58.49)

I checked and I have paid back the principal amount of my loan. This site is so helpful. I also had a loan with skytrail cash the acknowledged my account as pif, I haven't heard back from mobiloans which I have paid the principal on and my payday loan does not want to acknowledge my account as pif with $150.00 payment which would settle the principal. This site has been so helpful and reassuring

Sub: #5 posted on Thu, 03/01/2018 - 00:46

Jewel Jewel

(Posts: 10 | Credits: 1.21)

Good. Do not pay more than the principal amount for illegal payday loan.

Sub: #6 posted on Fri, 03/02/2018 - 17:44

Mabelle Page Mabelle Page

(Posts: 128 | Credits: 12.35)

you are taking right steps.

Sub: #7 posted on Fri, 03/02/2018 - 18:18

sanderspatricia29 sanderspatricia29

(Posts: 558 | Credits: 58.49)

Between my legal and illegal loans I had got up to 1452.00 a paycheck repaying loans that were going no where fast.
I had
Skytrail cash 800.00 and had been paying 115.00 a check. Now I have a 130.00 balance on my principal
Spotloan 500.00 had been paying 93.00 they acknowledged my account as pif
Mobiloans 800.00 had been paying 139.00 they have not responded to my letter they are reviewing my account.
Mypaydayloan 500.00 had been paying 150.00 they tried to explain they are legal blah blah. I owe 50.00 on principal
Amplify Funding. 800 had been paying 245. They will settle my account for 38.00 They are a tribal lender I hadn't seen mentioned here. Didn't realize until I read the end of their email when I had asked for a payment plan to repay the money. Glad they didn't accept my offer.
Cash America today 500.00 set me up a plan initial 50.00 then 2 monthly payments of 245.00 each
Cash Factory 900.00 agreed to 6 bi weekly payments of 174.00
Power Finane started as 300. Then I borrowed 700.00 more dollars. Agreed to monthly payments of 212.00 for 6 months.
I know I have no one to blame but my self for taking the loans . I missed some time from work , made foolish purchases before paying bills and loaning others money. But I have this forum to thank for helping me regain control over my money, and my life. Thus has made me realize how much money I have wasted and made me determined to save more than I spend so that when hard times come I will be ready. Never again will I borrow from payday loans again.

Sub: #8 posted on Fri, 03/02/2018 - 23:03

Jewel Jewel

(Posts: 10 | Credits: 1.21)

Glad that you have realized your mistake. Wait for a reply from Mobiloans. Try to save 10% of your monthly paycheck every month. This will help to build your emergency fund.

Sub: #9 posted on Mon, 03/05/2018 - 12:48

SC SC
Moderators
(Posts: 3906 | Credits: 395.61)

Thanks for the tip on building an emergency fund

Sub: #10 posted on Mon, 03/05/2018 - 22:41

Jewel Jewel

(Posts: 10 | Credits: 1.21)

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