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I currently have 6 loans out with cash central,cash net USA, Ameriloan, sure advance that also goes by national advance services, instant payday loan and go cash llc. I want to make sure these are illegal. I have looked on texas department of banking and office of consumer credit commission and found not listing for any of these. What is my next move? I already have one collection agency calling for payment.
Looked on texas department of banking
Welcome to the forums!!!
All the above mentioned lenders are illegal except Cash Net USA. You are required to pay only the principal balance to your illegal lenders. Don’t pay them any interest or fees. Just close down your old bank account and open a new account in this case. As far as Cash Net USA is concerned, you are liable to pay them both the principal and interest. In this case you may try to negotiate with your lenders and set up a payment arrangement with them, if it seems difficult for you to pay back the full balance.