I received a call from this number. A woman identified herself as Nicole Cochran and said she works with the Criminal Investigation Dept. of Dorothy Thornton and Associates. She was calling on behalf of my sister and basically said if my sister didn't call by the end of the day (7-9-10) she would have a warrant out for her arrest. After making a phone call to someone else for help they said this person is probably just a collection agency and I shouldn't worry about it. Well, you do worry about it when these people are so sure-sounding and give you case numbers, etc.. I'm only posting this as another warning since a different phone number was listed when I Googled DT and Assoc.
This number and the woman you spoke of has been found by many to be a collection service hired by various payday loan companies. In many states even though you have turned over a post dated check 'this it's self should be made illegal in my book' it is still held under law to follow the guidelines of small loans which by law you can not be held in criminal content. This is just a tool these companies are using to ensure you pay your loan if you dont they act as if their is still debtor prison. Also if these postdated checks were in the same catagory as lets say a check you write to walmart they would simply turn them over to the DA for collection i bet not one of you has had this happen.
Texas Law on Payday Loans:
Texas payday loan laws were first enacted in June of 2000. As with other states, Texas payday loan laws state that a lender must obtain a license before they operate. Under Texas state law, a company that engages in the business of payday loans is defined as any person(s) making cash advances in exchange for a consumer’s personal check, or in exchange fore the consumer’s authorization to debit the consumer’s deposit account. The licensing laws for payday loan lenders in Texas are the same as stated under the Texas Finance Code Ann. 342. Texas payday loan laws have different requirements on fees than other states. Under Texas law a lender is allowed to charge no more than $1 per $5 that’s borrowed for loans under $30. For loans over $30 but no more than $100, a service fee of one-tenth the amount can be applied. And for cash advances over $100, a fee of no more than $10 can be charged.
Texas payday loan laws also permit handling charges in addition to service or interest fees. Under Texas law, a $3.50 handling charge can be added each month to the total amount as long as the amount of the loan doesn’t exceed $35. If the cash advance is over $35 but no more than $70, monthly handling charge of $4 can be applied. For loans over that amount, a $4 fee can be added each month for every $100 that’s borrowed.
Payday loan lenders in Texas must post a notice with a fee schedule along with a written agreement. The agreement must contain the name of the lender, the transaction date, the amount of the check, an itemization of fees, the earliest date the check must be deposited, and a total amount expressed in U.S. dollars and as an annual percentage rate. The agreement form should have the name, address, and phone number of the Consumer Credit Commissioner. Texas payday loan laws also require that the agreement form provide a notice that sates payday loans are intended for short-term cash needs.
Texas payday loan laws prohibit lenders from dividing one loan into two loans for the sole purpose of collecting higher interest fees. The maximum term limit for payday loans in Texas is 31 days. The minimal term limit for payday loans is 7 days.
Under Texas law, a lender cannot pursue criminal charges to collect on a debt. Also, a payday loan lender is limited as to how many times a loan can be renewed. Currently under Texas law, lenders are allowed to renew a payday loan one time each month.
First check the laws in your state for payday loans here is how Texas is
Texas Law on Payday Loans:
Texas payday loan laws were first enacted in June of 2000. As with other states, Texas payday loan laws state that a lender must obtain a license before they operate. Under Texas state law, a company that engages in the business of payday loans is defined as any person(s) making cash advances in exchange for a consumer’s personal check, or in exchange fore the consumer’s authorization to debit the consumer’s deposit account. The licensing laws for payday loan lenders in Texas are the same as stated under the Texas Finance Code Ann. 342. Texas payday loan laws have different requirements on fees than other states. Under Texas law a lender is allowed to charge no more than $1 per $5 that’s borrowed for loans under $30. For loans over $30 but no more than $100, a service fee of one-tenth the amount can be applied. And for cash advances over $100, a fee of no more than $10 can be charged.
Texas payday loan laws also permit handling charges in addition to service or interest fees. Under Texas law, a $3.50 handling charge can be added each month to the total amount as long as the amount of the loan doesn’t exceed $35. If the cash advance is over $35 but no more than $70, monthly handling charge of $4 can be applied. For loans over that amount, a $4 fee can be added each month for every $100 that’s borrowed.
Payday loan lenders in Texas must post a notice with a fee schedule along with a written agreement. The agreement must contain the name of the lender, the transaction date, the amount of the check, an itemization of fees, the earliest date the check must be deposited, and a total amount expressed in U.S. dollars and as an annual percentage rate. The agreement form should have the name, address, and phone number of the Consumer Credit Commissioner. Texas payday loan laws also require that the agreement form provide a notice that sates payday loans are intended for short-term cash needs.
Texas payday loan laws prohibit lenders from dividing one loan into two loans for the sole purpose of collecting higher interest fees. The maximum term limit for payday loans in Texas is 31 days. The minimal term limit for payday loans is 7 days.
Under Texas law, a lender cannot pursue criminal charges to collect on a debt. Also, a payday loan lender is limited as to how many times a loan can be renewed. Currently under Texas law, lenders are allowed to renew a payday loan one time each month.
i recieved a call on 1-19-2011 from "nicole Cochron" saying she was an investegator and giving me a badge #6414.. she convinced me that i owed a cash advance from 2007 and they were going to prosecute me for passing bad checks, told me if i didnt come up with 975.00 that they were issuing a warrent for my arrest and i could do 2-5 years imprisonment and be a felon... i have never had a record for anything so was scared out of my wits... my husband proceeded to give her his account info 30min later because we just were so blind sided.. the next day i decided to google the name and came up with identicle stories from people like me.. needless to say my husband closed his account immediatly and contacted her at the 404# she called us on.. im so glad we caught it in time... everyone please be very careful of scam!!