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Posted: Tue Jun 26, 2007 6:28 pm

Can someone with experience please tell me the general laws in my state? I've already seen that Payday Loan Consumer site but half the stuff is left blank in terms of Repayment Plans, if criminal action is allowed, etc.

I also need to know about how to get Checksmart, and First American Cash Advance to NOT call me at work, or call my references for that matter. Are Pay Day company's bound by the Fair Debt Collection Act? In otherwards, if I tell them that they are to refrain from ever calling me again, must they abide? What do I do if they still continue?

Someone please help me out on this...

Nate

Posted: Tue Jun 26, 2007 6:36 pm

Check out the AG site for more information or paydayloaninfo.org. They are not bound by the fdcpa since they are not third party collectors. This is unfortunate but you can write them and tell them not to contact you at work or your references. I've heard of storefronts contacting references in Ohio in order to track someone down. I never defaulted with storefronts, mine were all internet loans. You will want to contact the storefront lenders to make payment arrangements with them. Do you have any internet loans that are outstanding?

Posted: Tue Jun 26, 2007 6:39 pm

Hi naderj, I am in Ohio also. Here are the Payday loan laws for Ohio(just select your state),

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

No, they cannot take criminal action against you. There are TONS of us on here from Ohio and none of us have gone to jail over a defaulted pdl. All you have to do about the phone calls at work are tell them not to call you at work. Once you tell them that, they are no longer allowed to do so. I do not know how to get them to stop calling your references. The only way I got them to stop doing that was to call the companies myself before it got to that point. Since they are not 3rd party collectors, they are not bound by the fdcpa but I still think it is illegal for them to share your personal business with your references. You ARE entitled to a repayment plan so the best thing to do with the storefronts is to approach them with a payment plan that you can afford and stick to it. I am sure others will be along with more input. Good luck and let us know what we can do to help. Smile

Posted: Tue Jun 26, 2007 6:40 pm

Also, if they are not licensed in Ohio, they should not be doing business here. Rollovers or extensions are not allowed here. I don't think there would be any criminal charges but they could take you to court for not paying. This would be civil action.

Posted: Tue Jun 26, 2007 6:40 pm

Not internet loans at all... all store fronts... and those loans are as follows...

Checksmart --- $460

First American Cash Advance --- $230

Advance America ----- $460

I'm paying $600 a month in just fee's ... I need to get out of this trap.... I appreciate any and all advice...

Posted: Tue Jun 26, 2007 6:43 pm

Also, do a search for the Ohio Check Cashing Loan Act because this will give you all the information that you need. It's long and in depth but it's good to know these things. It's what the DIF uses to enforce lending laws in Ohio.

Posted: Tue Jun 26, 2007 6:46 pm

In all honesty, the first thing I would do is close your bank account so they can't cash any of those checks. Then, approach them with a payment plan that you can afford. I was in that same trap before and dealt with Advance America and First National Cash Advance. Let me give you a heads up with First National.....my checks to them were returned so they called me and I told them I would be in on a specific date to pay them. Well I went in and paid them and they were done. Well guess what, a week or so later, they electronically debited the money from my account!!!!!!!! Apparently the "home office" processed it before I paid them off. I had to fight with them for at least 2 weeks till I could finally get that money back so watch out for them.

Posted: Tue Jun 26, 2007 6:52 pm

Where are you guys finding that I'm entitled to a repayment plan though? That's the thing, I can't find that anywhere I've looked, and I'm so scared that Checksmart is going to be evil to me when I call them tomorrow to say "Hey my checkbounced sorry

Posted: Tue Jun 26, 2007 7:20 pm

Ohio payday loan laws require the lender to allow you a repayment plan if you default. Contact them, tell them what you can payback each payperiod. Of course they are going to say no, but stick to your guns, and do not promise to pay back more than you can afford at one time. As far as payday loans go, you don't have to many and you should be able to get out of this situation in a short time period.Remember, if you make a plan with them, stick to it, storefronts will take you to civil court.

Posted: Tue Jun 26, 2007 7:31 pm

I just didn't want to sound like a moron when I told them that they had to allow me to give them some sort of payment plan, the lady at checksmart was a royal witcha nd said that it had to be given to them in full

Posted: Tue Jun 26, 2007 7:33 pm

No, she is wrong. If you had it in full, you wouldn't have defaulted and you wouldn't have to continuously refinance the loans. Keep sticking to your guns, don't back down, they are required by law to allow the consumer a repayment plan.

Posted: Tue Jun 26, 2007 7:34 pm

This may make you happy. Ohio is about to pass a new law regarding payday loans, limiting their interest rate to a 36% cap. Soon enough this witcha can take her witcha a$$ to the unemployment line, this new law is going to run them out of business in Ohio.

Posted: Tue Jun 26, 2007 7:38 pm

I really hope so steelers.... I really do. The amount of stress this has caused me is probably the most I've ever had.. I really appreciate your advice and I'll keep my fingers crossed that these places will be out of town soon

Posted: Wed Jun 27, 2007 7:55 am

I was told by a woman in the Division of Financial services to go into the store and pay them what you can. If you call Checksmart they will give you a hard time. One witch just started screaming at me when I told her what the Division of Financial Institutions told me. Pay them what you can because they will take you to court, call you at work, fax a paper to your job. They are a major pain in the butt. Checksmart was probably the most difficult to deal with. I made payment arrangements with other store fronts and they were much easier to deal with.

Posted: Wed Jun 27, 2007 8:00 am

She was just irked because you were right. They can not tell you that they don't take repayment plans, it clearly states they have to in the law. They are ticked because they will soon be unemployed when Ohio passes the new pdl law.

Posted: Wed Jun 27, 2007 8:58 am

I think they are starting to get nervous because now the storefronts are offering free pizza and free videos. All kinds of stupid little things to try and suck people in.