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 Posted: Thu Nov 20, 2008 3:14 pm Subject: Need Help Getting Out of Payday Loans |
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My situation has continued to snowball and I am using all of my paycheck to repay my extension fees. I cannot pay any of my other bills because of this. I need HELP, any suggestions? I love in Arizona.
Store Front PDL's
1 Stop - $300 / Fee $52.00
Speedy Cash - $500 / Fee $88.20
Urgent Money Service - $500 / Fee $ 87.50
Checkmate - $500 / Fee $87.50
Check n Go - $400 / Fee $70.00
Advance America - $500 / Fee $75.00
Cash 1 - $500 / Fee $87.50
Ace PDL - $500 / Fee $88.00
Allied - $300 / Fee $52.00
TOTAL $4000 / Fees $687.70 Every two weeks
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dclark9292
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| Posted: Thu Nov 20, 2008 3:31 pm Subject: reply |
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these are all storefronts?if you are still current go in to each one and request an EPP(extended payment plan).each loan is broken into four equal payments and your balance on each is frozen so no more interest.go in person and see the manager to do this.on storefronts it's the only way to catch up while not defaulting.
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paulmergel
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| Posted: Thu Nov 20, 2008 3:39 pm Subject: reply |
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Is there a law I can reference? Is an EPP something they have to do?
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dclark9292
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| Posted: Thu Nov 20, 2008 3:42 pm Subject: reply |
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if they are CFSA members,which all legal storefronts are they must honor it.go see the manager to get it done the regular help will be no help,but on your AG website it should state something about it.
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paulmergel
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| Posted: Thu Nov 20, 2008 3:51 pm Subject: reply |
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What is AG?
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dclark9292
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| Posted: Thu Nov 20, 2008 3:57 pm Subject: reply |
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attorney general.
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paulmergel
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| Posted: Thu Nov 20, 2008 4:07 pm Subject: reply |
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I went to the CFSA website and the payment option is over 4 pay periods meaning every two weeks. That would mean $1,171.92 per pay check. Is that right? There is no way I could do that. Let me know
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dclark9292
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| Posted: Thu Nov 20, 2008 6:18 pm Subject: |
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It doesn't look as if The Cash Store is a member of the CFSA.They are a storefront however,are they operating illegally?
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green82
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| Posted: Thu Nov 20, 2008 6:37 pm Subject: |
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ok so we live in az too and my wife has a few store fronts, she called one of them a few min ago and asked for epp and the lady said no, we asked if they are cfsa certified, the lady said yeah, then she said that law doesnt start until 2010. then the lady said they are cfsa in chicago? this is az. is payday loan store legal?
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bandcstoops1
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| Posted: Fri Nov 21, 2008 8:20 am Subject: |
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Check to see who all will work with you on a payment plan. Two of the loans I had wouldn't even work with me until their debit was returned by the bank. One was a storefront and the other online. The online one, they originally said would immeditely go to a collection agency. I sent a letter to them revoking any right they had to debit my account, stating that they are not to contact my employer, stating that they are not to attempt to do any wage assignment, and stating that the amount that I owed at the time of default is the only amount that I will pay. Anyway, the online lender called back to set up a payment plan yesterday! Interesting, because I had been told for the several years that I had been dealing with this company that they don't do any kind of payment plans. Well people, prayer works! My suggestion to anyone is to pay these off and don't mess with them anymore. Start putting money aside for a rainy day so that you can borrow from yourself instead of dealing with pdls because they will put you in a cycle of debt. One can get out of it, but it cost alot of money to learn the lesson. I wish I had learned it years ago, because it would have saved me alot of money.
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christoddinfo
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| Posted: Fri Nov 21, 2008 9:53 am Subject: |
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bandcstoops1 what lender is that? If they advertise CFSA they must comply. You are entitled to one EPP in a 12 month period. I am in AZ as well. Calll the CFSA and ask them for the corportate number for this storefront and explain what happened. 2010 is the sunset law and has nothing to do with EPP's.
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kfstaff24
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| Posted: Fri Nov 21, 2008 11:23 am Subject: |
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Just a few points of clarification...
1. Not every legal lender is part of the CFSA, but every CFSA member is a legal lender. My stores are not members of the CFSA due to the cost of membership, but I am licensed and legal in both states that I operate.
2. The EPP is not guaranteed unless the storefront is a member of the CFSA and...
a. Your account is not currently past due
and/or
b. You have not used the EPP with the lender in the last 12 months
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PDL Owner
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