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Posted: Thu Dec 04, 2008 1:05 pm Subject: Newbie, break the PD cycle

Hello all!

I'm a newbie and I'm sure you guys have responded to this topic many times so if you want to point me to a thread that would be great.

My deets are that I have four pd loans that are eating me alive. I am trying desperately to get out of them without the checks hitting my account and causing my account to get closed.

Is there a way to negotiate with these lenders before the checks get deposited? What options do we have?

The PD lenders are

Check Smart
Quick Cash
Check Into Cash
Check N Go

Thank you for any suggestions

Posted: Thu Dec 04, 2008 1:24 pm Subject:

Check Smart, Check into Cash and Check n Go are all members of CSFA which means that you can go in and request a EPP(Extended Payment Plan). They will break up the payments into four equal payments over four paydays.

You must request the EPP BEFORE you default and then stick to the repayment arrangment.

I am not sure about Quick Cash. I am sure someone will come along with more information about them.

Posted: Thu Dec 04, 2008 1:36 pm Subject:

Can you request EPP's for each of them at one time?

Posted: Thu Dec 04, 2008 1:48 pm Subject:

You need to go to each store front and request it from them in person at least a day ahead before the loan is due.

I have one at Check Smart right now and they were very nice about it an even let me pay the first payment in two weeks rather than right then even though my loan was due the next day.

I have made one payment so far and make my second tomworrow. They are very nice about it.

Posted: Thu Dec 04, 2008 2:13 pm Subject:

Thanks nohiogal! I'm due on Monday so I guess I will go plead my case sat!

Posted: Thu Dec 04, 2008 2:24 pm Subject:

Good Luck! I am sure you will have no problems. I am still looking for info on Quick Cash. I don't show them as a member of CSFA but they may still offer a EPP. You can at least call and ask if they offer one.

Posted: Thu Dec 04, 2008 2:33 pm Subject:

I have seen the pamphlet at their offices. I think it is Quik Cash (with a K).

I dream of the day this is behind me. You guys are great!

Posted: Thu Dec 04, 2008 3:14 pm Subject:

I don't show Quik Cash as a member on the CFSA list but there was a post in Arpil of this year stating that they are...

http://www.debtconsolidationcare.com/paydayloan/virginia-storefronts.h tml

And since you have seen a pamphlet then I think you can assume they will give you an EPP too.

Keep your chin up. I am still working through mine (I have three) but tomorrow when I make my second payment I know I will feel like I did the last time. I almost can't wait to go because that is one more payment out of the way and closer to having at leaset that one PDL loan behind me FOREVER.

Posted: Thu Dec 04, 2008 3:38 pm Subject:

How many EPP's can you have?

Posted: Thu Dec 04, 2008 3:42 pm Subject:

I read that you can only get one EPP per year is that true?

Posted: Thu Dec 04, 2008 4:54 pm Subject: reply

from each place yes.each place must honor your EPP request but they can only do it once a year.

Anger is Power · Posted: Thu Dec 04, 2008 5:34 pm Subject: How to Negotiate Storefront Loans

I also had loans with Check into Cash, Advance America, and California Check Cashing. All I did was this:

1. Called each store, explained that I had a dire emergency situation and that I needed to work out an alternate re-payment plan.

2. BEFORE the loan payback dates, I went into the stores to fill out a form they required of me in order to effect the new arrangements. A simple form, that's it. The key is to come in BEFORE the day your check is due.

I was soooo nervous about the reaction I'd get and the threats, but guess what? EACH AND EVERY ONE OF THEM allowed me to make smaller payments!! Apparently, this is standard practice for those who can't pay on time, and now all I have to do is pay $75 every 2 weeks until they're paid off. The interesting thing is that each one of them offered the very same alternative repayment plan, so apparently it's a very common scenario.

Anger can be powerful as long as you're not afraid to take that knockout punch! It's your money, get in front of it and start living your life in peace.

Guest · Posted: Thu Dec 04, 2008 6:38 pm Subject:

Thanks Anger. Only other question I have is when you went in to fill out the paperwork did you have to make a payment of any kind that day? I have two loans due on Monday but I don't get paid until Friday. I will not have a penny to give them before then.

I am so nervous I can hardly sleep these days.

Posted: Fri Dec 05, 2008 2:56 am Subject:

Checksmart let me pay the first payment in two weeks. I did not have to make the first payment right then.

I am not sure what the other places will do but I am sure they will work with you.

I had many sleepless nights over the last couple years over the PDL problem. As soon as I made the first EPP I felt a lot better and you will too Smile

.

The thing to remember is to have patience. I know we all would like to get a large chunk of change and run and pay them all off right away. I know I would but it does take time. At least you are paying and you won't get harrassing phone calls about them in the meantime.

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