In a jam again

Well last year I got in trouble with 5 payday loans. I sent all the letters and have not heard from them since. I was really in a bind and got two more 2 months ago, I am in illinois and the companies are affinity cash loan and pay day one. I thought these would be better since they were installment loans but I am finding its not. I would like to do an epp with them to possibly help freeze the interest and allow for me to pay the loan off. Can any one help me- I really feel dumb getting involved with this again.

I'm not sure on the other but PayDayOne should let you pay it off in payments. You may have to default before they will work with you though. They told me the best they could offer was 6 equal bi-weekly payments. So depending on how much you owe it can still be hefty payments.

If pay day loans are illegal in Il, then the two yiu are speaking of are NOT store front, but rather internet.
There is no EPP on internet loans.
You need to pay the principle amount borrowed, and stay away from any more loans

PayDay Loans are legal in Illinois. But the OP is not referring to pdl but installment loans. Legal internet lenders DO allow for EPP and the interest will have to be paid. Please be careful of the advice you give.

I'm not sure about affinity cash loan- but PayDayOne is going to be legal. So far I am not aware of anyone here having an illegal installment loan. It seems to be a new loophole these places are using-best thing to do is let them know you are having trouble making payments and ask if they can work something out with you.

Well excuse me for making an error. Yiu are rather new here yourself. is all your info correct

Paul Mergel is from Illinois, hang tight until he is able to answer you. The guest is correct, PaydayOne is perfectly legal, they do offer an EPP plan also. I'm not certain about the other lender either but you can type it into the search box located in the upper right hand corner of this forum to see what you come up with.

was affinity cash an istallment loan?if so then the pdl laws do not apply.check the terms.some places say they are installment loans,but have terms similar to a pdl's.affinity cash is not licensed to do pdl's in IL.

Is Affinity Cash a store front? I think they are, and they provide installment loans.

Installment loans are very similar to PDL's except for 2 things...they are more than 120 days in length for repayment, and you pay every two weeks (usually). They do not have to follow the PDL laws - obviously b/c they are NOT PDL's - and therefore do not offer EPP plans.

Just contact them and work something out. It will be okay.

exactly.they do installment loans.just checked.in fact alot of storefronts like ALL CREDIT LENDERS,USA PAYDAY,PAYDAY LOAN STORE,and CHECK-N-GO only do installment loans.no pdl's.

CSOs in some states

Thanks for the information, I will need to figure out how to deal with this. I would love to pay them off as soon as possible but with all the interest, its not going to be as fast as I want. I made my bed now I have to handle it. Thanks

Thanks for the information, I will need to figure out how to deal with this. I would love to pay them off as soon as possible but with all the interest, its not going to be as fast as I want. I made my bed now I have to handle it. Thanks

Thanks for the information, I will need to figure out how to deal with this. I would love to pay them off as soon as possible but with all the interest, its not going to be as fast as I want. I made my bed now I have to handle it. Thanks

Hmm...a store called "Payday Loan Store" but doesn't offer PDL's...not true...they have PDL's, but I'll bet if you go in for a PDL, they will give you an installment loan instead...they'll tell you that it will make it easier to pay them back...you can pay them over 20 weeks instead of your next payday...

They do this "switch" to the installment loans for several reasons...1) they make more money (obviously), 2) a PDL (in Illinois) can't be rolled over - ergo the installment loan, and 3) once you make a few payments on the installment loan, they're willing to "re-loan" and therefore keep you in the loan trap...

Sorry for the ramblings...

Very true. They will let you refinance the whole loan for a greater amount tacking on additional fees. None of the money you paid towards the prior loan will be counted towards the new refinanced loan. Stay away from these places, they are getting unbearable and unaffordable by the minute

If I wanted to get a $1000 loan and pay back $1700 I could have went to the bank and got a better deal. Ah ha, that is the KEY, the banks are not loaning to high risk customres, so the PDL industry is banking off of that Quick, easy, fast money BEWARE