AZ payday loan help please

Hi there,
I currently have four loans out, all from storefronts with written checks.

Allied Cash Advance $500 have paid one extenstion interest fee
Speedy Cash $500.00 have paid one extension interest fee
Check Mate $500.00 have due tomorrow or pay extenstion
There is one more due on the 3rd of March I will have to look at my paperwork for the name.

I must get out from under this mess. I want to pay them back but my husband is unemployede and my income is the only one for now.

Will the letter that is recommended on other threads work for this? If I revoke their right to do certain things and acknowledge my debt and the want to pay it off in more reasonable payments?

Any advice?

My best advice is to get in touch with each and every one of them and let them know your situtation and what you are able to afford. Since you mentioned that these were storefronts I am assuming that they are following AZ State Laws in regards to what these payday lenders are allowed to charge etc.

Arizona State Information
Legal Status: Legal
Citation: Ariz. Rev. Stat. § 6-1251 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Min: 5 days
Maximum Finance Rate and Fees: 15% of check Finance Charge for 14-day $100
loan: $17.65 APR for 14-day $100 loan: 459%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One Rollovers Permitted:
Three (extensions) Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: $25 NSF fee + actual charges assessed by the financial institution Criminal Action: Prohibited

Thank you for your response. Should I write any letters, close my account?

If you are in a situation to where you can no longer afford to have multiple lenders debiting your account then I would send them a revocation of ACH. Below is a sample letter used to revoke an ACH to a payday lender. But another thing to be aware of is a letter will not neccesarily stop them from debiting. Most will some will not. So what most people do is close that account and open a separate account. You can talk to your branch manager at your bank and discuss their policies on a hard ACH block as well. But most importantly is to talk to each (storefront) lender and discuss the issue you are having and try to reach an arrangement that works for you. Here is the letter:

I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with my bank to protect my interest in this matter, per instructions from The Arizona Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.

I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.

I prohibit you or your affiliates to contact me via telephone at my place of employment or my home telephone number. I also prohibit you from calling my references listed on my loan.

Thanks again for your time in helping ! I appreciate it!

Sure, I hope your situation gets better.

Allied Cash and Check mate are members of the CFSA (Community Financial Services Association of America), see the link below, this means you are eligible for an EPP (Extended payment plan).
http://www.cfsa.net/MemberList.aspx
Read the link below which explains the EPP, number 11.
http://www.cfsa.net/industry_best_practices.html

The other lender you have may also be a member of the CFSA, you may want to call them and ask because this would be the best way to pay them off, you can pay this off in four separate payments on each pay day, and the interest stops as soon as you sign up for it. Due to the fact they are members of the CFSA they must adhere to the guidelines, which means you are eligible for an EPP.

Ok I called them All


Speedy cash said no problem for the epp

Check Mate said they don't do payment plans and to contact their collections department, which I will and ask about them being on the list provided above.

Allied said she could put me on the plan but I have to pay the interest on it due today for 88.xx. She said if I had called yesterday she could have done the payment plan.

So that's where I stand.

It definitely seems your on the right track. Keep us posted.