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Posted: Mon Aug 13, 2007 10:41 am Subject: Default on Storefront PDL

What happens when I default on storefront PDL's? One company said they would work with me, the other two said no payments

Posted: Mon Aug 13, 2007 11:14 am Subject:

What state do you live in. Florida PDLs are required by law to make arrangements. Other states have laws also and some do not.

Posted: Mon Aug 13, 2007 11:32 am Subject:

Most storefront lenders are legit in their state. If you have defaulted on your account for a long time, the company might sue you in the court and get a judgment against you. You will be forced to pay the debts through court orders. You still can work out something with the companies. Give them a call and explain your situation. They might be willing to work with you and won't file a court case.

Posted: Mon Aug 13, 2007 11:43 am Subject:

I am just in default this today. I live in KY and I am going to pay I just don't have the total to give all three business and pay my mortgage and other bills. I intend on paying them all in less than 2 months.

Nini DC · Posted: Mon Aug 13, 2007 12:15 pm Subject:

they may have a license in your state, but they must follow payday loans rate/small loan laws. make sure the interest and the $ per $100 is corredct. Soeme store fronts will violate this. just b/c it's a store front don't assume that they are not in violation of your states laws.

Posted: Mon Aug 13, 2007 12:43 pm Subject: sbell

You're in Kentucky. They're licensed/legal, I can almost promise you 100%. In Kentucky, the law states they can turn it in and get one NSF fee charge. Criminal action is prohibited. They will take a repayment plan, especially if you have defaulted. Once they get it back from the bank as NSF, you'll be contacted. They will probably ask for a large payment, but do not agree to anything you can not afford. I'm posting Kentucky law for you to see. They're not going to "come and get you." I know you're feeling anxious, but read the law and you'll feel better. Also, if you don't mind, which store fronts are you dealing with?

Posted: Mon Aug 13, 2007 12:44 pm Subject:

I made arrangements to pay my store front PDL's before they were delinquent. I would notify them asap and since they are due today it is not too late to set up payment arrangements. Make sure that your payment arrangements are at a manageable amount that you can handle until they are paid off.

ladybug

Posted: Mon Aug 13, 2007 12:48 pm Subject: ladybug

ladybug, sbell stated that two of them will not take payments. Which is totally stupid! So, I'm assuming she did attempt to contact them and they didn't cooperate. So, if they turn them in to the bank, Kentucky law states one NSF fee. They'll get the check back, contact her, and she can set up payment arrangements to pay them off. Of course, as you stated, at a reasonable amount so that she's not broke.

Guest · Posted: Tue Aug 14, 2007 6:09 am Subject:

Thanks, Cannr and Goudah you two are awesome. I've been looking at this site everyday and there is always something new that I need to know.

Cannr - I'm the one that had 3 IPDL's and 3 Storefront and the 3 storefront are National Cash Advance/Ohio - they go by Mackenzie and I can't find out if they are licensed because when I do a search on the Ky site it says suspended, but I don't know it it's the right one or not because it doesn't say National Cash Advance (but they said they will work with me and take payments). The two that said they will not are Checksmart and Check N Go. And by the way I received email from paydayok that they will get back to me after they research....I've paid over 2600 on a 500 loan.

sbell1 · Posted: Tue Aug 14, 2007 6:14 am Subject:

I'm sorry I'm new to this site and I didn't know I had to put in my name. Cannr, I'm the one that couldn't see your PM's the other day.

Guest · Posted: Tue Aug 14, 2007 6:23 am Subject:

please delete my email - it is work

Posted: Tue Aug 14, 2007 7:59 am Subject:

It's deleted! Thanks for the heads up Cannr!

Posted: Tue Aug 14, 2007 8:24 am Subject: sbell

THANK YOU GOUDAH

Posted: Tue Aug 14, 2007 8:31 am Subject:

Your welcome!

Posted: Tue Aug 14, 2007 9:45 am Subject: sbell

sbell, I've looked under everything and do not see MacKenzie anywhere. I do not see Check N Go anywhere. The only thing I could find (and I don't know if it's the same company) is a branch for "Buckeye CheckSmart" under the name of Buckeye Check Cashing of Kentucky, Inc. I don't know if this is the actual pdl though. Maybe this is why these people don't want to "work out payments" with you. Hmmm.... Kind of makes you wonder. However, the plus of all this is that criminal action is prohibited in Kentucky. They're not going to get you for a "bad check". You have a couple of options here. If you're feeling very bold, walk into these places with a copy of Kentucky law in your hand and ask to be put on a payment plan. Look around and see if they have a license displayed. Store fronts must have it displayed. If not, ask where their license is. Or, you can just let the idiots turn your checks in (it'll cost you ONE NSF fee for each one) and let it come back returned. Once they get it returned, they will have to set up a payment plan with you. Whichever you decide to do, I think you're pretty safe. If any of them are even licensed (and I'm beginning to wonder now), the most they can do is turn your check in, it'll get returned, charge you a NSF fee, and make payment arrangements. I'm curious though about them being licensed. It's kind of unusual for a store front to be open and operating without a license. I'm wondering if they might be operating under a different name. Although I did do a check for them under "name" and also "d/b/a".

Posted: Tue Aug 14, 2007 9:55 am Subject:

I would bet that Check n Go is operating under another name. They are a major storefront, and it would be pretty shocking if they were unlicensed.

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