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Posted: Wed Aug 27, 2008 11:58 am Subject: pay day loan epp help

Hi everyone! after browsing under the radar for awhile, i decided to post to seek help. everyone seems so helpful and nice on here by the way! I live in Ohio and have a store front loan with checksmart. I got $550, owe around $630-ish. They are CFSA, but when I called to inquire about EPP, they said they don't do that. I have not defaulted, and have always paid on time, but this is the only way out of the cycle. I called their corp. office, and they said it is up to the individual store. Do they have to set up EPP since they are CFSA? Please help, and thanks in advance.

Posted: Wed Aug 27, 2008 12:05 pm Subject:

Hmmmm well, if they're members of the CFSA then they are suppose to follow the guidelines. You could try contacting the CFSA and complaining that one of thier members aren't abiding by the guidelines, not sure if it will do any good but if the CFSA is going to boast that thier members follow the guidelines then they need to make sure they do. Did you speak with the Branch Manager of this particular store front? You might just print out a copy of the guidelines at the CFSA website and take it into the store with you.

Guest · Posted: Thu Aug 28, 2008 3:56 am Subject:

Thanks Shazzers..... I will go into the storefront today to speak to someone in person. Maybe they just told me that since I was over the phone and not face to face. I will post back on how it goes.

Posted: Thu Aug 28, 2008 4:44 am Subject:

Was it a PDL or installment loan? Usually when it is an installment loan, they say they can't do that. I would go into the store and talk with a manager and tell them that you are willing to work with them to get this paid off, and ask them what they can do to help you. If they still won't work with you, then just pay them what you can.

If you default, usually the interest and fees will stop and then you can just pay them as much as you can. As long as you are paying on it, it will stay at the branch. If it does goes to internal collections, as long as you are paying on it, nothing will happen.

Don't feel intimidated. As long as you pay on it, you should be okay.

Guest · Posted: Thu Aug 28, 2008 6:29 am Subject:

Thank you so much desperatelyseekingsanity. It is a PDL. My main concern is the new payday loan law is supposed to go into effect September 1st in Ohio. Usually I pay off, then reloan the next day. I am worried that with Sep. 1 looming, i will pay off, then be unable to reloan, in which case rent, etc. cannot be paid. If I can do the EPP, paying roughly $160 four times, then I can pay them off, stay afloat, and be out of their grasp for good.

Posted: Thu Aug 28, 2008 7:21 am Subject:

Here is the CFSA EPP link. Best of Luck! Razz

http://www.cfsa.net/public_education_campaign/guidelines/guidelines_ex tended_payment_plans.html

Guest · Posted: Thu Aug 28, 2008 8:21 am Subject:

I live in Ohio too, and had a loan with Checksmart. I called the branch manager and asked her about the EPP, and she said to come in the day before it was due and she took care of it all. They should have the posters inside the store with the CFSA practices,the EPP is on there. Speak to the manager. This week is the third week of the EPP, when I go in, I have the manager handle it.

Posted: Thu Aug 28, 2008 10:25 am Subject:

This makes me very optomistic! thanks for all your help. My friend i work with used checksmart as well, called and asked about epp (at a different checksmart branch than i go to) and they told him they don't do that there. he defaulted last week sometime and the calls have started. I feel bad for him.

Posted: Thu Aug 28, 2008 10:42 am Subject:

It's also possible that they are no longer doing the EPP because of the new laws that may go into effect.

Guest · Posted: Thu Aug 28, 2008 12:36 pm Subject:

Well, I did it. No hassle, called the manager, she said just come in and they'de set it up. $158-ish every two weeks then DONE FOREVER!!! Thank you all for your help and responses.

Posted: Thu Aug 28, 2008 12:52 pm Subject:

Yay for you! That has to be a load off your mind!! Good work!! Very Happy

Posted: Fri Aug 29, 2008 9:00 am Subject:

Thanks Shazzers! One interesting tidbit though, when i set it up yesterday, i was told that if i am even one day late, i forfeit all payment i made to that point, and they run my check for the full original amount. ouch. better not be late i guess.

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