How to negotiate with CheckNGo Collections (A on BBB)

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Sub: How to negotiate with CheckNGo Collections

Sat, 07/21/2012 - 19:56

I am wondering if anyone has had any good experience with Check N Go collections. I currently have a loan that defaulted that I need to set up a payment plan for to get it paid and done with. I'm worried that Check N Go will not be very flexible with the payment plan. I'm assuming that they will want it in no more than 4 payments and I really can't pay even that right now. I have attempted to block them from debiting my account and I paid a $25 fee to do so and it FAILED! I really don't want to close my bank account as I have already done this one other time before.

Any advice on how to negotiate with Check N Go?

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Sub: #1 Do a search of the forum for information on this lender .Thu, 06/28/2012 - 15:39

Do a search of the forum for information on this lender .

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com...imitation.html

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Sub: #2 Check n' Go is a CSO and they are pretty agreeable to work with.Thu, 06/28/2012 - 22:44

Check n' Go is a CSO and they are pretty agreeable to work with.

Check n' Go is a CSO and they are pretty agreeable to work with. Call them and ask them for an extended repayment plan. I'm pretty sure they won't give you much trouble.

OhioGal1

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Sub: #3 Check 'n Go is very easy to work with. I found it easiest to coFri, 06/29/2012 - 06:21

Check 'n Go is very easy to work with. I found it easiest to co

Check 'n Go is very easy to work with. I found it easiest to communicate back and forth via email.

Tell them that you want to force the account to collections by revoking your ACH authorization. They will honor it.

You can then work with their collections department to set up a pay off arrangement.

If you've already paid a lot of interest/fees in rollovers, I suggest making a settlement offer as well.

Quote:

Example:
You borrowed $1000 with a $300 fee.
You've paid the feel aready 4 times (=$1200)
Try to negotiate a settlement of $750 over 4 monthly payments of $187.50.

Use whatever you can to ease your financial burden. Try to get them to let you make monthly payments rather than biweekly. Try to stretch the payments so you're not just continuing with a payment you can't afford.
Make sure you can stick to whatever terms you agree on.

Good luck!

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Sub: #4 I think it is already in collections as it defaulted last week. Fri, 06/29/2012 - 07:00

I think it is already in collections as it defaulted last week.

I think it is already in collections as it defaulted last week. It's a payday loan, not an installment loan. I owe $585. I know that they will try to debit my account next week for 4 payments of $146.25 because they have done that to me several times before. I NEED my money to pay my rent, so I hope I can prevent them from doing that. Making monthy payments would be great, but I'm skeptical they will go for that. I'll certainly try for that tho.

OhioGal1

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Sub: #5 Email their collections people. Revoke ACH auth. They will honFri, 06/29/2012 - 07:18

Email their collections people. Revoke ACH auth. They will hon

Email their collections people. Revoke ACH auth. They will honor the revocation. Get a prepaid debit card and try to set up monthly payments. Mine was a CSO loan which is basically the same as a payday loan and they did it for me.

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Sub: #6 What if the revocation doesn't work? If Check N Go tries to debiFri, 06/29/2012 - 07:54

What if the revocation doesn't work? If Check N Go tries to debi

What if the revocation doesn't work? If Check N Go tries to debit my account for any amount do I have the right to get that money back? I can notify my bank of the revocation. I already know that a stop payment doesn't work. My bank warned me that it probably wouldn't but I paid the fee anyways. Would the bank be responsible for refunding the money if any ACHs go through after I request the revocation?

OhioGal1

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Sub: #7 Yes. Revoke the ACH authorization. Give a copy to your bank. Fri, 06/29/2012 - 08:15

Yes. Revoke the ACH authorization. Give a copy to your bank.

Yes. Revoke the ACH authorization. Give a copy to your bank. If they put the charge through they are required to reverse it and refund any fees.

kscornell

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Sub: #8 Does Check and Go have any other DBA's (doing business as names)Sun, 07/01/2012 - 08:44

Does Check and Go have any other DBA's (doing business as names)

Does Check and Go have any other DBA's (doing business as names) that they could use? That could be the only other reason that your debit wasn't stopped--perhaps they used another name? You can still get that reversed, but it does take a little longer.

OhioGal1

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Sub: #9 In Ohio, they use NCP Finance Ohio, LLC, for CSO transactions.Mon, 07/02/2012 - 07:07

In Ohio, they use NCP Finance Ohio, LLC, for CSO transactions.

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Sub: #10 I emailed the collections department on Friday morning and I havMon, 07/02/2012 - 07:45

I emailed the collections department on Friday morning and I hav

I emailed the collections department on Friday morning and I have not gotten a response from them to set up a payment plan. Is an email sufficient enough? What if I don't hear back from them?