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Posted: Fri Aug 01, 2008 5:49 am Subject: Help! Payday loans, OVER it!

I live in Kentucky and i have 8 store front payday laons totaling about 3,000 or less. I want to pay them back but the fees are taking my check. i cant pay rent, etc and i have taken on 2 part time jobs and still cant make it. What is the law, does it go to collections where i can make payments and does it effect my credit? HELP!!! Pay check is comiong up and i don't want to run around.

Posted: Fri Aug 01, 2008 7:31 am Subject:

Since these are all storefronts, I'm assuming that they are all legal which means you will need to get these taken care of ASAP so no legal action is taken. Have you talked to any of the lenders to see if they will work out some sort of payment arrangement.
Check out the link below.
http://www.cfsa.net/public_education_campaign/guidelines/guidelines_ex tended_payment_plans.html
It appies to only store front lenders and it may be of some help to you.

Posted: Fri Aug 01, 2008 8:01 am Subject:

Have you defaulted on these loans yet? If you haven't, you may be eligible for the EPP (Extended Payment Plan), but only if these store fronts are members of the CFSA, I think this is something worth looking into so you aren't drug into court. The EPP plan is only made available if you ask for it, and this is only for loans you haven't defaulted on, you must request it at least a day before your payment is due.

By the way, I am moving this to the payday loan section so it will receive more attention. Smile

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Help! Payday loans, OVER it!

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