stopping the bleading-questions

Finally hit the tipping point with my PDLs where the payments due wil eat my entire check.

I have 7 online loans and 6 storefronts.

I am using relief.llc to handle the online ones. Mostly because I do not have the stomach to handle all of these on my own--or the time. Im in process of closing my account down and already have a new one set up. I at least stopped my overdraft protection so no more of these will get paid.

In dealing with the storefronts I have a few questions.

Im currently not past due on any--payments due Friday.

Should I go to these locations ahead of time and state that "I may have an issue meeting my obligation"? I would be willing to work out an EPP with a couple at a time..but since those payments will be more than I was making before---I cant do this with everyone upfront.

I am in Ohio, btw and here are the storefronts I have loans with.
checksmart
checkngo
cashland
Hometown Financial
Advance America
First American (now owned by Advance America)

Last questions for now. How long after missing a payment until they put the full court press on. If given just 2-3 months of no interest accruing I should be able to get these taken care of ? Should I send the revocation of ACH authorization and the wage letter to their corporate or the stores?

thanks

You can contact with Ohio Division of Financial Institutions to know about the legality of the pdl companies. If they are not licensed, then you will be accountable only for the principal. You can ask them for the refund, if you have paid them more than principal. You will have to pay both the principal and interest, if they are licensed in Ohio. In such a case, you may go for debt consolidation or debt settlement to pay-off your debts.

I would nix the reliefdotcom nonsense. Most of your online loans are likely illegal and you've probably already paid them in full, if not overpaid.

For the storefronts, go into the offices and ask for an extended payment plan. They should divide your current balance into 4 equal payments due over your next 4 pay dates. Could you afford that? If you can't, I suggest you contact the corporate offices of these legal lenders and try to set up an alternate extended payment plan that you will be able to stick to. If you can't get that done, you'll have to default and work with the collections people to pay these off.

Who are you online lenders? How much did you borrow from each and how much have you been debited by each so far?

Hi OhioGal.

Unfortunately my online ones are either legal or fairly new. The biggest is with cashnetusa. Every 5th rollover you have to pay the full amount. The only one that Ive overpaid is netcash123. The others all have received one payment from me.

I took out additional loans to be able to make that payment and renewed that loan but only paid off some of the new ones. A couple unexpected bills and it got to where I couldnt make the payments. Really it was just a matter of time..The only one that Ive overpaid is netcash123. The others all have received one payment.

I think I have a workeable plan to get the storefronts paid off in the next 2 months. By not paying the online lenders this Friday, I can payoff 2 in full this week and enter into EPPs with 2 more. I shouldnt have to go into default with any of them. By the time Im down to the two small loans, I can just pay those off. I know the collections departments can be brutal especially with Cashland, ChecknGo and Checksmart--I hear they dont hesitate to serve you.

Ive already entered the agreement with Relief. I feel its worth it for me to put the job of dealing with the online lenders with them. This has been affecting my job--and right now I need to be able to focus on that and relieve the stress of dealing with the online lenders. I'll keep posting here on how that process is working.

Netcash123 is not licensed in Ohio. If you've overpaid principal, they owe you a refund.

CashnetUSA is legal and will give you an extended payment plan if you ask for it.

Who are the other lenders?

checkintocash - licensed-I think-they also have storefronts in OH - owe $544 on $500 loan
expressmoneyline $500 loan pd $175
nationalcreditline $500 loan pd $175
Peppercash $500 loan pd $175
Paydaynation (fedFinancial Services) $500 loan pd $225

Ive paid netcash123 $2000 on what now is $750 loan

Putting calls into the storefronts today.

Again, I am working with reliefllc on the internet lenders, and may add 2 storefronts. Right now I am doing whatever I can to minimize my minimum, bi-weekly payments and get the storefronts paid off.

Called Cashland and I am going on EPP with them--first payment in 2 weeks..Doing that its just a little more than what my standard payment would have been over that time and theyll be paid off.

Called Checksmart and they arent willing to do anything at the store level. I will be able to pay them in full this week. Or pay down 1/2 this week, and 1/2 next week.

Check-N-Go wont setup payment plan upfront. They have you give them 3 checks at the time of the loan for $1000 loan. I can possibly pay off 1 of the checks to knock the balance down and then will have to work with them on the rest once they go back.

First American also refuses to setup any payment plan until the check bounces back.

Apparently being a member of CFSA doesnt mean squat for these lenders to offer the required EPPs.

the other 2 storefronts are lower $. I will address those on the next paydate.