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#2
07-03-2009, 03:28 AM
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I think you should either negotiate with them for a debt settlement or register with a good debt settlement company, who will negotiate with your creditors and settle the debt for less.
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Regards Carol 
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#4
07-03-2009, 09:27 AM
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Ask if they offer an EPP (Extended Payment Plan). If the stores you have loans with are members of the CFSA then you are eligible for the EPP but you must request it before you default. Read about the EPP at the link below, number 11.
http://www.cfsa.net/industry_best_practices.html __________________
CLICK HERE To join my Social group, The Payday-Loan-Free Advocates! Online Complaints Ohio Attorney General Online complaints: Federal Trade Commission. Ohio Payday Loan Laws CLICK HERE to find a Creditor
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#5
07-03-2009, 09:41 AM
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The best way to settle with them is an EPP. If they do not offer an EPP your best shot is their Corporate Office. Communication is the key let them know you want to pay it off but you need to make some kind of arrangements. You need to pay as much as you can and as often as you can and chances are you can get this resolved before they take legal action against you.
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#6
07-03-2009, 02:33 PM
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EPP is a great idea but I think the problem with it is that by the time most people start looking for a solution its too late. If you are'nt able to make the interest payments on your loan its highly unlikely you could afford the EPP.
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#7
07-03-2009, 02:37 PM
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My understanding was the OP was only paying the interest on the loan. She/he may as well get the EPP and be paying on the principal instead of only interest. The interest at least stops once you have signed up for the EPP.
__________________
CLICK HERE To join my Social group, The Payday-Loan-Free Advocates! Online Complaints Ohio Attorney General Online complaints: Federal Trade Commission. Ohio Payday Loan Laws CLICK HERE to find a Creditor
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#8
07-03-2009, 03:38 PM
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That is the way that I read it also. The problem with the EPP is that if a borrower cannot afford the fee for the loan, they generally are not going to be able to afford the EPP as it will generally be more for each payment. The true definition of "between a rock and a hard place"....
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