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Posted: Fri Jun 06, 2008 12:58 pm Subject: Payday Loans

I presently have six loans out. All of them are from store front orginizations in Ohio. I'm one of those folks that borrows from one to pay another. It must stop. I am spending emormous amounts to keep from paying the balance in full. Money I simply don't have.
What is the best approach to breaking the cycle of the store front PDL?

Posted: Fri Jun 06, 2008 4:00 pm Subject:

I'm gonna move this to the PDL board. Should get more exposure and better/faster help there.

Now... You say they're all store-front loans in Ohio? Give us a bit more info if you please. Specifically, the names of the places, how much borrowed from each, and how much repaid on each to date.

Posted: Fri Jun 06, 2008 6:15 pm Subject:

If these are all store fronts, and you haven't defaulted yet, some or maybe even all of these stores could be members of the CFSA. If they are, then you can evoke the EPP (Extended payment plan), which consists of paying them off in 4 equal payments on each payday. But first we would need to know the names of the store fronts you have loans with. Please provide us with the information Uncle Wulf asked for and we can try to figure out a plan of action for you! Smile

Posted: Fri Jun 06, 2008 6:24 pm Subject:

You have come to right place for assistance all of us have been in your shoes at one time. Please provided the requested information and we would be happy to assist you.

Posted: Fri Jun 06, 2008 11:40 pm Subject:

If the storefront pdls, those you’re dealing with, display the CFSA seal at their doorway, they are a member of the CFSA and if so, they may allow you to set-up the EPP to pay-off the loans. The EPP works as following

You can invoke the EPP if you’re not able to pay your loan on the due date.
You need to apply to evoke the EPP on the last business day before the due date.
A repayment plan will be set to pay the lenders in four equal installments on your payday.
While you’re under the EPP plan, no collection activity will take place against you till you meet the EPP obligations.
There is no charge involved in invoking the extended payment plan. You only need to sign the repayment amendment form with the lender. However, if you default in it, an EPP charge will be imposed upon you.

Posted: Mon Jun 09, 2008 12:38 pm Subject: Current Loans

I have:

Check-N-Go 800.00
Express Cash Advance 500.00
Cash Post 700.00
Cash Tree 800.00
PAYDAY 800.00
Cashland 800.00

None are in default (yet). I haven't paid on any.

Posted: Tue Jun 10, 2008 10:28 am Subject:

Check-N-Go is definitely a CFSA member, and I am pretty sure that Cashland is also, I'm not sure about the rest of them, but you can find out by calling them, and asking. Once you have found out which of these are CSFA (Community Financial Services Association) members, you can go into the store and ask for the EPP (Extended Payment Plan). They will ask for payments from you in 4 equal installments on each of your paydays. Usually, when you go in to request the EPP all they ask for that day is the interest. Then they divide the principal amount into 4 equal payments. I would advise you to make some type of arrangments with these store front loans, because they will not hesitate to sue you. And they will try to cash the check you wrote to them, which will cause you all kinds of NSF charges. Confused

Posted: Tue Jun 10, 2008 10:30 am Subject:

Oh and, please make sure you go in BEFORE you default or the EPP will no longer be available to you. You MUST go in at least one day before it is due. Good luck! Smile

Posted: Tue Jun 10, 2008 11:17 am Subject:

mark, you can go to (www)cfsa.net and you can click on "pdls that adhere to the cfsa" and you will see a list of the pdls that are members. If you see yours, call them up/go in (before the due date) and ask to invoke the EPP. Just remember that the EPP means 4 equal payments coinciding with your paydates. You most likely can't do this with all your storefronts. That would be a lot of money! If you can do one or two at a time and knock them out, that's fine. Carry the others over and do them after you have one or two paid off, it'll work. It'll take time to get rid of them entirely, but believe me, it can be done! Been there! I'm also going to post your Ohio state pdl law just so that we can all see.

Posted: Tue Jun 10, 2008 11:19 am Subject:

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