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Posted: Mon May 21, 2007 10:15 pm Subject: Store fronts and T & C

Can anyone share their experiences with storefront lenders being handled by T & C? I know I can be sued by the licensed lenders even with a debt management company paying them but how common is it for them not to like the amount they're getting from T & C even if payments are being made? I'm a little nervous about these. The storefronts are Checkmate and Advance America and my husband and I both have loans with each one. We haven't officially defaulted but we will when we close our account Friday. They won't know the check has bounced until Tuesday or Wednesday and by then I will make sure T & C contacts them first. Depending on how things go and hopefully financially will get better, then we may be able to pay them more, but we'll see. Anyone want to share?

Posted: Tue May 22, 2007 5:46 am Subject:

T&C will send them a contract....the PDL will either accept or reject the contract and then T&C will let you know....Once they accept it, then they won't sue you unless you stop paying the amount agreed upon

Posted: Tue Jun 26, 2007 2:10 pm Subject:

after you send them the start up fee when do you start making payments to them?

Posted: Tue Jun 26, 2007 2:59 pm Subject:

So far I have not been sued by any storefront lenders. I'm still be threaten by companies that if I don't pay by this day then they are turning it to the courts. I sent in my retainer fee to T&C back in April and been making bi-weekly payments since (4 total payments so far). I did have one company send me to a mediation hearing at the courthouse, but we were able to resolve our differences in that meeting. They wanted an extra 50 dollars a month and luckily I was able to do it. Your payment amount may jump from what they told you to once the companies get their propals from T&C. When I first called they said 102 bi-weekly and now I'm paying T&C 400 bi-weekly.

I've always read in here that it will look good in front of a judge to see you are with T&C. I'm not sure how it will go in a courtroom. The only thing I'm afraid about is if this goes to court that an abratitor will say you owe this. I'm always worried that it will not matter if I'm with T&C, since I legally owe the debt. I just don't know and crossing my fingers that no one files this in a court.

Posted: Tue Jun 26, 2007 3:40 pm Subject:

how soon after you sent the retainer fee did your payments start?

Posted: Tue Jun 26, 2007 5:45 pm Subject:

I'm hoping I won't get sued either. I have a feeling that Checkmate (storefront) won't accept the proposal but T & C also tells me that if they cash their check that means they've accepted payment anyway. CashnetUSA rejected the proposal from T & C but said they will still take the payment but collection actions will continue. I think that means they will keep calling (and they have) because they're not getting the payment amount they want. Tough toenails for them! They're getting their money, it will just take a bit longer. Today I got another nasty message from Mia, the collector from hell at Checkmate. I will just call T & C and see if they've heard anything.

Posted: Tue Jun 26, 2007 6:19 pm Subject:

My friend had 2 storefronts that she tried to use T and C for and they both rejected the proposal from them. However, she was able to negotiate payments with the storefronts on her own. That is standard for Cashnet...they will take whatever payments you send in but they will still call you; the payments apply to your account though so that is good.

Posted: Tue Jun 26, 2007 9:17 pm Subject:

I've already made arrangements with one storefront, Advance America, on my own. They were really nice and I did not include them with T & C because they are working with us. I have yet to hear from the other one through T & C. They refused to even talk to me once I told them what I could afford in payments per month and because they were so nasty with me, I am letting T & C work with them so I won't have to. I don't know if T & C has gotten any response from them or not. Next month, our state could vote in a new law requiring pay day loan companies to be required to offer 90 day repayment plans to customers who default. Right now, Arizona doesn't have any requirements that a payday loan place must work with you on repayment. Does anyone know if Dept of Finance and Banking has helped anyone in getting a pdl company to negotiate?