Question about New Ohio Law

when the PDL laws in illinois changed 3 years
ago,people were automatically informed of the
change from the PDL.they could then payoff the
existing loan,or if the amount was enough opt
for the EPP.i don't know if that is what they
will do in ohio.

I don't know, but I'm sure wondering the same thing....I have one due tomorrow. I was planning on going in today asking for the EPP, however I'm scared now they won't take it. But I have no choice, its payments or nothing at this point. I've decided I will NOT be afraid of them anymore!

All of you are already in a signed contract prior to the new law. It must be honored. Never allow them to intimidate you, they feed off of that. :wink:

Ok I just called Checksmart, they will take the EPP and they will start payments next week on my payday. I asked what was really happening and the gal said, they are kinda just waiting, the vote was postponed for 2 days, she said once you pay off you could not reborrow. She said they may stay open until their license expire which would be in Decemeber, but if they do stay open they would only do check cashing and utlitiliy payments....

I just stopped in at Cashland during my break from work, and they said that I can start the EPP the day I am due. No problem there. Another of my storefronts (Ca$h-N-Go) is a local - they're not corporate - they said they don't know if they will take payments or not; their concern apparently is keeping the store open to accept payments; they won't be able to keep their lease after this month. They were totally clueless, but they reminded me I am under legal obligation to pay them back. I kept repeating, yes, I know, and I will pay them back. They were already on the defensive. Haven't talked to my others yet... Glad to hear Checksmart will take the EPP, they're another one of mine. Have no idea about Advance America, American Payroll Ltd., ACE, and National Advance, though. They may not accept T&C's proposals now at all if they, too, can't afford to stay open. Where would T&C send payment to? I am both thrilled that this passed, and incredibly frustrated not having answers.

I know that when Oregon passed it's new pdl laws, it really sucked for a lot of people because yeah, you can no longer rollover, and you have to pay every loan at the same time. This was before CFSA had the EPP in place for it's members, so that wasn't even a option.

asmostov, what's your plan? 7 is going to be tuff I imagine to do EPPs with...I'm on an EPP with one on-line now, with 3 more payments to go-- also with CheckSmart, starting next week, but I also have Express PRA, and National Cash Advance. I'm glad this is happening, so I can get out of this once and for all, but NOW, I have no idea how I'm going to work out 4 EPPS at once, while making all my living expenses. Anyone have suggestions????

Payday Loan Companies May Close
By Aaron Brilbeck
Posted: Thursday, May 15, 2008 at 6:25 p.m.

Like thousands of Ohioans, Dale Griffin of Toledo lives paycheck to paycheck. And, when unexpected expenses crop up he relies on payday loans to get by. "When you got to borrow money, like you might need that paycheck going on another bill. Then that'll get you along to pay another bill", Griffin says.

But members of the Ohio State Senate say, people like Griffin are getting ripped off by payday company's that charge loan shark-like interest. "They've been trapped in a cycle of debt from which they cannot escape.", says Democratic Senator Ray Miller. So the senate overwhelmingly voted to cap the interest rate payday lenders can charge to just 28-percent. But because the loans are generally only a couple of weeks long, the payday companies stand to make just penny's from every loan. Not enough, they say, to stay in business. Many of the more than 16-hundred payday loan companies across the state say, they'll be forced to shudder their doors for good if the bill becomes law, leaving more than 6-thousand people without jobs. The bill now goes before Governor Ted Strickland, where he's expected to sign it into law.


this was on our news website today.....fyi