check n go installment loans -Moreno Valley - is it a payday loan industry?

What state are you located in? As far as I know, Check n' Go do not fund the installment loans themselves, but offer them through their lending partner, the First Bank of Delaware. So in reality, First Bank of Delaware is who you should try talking to.

Due to state laws, Check n' Go recently had to stop offering First Bank of Delaware's installment loans in several states ( I had an installment loan with them here in California. Too bad I had FINALLY just paid it off about 2 weeks before they were forced to stop lending in California ), so it would be helpful if you could provide us with your state.

Sorry, I neglected to add that I live in Illinois. When I spoke to the store front, I asked about contacting them, and did not feel that would help.

Sorry, I neglected to add that I live in Illinois. When I spoke to the store front, I asked about contacting them, and did not feel that would help.

Interestingly, I just checked and it turns out that installment loans are not legal in your state, either, which means First Bank of Delaware can no longer loan to people in Illinois. I'm not quite sure how we can apply that information to an already existing loan. Personally, I think that if installment loans are no longer legal in your state, than your current installment loan should be void. Or at the very least, you should legally only be obligated to pay them the principle amount loaned, which you have already paid them and then some, which would mean they owe you the difference, which is about $363.

I hope someone with a little more knowledge in this area responds to your thread soon, as I am curious about this.

Thank you so much for the reply. It would certainly be nice if this could be settled by telling Check n go they are no licensed for installment loans.
If anyone can confirm this and let me know next steps, I would be very grateful.

Amaranth - how or where did you find out that installment loans are illegal in Illinois? I have an installment loan with Ck-n-Go too, and am curious to find out more!

Thanks!

If you go to either the Check n' Go or First Bank of Delaware website and try to "qualify" using your state information, it will also say directly on their websites that they are not permitted to loan to residents in the state of Illinois. So they are admitting themselves that they are not licensed to issue installment loans in Illinois.

Hmmm...now I am confused b/c so many store fronts here in Illinois (Check 'n Go included) actually PREFER giving installment loans to their customers b/c Illinois does not allow rollovers on PDL's.

I went to the Check 'n Go site and I didn't see where it does not say no restrictions for Illinois (I didn't go thru the application process), however, the 1st Bk of Delaware does restrict installment loans in Illinois - I believe b/c you have to actually be licensed in the state to lend - you cannot "piggyback" a license with a store front & a bank. Many states prohibit this now. It used to be more common.

Just an FYI, Advance America (AA) is licensed to lend, but it is actually a subsidy of Bank of America. Bk of America is not the lender, but since AA is a subsidiary of them, I am sure if they need cash, AA has access to it. Believe it or not, this is different than what 1st Bk of Delaware was doing.

If 1st Bk of Delaware doesn't fund the installment loans and Ck 'n Go does fund them directly themselves, does anybody know where they get their resources from?

So, I guess the issue here is, "is the installment loan legal or not?" I believe it is legal b/c 1) there are sooo many store fronts offering them and 2) if they were illegal, the state AG would've shut them all down by now. One is owned by a bank, the other was not owned but was trying to piggback on the license.

So how does this help the OP? Actually, it is information only. Where the checks you wrote all for the same day? Obviously, if you can borrow the money from a reliable source (not another PDL place), I would pay them off! If you can't, IMHO, I would close the account or stop payment on the checks (I know $27 each to stop pymt). Then I would ask Ck 'n Go (try calling another location) and ask them for their main office/collections department and call them to see if you can set up a pymt arrangement. Usually, in-house collections has a little more authority. BTW - When you spoke with the branch, did you speak with a manager? Usually they are willing to work with you. If you did and they were not helpful, call the main office.

Hope this helps. Let us know how it goes!

Go to the check no go website and click the big green box that says "installment loans".

In the box where it says, "check product availability", scroll to "Illinois" and hit "go".

Once you hit go, it gives you the following message in the box in red letters:

Unfortunately, Installment Loans are not currently available in your state. Our banking partner is developing improvements to the Installment Loan offering and we hope to make this product available in your state shortly. Please check back at a later time.

I just received a installment loan from Check N Go for $500 (6 month repayment period) and i live in California. Why was I able to get aloan from them?

GIVE IT BACK TODAY, GIVE EVERY PENNY OF IT BACK RIGH NOW. YOU HAVE THREE DAYS OR LESS TO GIVE IT BACK BEFORE YOU FALL INTO A DARK AND COLD BLACK WHOLE THAT YOU MAY NEVER GIT OUT OF. GIVE IT BACK!!!!!!1

Luke, I think the poster was making a point that installment loans are still available thru Ck 'n Go and that they are not illegal.

adams4045 :

I have no idea why they gave you one. Installment loans of that nature are currently not legal in California. Out of curiosity, I tried to "apply" for one through Check N' Go and got turned down on the basis that "they aren't allowed to provide installment loans in the state of California". That's the only basis for turning me down- because I have had installment loans out with them before and have always paid back on time, so I'm in good standing.

In the state of California, the maximum Check n' Go can loan is $255, and there are no payment schedules or rollovers allowed- all of it including the $45 fee or less is due on your next payday.

In California they may not be legal (I am not positive on this one), but in Illinois (where the OP is located) they are very much legal.

did some looking at the AG'S website and they are looking to regulate installment loans in somewhat the same way as pdl's.
went to check-n-go website yesterday and got the same message that amareth got.if you have an existing loan you should pay it as agreed.i just see changes coming to illinois as far as installment loans go.they might be legal still,but the terms might change drastically.

That's a relief that the State of Illinois is FINALLY paying attention to this issue! These PDL places found a way around the new PDL regulations by issuing installment loans instead, which basically looked, smelled and I bet, tasted like PDL's!

It just doesn't help soon enough for those who have installment loans now.

Thanks for everyone's responses. I have not talked to the store manager, but I did speak to the person I have been dealing with consistently there. I told him I just don't have the money right now, and I would continue to make every effort to pay them, but right now I cannot make any promises. If they do deposit my checks, they will bounce, (unless my bank pays maybe one of them). I think I will have to just see how things play out and try to gather some money to pay them. They will have to wait though, until my mortgage issues are taken care of. As I told them, if I can't clear up my mortgage, I will have to file for bankruptcy.
Thanks again to all that responded.

Good luck to you! Pleases let us know how it turns out!

The installment loans are NOT illegal.We took them out of some states to do some restructuring. They will be available again shorty. They ARE funded by First Bank of Deleware. So call them.

Please do not take this persoanly cng, but I hope that all "Payday Loan" stores are closed and soon.

Check n go doesn't even have installment loans offered on their website anymore. and if you go to the First bank of Deleware they said at this time thet are no longer giving anymore installment loans as per a phone call I had with them.
So since they are now illegal in the state of Indiana I think does that mean my loan thru them is now null and void. I have made payments so far totaling more then the original loan was for. PLEASE HELP

i think you would still owe on the contract as originally agreed.i would try to pay it off asap.looked again and yes,CHECK-N-GO
really isn't doing installment loans anymore.it could just be certain states.i know illinois is one of them but,you if you have an installment loan with them i would think you still owe it under your original contract.these aren't PDL'S the terms are different.

GOOD GAWD,not another idiot spam-bot.this is a scam.

I have a relative that works for check n go. The difference is that the stores and online is 2 totally different things. banks provide the online loans where as they do not through the stores. Not to long ago banks were not lending in Illinois which stopped people from getting loans via online thru check n go but they could still go to the store and get one and YES, they are very much legal in Illinois and should be regulated like the payday loans are.

if you have a installment loan in california from think cash/first bank of delaware and received it in 2007 , was that illegal on their part to give me the loan, if so what can i do to not pay off this loan and recoup some of the money. i borrowed 2000 and have paid them back 2400.00 with another 1300 due

It isn't illegal for banks to do installment loans or any other kind of loans as long as they follow the laws of the state where they are chartered. Unlike nonbank ipdls, banks have specific exemptions under federal law that let them "export" interest rates to other states. The FDIC and the OCC don't like paydays or high-interest installment loans and hound the banks with ticky-tack violations until they quit. (Kind of like a cop writing a bunch of extra tickets to someone that mouths off at him.) These tactics have worked very well and First Bank is one of the few that still makes these kind of loans. But unless Congress changes the laws, the regulators don't have the power to declare them illegal.

Choose Michigan and you receive a message stating "Installment Loans on not currently available in the state you have chosen." I have had one previously, so something has changed in Michigan as well.

Choose Michigan and you receive a message stating "Installment Loans on not currently available in the state you have chosen." I have had one previously, so something has changed in Michigan as well.

are installment loans from first bank of delaware legal in the state of califronia

INSTALLMENT LOANS ARE NOT ILLEGAL....PAYDAY LOANS WITH USARY INTEREST RATES ARE....IF YOU HAVE APPLIED FOR AN INSTALLMENT LOAN WITH CHECK N GO THRU BANK OF DELAWARE OR BANK OF MARIN, THAT WOULD BE EQUIVALENT TO TAKING OUT AN AUTO LOAN OR PERSONAL LOAN AT YOUR BANK....SORRY GUYS ILLEGAL OR NOT YOU STILL OWE THE FUNDS AND CAN HAVE LEGAL ACTION TAKEN AGAINST YOU FOR DEFAULT

Ok so i work for a law office that collectes on check n go loans,after u are late on ur payments and they cant get a old of u it will go threw the collection cycle then a law office ware u may b persued for it.the interest and late fees will keep adding up

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i don't believe they work for a law office shazz.just another collector playing law office.

Can I get a installment loan for 1000.00

Joan, we are not a loan provider. We are a forum dedicated to helping other get OUT OF DEBT. If you're looking for a payday or short term loan, my advice to you would be to look around this forum at the stories of others who've done so and then RUN THE OTHER WAY!!!