logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Need Help with Payday Loans in KY

Date: Thu, 10/02/2008 - 21:05

Submitted by anonymous
on Thu, 10/02/2008 - 21:05

Posts: 202330 Credits: [Donate]

Total Replies: 4


I thought I had these under control, paying them each week and trying to take the amount down by $25.00 each week. But now I am pregnant and am only getting 10-15 hours a week at my job and cannot pay these off. I need to know what to do. Any advice has to be helpful at this point.

What I do when I pay on them is pay the amount owed plus fee and then re-borrow usually for a smaller amount or the same.

Cash Tyme....$150.00....W/Fee 176.45

Cash Express....$200.00...W/Fee 230.00

Check-N-Go....$150.00....W/Fee 176.47

These are all store fronts and I live in Kentucky.

I can't take this stress anymore, my baby is due in exactly 2 months and I will be out of work period for at least 6 weeks. I am really scared for the health of my baby and the stress i am under right now. Thanks for any help!!!


In Kentucky the check cashers can lend in accordance with the following terms: -
Quote:

Maximum Loan Amount: $500
Loan Term: 14-60 days
Maximum Finance Rate and Fees: $15 per $100
Finance Charge for 14-day $100 loan: $17.65
apr for 14-day $100 loan: 459%


Debt limits are: -
Quote:
Maximum Number of Outstanding Loans at One Time: Two ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (cannot renew, rollover, or consolidate)
Cooling-off Period: None


lrhall41

Submitted by on Fri, 10/03/2008 - 03:16

( Posts: | Credits: )


Call them up and try to offer a settlement in writing for .50 to every dollar owed. Offer 1/4 of every dollar, and chances are the " Predator Lenders" will bump it up to 50%. When they do that, tell them that " You are a Chapter 7 Waiting to Happen and you can't pay a dollar more then what you are offering them. You consulted your Financial Advisor and Attorney and they told you that you want a settlement in writing. Also, stress to them that you want to do the ethical thing and pay them, however you can't pay more then the settlement amount, or you will be forced to file Chapter 7 Bankruptcy. They may or may not settle, but it's worth a shot. Good Luck!


lrhall41

Submitted by on Tue, 05/05/2009 - 10:32

( Posts: | Credits: )


Derby
Store fronts are legal. If they are members of the cfsa, they have to offer you the EPP. Extended Payment Plan.This has to be requested prior to defaulting. I believe 1 or 2 days prior. They will break your payments into 4 monthly payments.

Guest above my post..the op said that they are all store fronts, therefore all legal


lrhall41

Submitted by on Tue, 05/05/2009 - 10:47

( Posts: | Credits: )