Cashnet USA

I would call them and ask about a payment program. If I remember correctly they were quite easy to work with.

Yes they are easy to work with as long as you pay them. Call and set up an EPP, you do not want to default.

i am dealing with cashnet usa right now too. when i called them they wernt bad as far as their courtesy and collection tactics. but the thing is if you owe them less than 1000.00 they will only do a 3x epp. i really wanted a 4 epp because i am trying to pay off other places at the same time but they wouldnt do it. but other than that i dont have any complaints about them so far.

So what happens if I do defualt? Are they harder to work with? What do you mean by epp? Electronic payment plan? Do I really want to give them my new checking account #?

i called them a few days before i defaulted, they basically said i had to wait for my payment to get returned, so i called back a few days later and told them my banking account was fried and not useable, then i asked for an extended payment plan. where they take the total amount you owe and break it down into payments, for cashnet usa 3 payments. just to be safe i wouldnt give them your new account number. they told me to get a prepaid debit card and put the money on it and just call them and they will just take their payments off the card. they were pretty easy to deal with, when i defaulted i told her i need a few weeks before i can start paying and she said that was fine i just had to agree to a date i would start paying. i think what everyone means by harder to deal with if you defalut is if you dont call them and try to work somthing out like any other collection agency they will call your job and your refrences, but as long as you make arrangments with them they wont bother you, i havent even recieved an email from them let alone a phone call.

Thank you, I just sent the collection dept. an email telling them that I closed my checking account due to illegal activity and that the payment would be returned to them. And that I wanted to set up a payment arrangement. Hopefully they will work with me.

I am dealing with Cashnet and I have them included in my debt management program. I had my counselor contact them and they let me do $105 a month on a $750 balance.

Cashnet did the same thing to me as far as 3Epp payments instead of 4. In AZ all other legal lenders have done 4 payments no matter what the loan balance is. Since they are legal and licensed to lend in most states, should they not have to follow the law of each state pertaining to EPP? So if my state says 4 can they be made to follow that? Does anyone know??

i'm not sure kfstaff24, the lady told me if my balance was 1000.00 or more i could do a 4 pmt epp. i think its just their policy. i read somwhere that they dont even have to offer an epp, that basically its just a state guideline they will or wont honor. i dont know if this is true or not i just remember reading it somewhere.

It does not appear as though cashnet usa is a member of CFSA. In most states, an epp is available only based on the lender being a member of CFSA. It is part of CFSA's best practices. If they are not a member and not subject to state mandated EPPs, then they are in no obligation to setup an EPP with 4 payments..

I stumbled on this forum and the info is reassuring. I am in for one payday loan with CashNet USA and recently defaulted (this past week). I am going to call and set up an EPP, but I am worried that they are still going to go after my bank account. Will the ACH debits stop as soon as I make a payment plan?
Thanks so much

I set upa a separate bank account I use just for PDL's. When this nightmare is behind me I will close the account. I have also used prepaid debit cards. My direct deposit goes to a different bank. I set up my EPP before default so I am not sure why they are telling others to default first. Makes no sense to me.

It makes no sense to me either but a PDL I was working with said the same thing. I tried several weeks before my loan was due and no dice.

I sent them the ACH revoke letter and no dice. They were not willing to even talk about a payment plan until I defaulted.

Most PDLs charge a $20 to $30 fee, depending on the state, for a defaulted ACH and they want that extra money to tack on to the principal.

Of course they do, after all it is all about their profit!!! Have a great day nohiogal.

Hi,

I am in the same boat right now with CashNEt. I sent them notification that my account was closed and that I will cooperate with their collections department and resume payments withing 30 days, just not through my checking account. They sent me an email that they will not set up any payment plan unless it is through the account on file. So I am assuming the thing to do now is to let them attempt the ACH. The bank has told me, in writing, that no transactions will be honored. I was considering replying to them, reminding them the account is closed, but I think they will try to put it through regardless, so why start getting wrapped up in it until it's gone to their collections?

i called them right before i defaulted and asked for an extended payment plan and they told me i had to wait for the transaction to get returned. i called back like 2 days later and worked out arrangments. putting money on a prepaid debit card is probably the cheapest way to pay them, that way you control how much and when they get it. beats paying western union and money gram fees.