What if I lied on a storefront PDL contract?

I think the fact that you lied may be a mute point now.

What you can do is try to ask for a EPP (Extended Payment Plan) from the store fronts before you default. They may give you one which would break the payment up into four equal payments over four paydays.

If you list the store fronts we can tell you if they are a member of CSFA which allow EPPs.

You also need to list the internet loans so we can help determine how to guide you more.

If you only paid extentions and nothing on the principal than you can not really count that as part of the payment on the store front loans but it may apply to the internet loans if they are determined to be illegal. Again we need the names of the all the loan companies. Also include how much you borrowed and how much was paid so far.

I live in AZ as well and have 4 store front loans. The reason you can get more than one is that they are not linked, their computer systems are completely different. Just set up EPP's with them and you will be fine. You must ask for it though before you default. For example if your loans are due Friday 12/12 go to the store today and set it up. If you do it this way you will owe nothing on 12/12 and they will extend you until 12/26. I just did this with two of my four and I am going to the other two stores today. Ask even if they do not display the CFSA sign.

Thanks for the responses...
My storefronts are: USA Cash, Payday Loan store, Paycheck Advance and Cash One.
My on-lines are: Cashnet and Zip19

Do you know if my storefronts are CFSA?
Two of them have already been defaulted on (Cash One and Payday Loan store) but I will go in Thursday to USA and Paycheck Advance to set up payment arrangements if that is what you advise.
What shall I do about the two that are already defaulted (due this past Monday but I closed my Bank of America account before they could process).
I received a call from both today telling me to come in and pay an extension and give my new checking information and everything would be fine (Yeah right like I'm going to do that!)

I belive that Cashnet may be legal in AZ. I had another post asking that and the response was that it was. I have to get on the wage attachment issue with Zip19 right away. I plan to fax them on Friday.

Any advice is helpful. Thanks so much!

Cashnet is legal in AZ. Go to www.cfsa.net and check to see if your storefronts are CFSA.

The two you deafaulted on should allow a payment plan, if not call their corporate office, sometimes the corporate level is easier to work with. Dont ignore them, if they are willing to work with you its better to work with them. Criminal action is prohibited in AZ but they can pursue a civil suit against you so it is best to stay in contact with them.

The other two you did not default on, you can call them and ask if they offer payment plans, if so you must go in in person and ask for it before it is due. Some non CFSA store fronts offer EPP's and some dont. Some allow a buy down which does not stop the interest but helps to get it paid off. Add funds to your roll over fee each time you go in.

Hang in there things will get better, it just takes time.

Quote:

who cares if you lied to them its not like they dont lie to us. i know in TN you can only have a certain amount BUT it is the payday loans responsibilty to check telecheck or what ever computer they use. now that does not tell them how many you have but it does tell them the last time you applied for one. so if they did what they were suppose to do then they could see that you applied for a few and then they should use common sense to not give you another one.

Just to clarify on what jworth72 stated, it is the customers responsibility to answer the question honestly, not the PDL company to verify.

As for the 2 that have gone past due, I believe that you said they offered for you to pay the fee to rollover. If that is the case, pay the fee this time and then request the EPP the day before your due date. You will then be in compliance and will qualify for the EPP. That is as long as they are CFSA members.

Also, nohiogal, PDL's are not a trap when used as created. Most customers appreciate the service and do not get themselves in trouble. Unfortunatly, there are the "few" that get in over thier heads and need help to get out. Instead of asking for help early, they continue to consciously borrow from more and more lenders and the snowball gets to big to handle. These are the voices that are heard loud and clear and also are the minority of our customers. They key to staying out of this group is to put your pride aside and ask for help sooner than later. Most licensed lenders will work with you, but you must get to the right level of management. Typically, the store personell and even the district level will not do much as it is not in thier authority. If you call Corp, you are more likely to get the assistance that yo need to get out of your PDL. Most importantly...

If you are going to borrow online, DO NOT borrow unless you can verify that they are licensed!!!!!! There are many licensed companies online (I do not have an online division) that are legitamate and members of the CFSA or FISCA that you can trust when you get into a jam and your family/friends cannot help.