Arizona Law

There is no new law, the vote was to extend the period that allows payday loans availability. Since the vote failed, there is a tentative date of June 2010 I believe.

That is correct PDL owner the sunset law is 2010.

so what does that mean? in 2010 are they going to shut down in arizona?

Yes or change the product to try to fit into the regulations. They will also be working with legislature to craft new regs before then.

yeah its just too good to be true to have all the pdl places close down overnight. it seems like they showed up overnight.

Some may go away but the larger ones will be here possibly with installment loans or like PDL owner said a product to meet AZ regulations.

PDL owner what is the best way to work with storefronts that are not CFSA unwilling to do EPP's? I value your input on this forum and I am hoping you might be able to provide some insight on this.

Thanks for comment...

There is really no sure fire way, but it has always been my opinion that the higher up the ladder that you go will get you better results. I have given the direction to my staff that they are not to make payment arrangements because it becomes an easy way out for them when a customer goes past due. If there are payments to be made, I want to be the one to approve them so that we do not become an installment lender. Will I always approve an EPP if the calls get to me? No, I will evaluate the situation and the history of the customer and base my decision on that. As you have probably noticed, I have always recommended that people on here contact the Corp Office and avoid the store manager when there is an issue. That is based on the fact that they store personell have been given the same instructions as I have given my staff. If you want to get an exception, go as high up that ladder as possible because they are more concerned about "perceptions" and have the ability to approve an exception to policy and procedures. If the Corp avenue does not work, try contacting the state agency that oversees the PDL businesses. Generally, we will follow thier input as we do not want to get on their bad side and they will recommend "taking care of the customer".