payday one loan

Is EPP available in your state? What state are you in?

Here a discussion related to Payday One EPP: -

Payday One EPP

i called paydayone right before i defaulted, i told them what was going on and that i would need an epp, they told me my payment had to get returned first, so after the payment got returned i called back and set up an epp. they were the easiest for me to deal with compared to some of the other companies i am dealing with.

Its nice to know they are working with you, good luck.

I called Paydayone today to see if they could put me on an EPP because I have just been paying interest for MONTHS and nothing on the principle. They were very nice and put me on a 5 payment schedule...they froze the balance today so that I don't accrue anymore interest. They didn't mention anything about having to default on a payment first. I was very happy with the customer service and I feel like I am climbing out of this payday trap one step at a time! YAY!

Congrats! :D

Payday One is licensed in every state where they make loans. While no pdl is good, they are one of the few that acts like a legitimate business.

I too called PayDay One yesterday to set up a payment plan. I was told I would either have to make 5 interest payments, then call back and be set up on a payment plan which would be broken into 5 payments, or let the payment be returned and then they would work with me. They were very nice and helpful. Even though I had planned to try to pay them in full this month, I think I may let this one default and break it into 5 payments to make my budget a little easier.

Payday One is NOT licensed in every state where they make loans! As determined on another post, in states where internet loans are illegal, their loans are just as illegal as the others are.

What states are they lending into where they aren't licensed besides PA where they're allowed to make loans under another state's license, at least till Feb. 1?

They made loans in KY were they have to be licensed in that state and they are not.

Payday One has made loans in KY. ALL internet payday loans in Kentucky are illegal!!!!! It states this specifically on the Kentucky Department of Financial Institutions website in the FAQ section under payday loans.

if they are illegal in ky how can they be licensed in ky. check their website they list the 32 states they are licensed in and ky is on that list.

All internet loans are NOT illegal in KY. Your info is wrong. Payday one is licensed to lend in ky as are hundreds of others. Licensed in a state = legal in that state

They can claim that if they want. The Kentucky Department of Financial Institutions websites SPECIFICALLY states that
"Internet payday lenders are not regulated in the state of Kentucky and are therefore illegal. " That is copied straight from their website in the FAQ section under payday loans. Storefront (cash cashers) are permitted however, no rollovers are allowed.

i'm not trying to argue i'm just saying why would they advertise on their website that they are licensed in kentucky if in reality they are not. maybe they found some kind of loop hole or somthing. maybe thats a question we should ask the kentucky dfi.

The Kentucky DFI says that "ALL internet payday loans are ILLEGAL". One PDL is just like another. There is NO type of legal internet PDL in the state. Also per DFI , they have no record of Payday One being licensed in the state at all. This means for storefront, as those are the ONLY type of legal PDL in the state.

You are correct Hello321. ALL internet loans in KY are illegal.

PayDay One has always seemed on the up and up so I am not sure what law they are getting around or if they are simply breaking the law.

i dont know how true this is but its part of a reply i got from our good friends over at ARM of Florida

"Both parties agree that this note and your account shall be governed by all the aplicable federal laws and all laws of the jurisdiction in which the lender is located, regardless of wich state you may reside,and by signing below or by your electronic signature, you consent to the exclusive exercise of regulatory and adjudicatory authority by the jurisdiction in which the lender is located over all matters related to this note and our account. forsaking any other jurisdiction which either party may claim by virtue of its residency."

so if this were true, (i'm not saying it is because i really dont know) then that would mean internet payday loans can be illegal in any state but as long as the person agrees to this then it doesnt matter what state you are in. like i said i dont believe anything that comes from a slimy 3rd party collection agency, i'm just trying to find a reasonable explination.

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PayDay one was also one of the easiest places that I dealt with.