Please Help in SC!!!
Date: Fri, 01/09/2009 - 14:30
You have to follow the pdl laws of your state: - Quote:South Ca
You have to follow the pdl laws of your state: -
Quote:
South Carolina State Information Legal Status: Legal Citation: S.C. Code Ann. 34-39-110 et seq. Loan Terms: Maximum Loan Amount: $300 Loan Term: Max: 31 days Maximum Finance Rate and Fees: 15% Finance Charge for 14-day $100 loan: $15 apr for 14-day $100 loan: 390% Debt Limits: Maximum Number of Outstanding Loans at One Time: Not Specified Rollovers Permitted: None Cooling-off Period: Repayment Plan: Collection Limits: Collection Fees: Lesser of: NSF fee of $10 or actual charge Criminal Action: Prohibited Where to Complain, Get Information: Regulator: South Carolina State Board of Financial Institutions Address: Consumer Finance Division, P.O. Box 11905 Columbia SC 29211 Phone: (803) 734-2020 Fax: (803) 734-2025 Regulatory Contact: C. Dean Bratton,, Commissioner of Consumer Finance |
Why don't you settle the huge pdl debt by the help of a good debt settlement company?
Most store fronts will allow you to get an EPP, Extended Payment
Most store fronts will allow you to get an EPP, Extended Payment plan but you must request one before you default.
They can split the initial loan into four equal payments over four paydays.
If you default the store fronts will deposit the original check into your bank account. If they bounce then they will be sent to their collection department.
You will also get a NSF fee for each one that bounces at your bank. You may be better off to contact each and see what arrangements can be made.
Go to the CFSA website and check to see which store fronts are m
Go to the CFSA website and check to see which store fronts are members. They must allow you an EPP, however, there are some store fronts that still offer the plan even if they are not members of CFSA. You can also call each store front and ask if they offer an EPP but do this prior to defaulting.
Guys, the EPP is a wonderful tool to get out of a PDL or 2. In
Guys, the EPP is a wonderful tool to get out of a PDL or 2. In the case of the OP, with 12 loans out, there is no way that they will be able to handle the payment required by the EPP. In this case, they need to contact the corp office, spell out EXACTLY how far they are buried and beg for their assistance. In most cases, they will work out a better repayment plan so that they can "cut thier loss".
In a climate where there is noise of new legislation being introduced, the last theing that any one wants is to be the headline in a story about how a PDL company caused a person financial hardship.
When you contact the corp office, have all of your loans listed on a paper in front of you, maintain calm and explain your situation. Contrary to what you may want to believe, most storefront operations will work with you and not against you when you get to the correct person. The store level personell are not generally able to make decisions on payments where as the executives have the authority.
With 12 loans, you are in very deep and need a better payment plan than 4 equal payments.
Thanks. I've contacted several consolidation companies and none
Thanks. I've contacted several consolidation companies and none of them handle pdl's.
Have you tried PDL assistance or Langhorne? If you do a search
Have you tried PDL assistance or Langhorne? If you do a search you will find some info about them.
I would consider what PDL owner said, be honest and up front with the companies and more than likely they will work with you.
