OK EPP wont work-- they just looked at me like I was crazy
Date: Sat, 01/24/2009 - 10:13
desperate
tam
In order to help you, we need to get the following info: So yo
In order to help you, we need to get the following info:
So you're in SCarolina and it's a storefront? Which storefront? And I take it from the title of this thread that you asked for the EPP and they said no? Are you still current on the loan or have you defaulted?
Ia m current till Monday--- thats why i went to each this mornin
Ia m current till Monday--- thats why i went to each this morning hoping to handle it today..
# List the companies you have the loans with and whether it is a store front operation or an internet operation.
Check n GO
Check into Cash
Cash Advance America
All store front
# List the original amount of the loan for each account
600
300
600
I don't know why they are looking at you like you are crazy.
I don't know why they are looking at you like you are crazy.
Check n go and Check into Cash definatly have to allow them.
Have you tried contacting the corporate office?
no I just went to the offices I deal with.. I will try contactin
no I just went to the offices I deal with.. I will try contacting the corporate office monday. o geez.....
or i could just blow my brains out and let my family sort it out...
that isn't even something to joke about, the weakest way to leav
that isn't even something to joke about, the weakest way to leave this earth is suicide, the ones left behind are the ones punished.
Do yo have a printer? Print this out. It is the members list.
Do yo have a printer?
Print this out. It is the members list. Check and Go and Check into Cash are listed.
Second print this out. It is the Industry Best Practices. #11 talks about the EPP.
Third print this it is the guidelines for the EPP.
I could've sworn that Advance America was a member of the CFSAA
I could've sworn that Advance America was a member of the CFSAA as well? Wonder why they aren't doing it.
Advance America is but I was not sure if that was the same compa
Advance America is but I was not sure if that was the same company.
I just went through this myself. While I was still on the phone
I just went through this myself. While I was still on the phone with the Corporate Office of Check n Go filing my complaint, that fast I had a call on the other line and it was the Director of Operations. I said I am still on the other line how did you get the complaint so fast and he responded that it went directly to his laptop. He told me I was absolutely correct and he would call the store and tell them I was coming back in. Along with the EPP I also got the cold shoulder from the stores manager but who cares I am on the plan.
I figure I am gonna have to do that as well x 3... I appreciate
I figure I am gonna have to do that as well x 3... I appreciate your reply - It does help to hear from other who ave done it too !
and I apologize for the "blow my brains out earlier.. I have a sick child & no money and I am really on the edge..
I thought that defaulting was the only way--
If you asked a clerk at the store, could be what happened is the
If you asked a clerk at the store, could be what happened is they weren't informed about the CFSA better business practices and what they are all about. Speak to the Manager, if that doesn't help, then shoot an email to the CFSA, be firm and tell them one of their members are not treating you fairly and you are considering filing a complaint with the FTC about their (the lenders) poor business practices. Email them at: 'cfsa@multistate.com'
If you really feel spunky, call them at: 703-684-1029
Again guys, you will more tha likely not get any where with stor
Again guys, you will more tha likely not get any where with store personell. They are "programed" with the "no payments" response. As demonstrated in a previous post, the best way to handle a situation like this is to call the Corp Office. If you get "stone-walled" there, then call CFSA for members. Odds are that with the climate we are in, they WILL work with you at the Corp level.
They are programmed with the "no payments" response and are bank
They are programmed with the "no payments" response and are banking with people not knowing what their rights are. It pays to be proactive and stand up for yourself--because the PDL's are counting on the fact that we won't.
I will stand up for legal, licensed lenders. The reason for the
I will stand up for legal, licensed lenders. The reason for the "programming" is due to the verbage on the contract. The store personell is doing what they get paid to do, lend money and collect it within the terms of the contract and regulations of thier state. If you are looking for any deviation from the contract it is best to call the Corp Office.
You mention "rights" and I am not going to get into that discussion again because the conversation will just get ugly, legal lenders have the right to operate within the laws and regulations of their state and that is who we are discussing in this case.
Illegal, internet lenders, that is a whole different story...
You are correct that they make loans and collect money but I ver
You are correct that they make loans and collect money but I very much doubt that most of the store personel know the verbage of the contract or the laws of the state.
Just like they don't know about the EPP.
The store manager or the corp is where you have to go.
I think it sucks that they do not train the regular CSR with that knowledge. They don't on purpose so that when people do ask about payment options they are are told there are not any and I most believe that and then re-loan over and over and are stuck.
It happened to me for over a year. If I had known I probably would never even have come to this site for help as I would have gotten out of the cycle a long time ago.
When most people call about any service they assume the person at the other end knows what they are talking about.
Many "LEGAL" store front lenders are giving the wrong information because the are down right lying or due to lack of training.
nohiogal, I don't think it's so much as lying. I'm they are trai
nohiogal, I don't think it's so much as lying. I'm they are trained to get as much money for the store as possible. And by them not informing customers, they are making it possible for the store to make even more money.
You have a buch of rights and some wrongs. 1. Generally, the
You have a buch of rights and some wrongs.
1. Generally, the manager cannot approve deviations from the contract, thus I suggest to call corp
2. A PDL is built on the model of loaning money and having it paid back in 14-30 days. Generally, every 14 days. They are not set-up as an installment lender, which how a payment plan works. 99% of the Employee Manuals will state that payment are not accepted.
3. You're correct about the CSR statement, but in my opinion for the wrong reason. My experience is it is due to a low paid, high turnover position or a Manager that is a "control freak" in thier store or is in fear of training thier replacement. CFSA members are required to provide information about the EPP and should be reported if not doing so.
Unfortunately, you as the consumer have encountered a few bad apples and now feel that all legal PDL's fall in the same boat, which is not true be it my stores or anyone of the 100's of competitors that I have "shopped" all over the country. Just as you will have some poor employees at McDonald's, Wal-Mart or Home Depot, I would bet that you do not label the entire industry as poorly trained or a bunch of liars. Studies have shown that legal PDL's have the highest level of transparency in the financial industry.
BTW, I know that I will never win the argument on this site for
BTW, I know that I will never win the argument on this site for legal lenders due to your justifiable hatred of illegal, online lenders. We concur with your feeling about them and unfortunately cannot stop them. The fact is that we, legal lenders, have standards for loaning, collecting and compliance with state regulations. We are audited by our respective state annually and support the creation of legislation that protects both, the consumer rights and our ability to operate profitably.
You may not like our industry and that is your perogitive. Just as their are some that do not like fast food restuarants and therefore avoid them. It may not be for you and I applaud you for your dedication. The truth is that there is a need and demand for a legal product and your rights as a consumer should provide you with the opportunity to choose whether you want to walk into our stores or not. The bigger picture is that our elected officials are infringing on YOUR right to make a personal decision about your finances. Let the market decide if we fail or succeed, not a few congressmen and women who have never stepped foot in a store or spoke to the person that was greatful for the service.
You may not need us or want us, but there are many that do and should be able to make an adult decision to borrow or not.
You've made some very good points PDL Owner, I can't argue with
You've made some very good points PDL Owner, I can't argue with that, nor do I want to. My take on the reason why so many members tend to become defensive, and unwillingly reads some of your posts objectively is because you are a non-member, guest (if you will), who posts information (useful I might add) in an anonymous fashion. It would be beneficial to this community to have you became a registered member, ya think? :D
He has claimed before that he won't become a member because his
He has claimed before that he won't become a member because his personal email has his name in it.
Not like you can not create another email address in about ten seconds though.
I wasn't aware of the email statement, but yeah, just go to yaho
I wasn't aware of the email statement, but yeah, just go to yahoo or hotmail and create a new email address. Just sayin'! :D
There you go... Even though being registered or not should ha
There you go...
Even though being registered or not should have no bearing on the truth of my statements.
Shazz,
It is my opinion that the reason that some on here become upset by my statements is not because of my status as a user but instead based on the truth in my comments. All thta I have tried to accomplish was to educate the posters of the difference between legal and illegal lenders.
reply
you have done that.your info is relevant and non-judgemental.the info about going to corporate is right on.just give it time.you have to understand that a lot of people have been threatened,cussed at,and insulted.keep posting the useful info in an articulate manner and people will accept it.there are some people who do collections who are tenured members.there are some decent people in everything.again just give it time.any person actually in the pdl that speaks like you is new here.i for one welcome it.
You have done that but you also have always failed to see the tr
You have done that but you also have always failed to see the trap that some people get into.
If even one of the legal PDL store fronts had a sign up or mentioned an EPP to me I could have been out of the cycle years ago.
I used three of the biggest, CheckSmart, Check n' go and your precious Check into Cash. None of them had any information anywhere that mentioned an EPP.
Legal or not they still prey on people by not telling them they have options because they are not informing their customer service people of the EPP.
The bottom line is money. They get the same amount of money whether I pay it all at once or if I made four payments. They don't want the four payments they want me to take out a loan again and again so they can rack up more fees.
I am curious why you did not use PDL Owner as your member name?
I am curious why you did not use PDL Owner as your member name?
Unless every member comes in this thread they are not going to know that paydayloan1111 = PDL Owner.
I guess you will have to stop using PDL Owner and stick with paydayloan1111 so you can build up that creditablity.
I believe that the CFSA states that they should have info about
I believe that the CFSA states that they should have info about the EPP posted, but I will double check wit the Best Practices.
As for making the same money, you are both right and wrong. Since they/we are in business to make money, the only way that we make it is to turn the money over as dictated by our business plan. You are correct that on your one loan, they make the same amount of cash whether it is paid off in two weeks or two months. The difference is that they have lost revenue on the principal that you have and the fees that would have been paid if the loan was paid as agreed in the contract. So if you borrowed $300 with a fee of $45 and took the EPP for 4 biweekly payments, the lose 4 turns on the $300 or $180 and the ability to loan that $180 to other customers. All said, that EPP had an actual loss to them of about $250, not including man hours to work the account for the additional time. The $180 in fees will return a smaller amount due to not getting it all at once.
I'll check on the posting of the EPP shortly...
Quote: I am curious why you did not use PDL Owner as your membe
Quote:
I am curious why you did not use PDL Owner as your member name? Unless every member comes in this thread they are not going to know that paydayloan1111 = PDL Owner. I guess you will have to stop using PDL Owner and stick with paydayloan1111 so you can build up that creditablity. |
I wanted that, but when I signed up the system did not take the name that I requested and assigned me this one. I have added PDL Owner to my sig line.
Huh strange. I wonder why you can't pick your own name. Well
Huh strange. I wonder why you can't pick your own name.
Well at least it is in your sig.
Just send a PM to Jason. He should be able to fix it
Just send a PM to Jason. He should be able to fix it
Here is the information regarding the EPP from the CFSA website.
Here is the information regarding the EPP from the CFSA website...
[quote]11. Extended Payment Plan *. Each member will provide customers who are unable to repay a payday advance according to their original contract the option of repaying the advance over a longer period of time. Such an extended payment plan will be offered in compliance with any requirement in state law to provide an extended payment plan or, in the absence of such a requirement in state law, in compliance with the Best Practice ???Guidelines for Extended Payment Plans.??? A member will adequately disclose the availability of the Extended Payment Plan to its customers in compliance with any requirement in state law for such a disclosure or, in the absence of such a requirement in state law, in compliance with the Best Practice ???Guidelines for Extended Payment Plans.??? (Amended 7/21/08) CFSA members click here for guidelines ??
Member Guidelines...
CFSA Best Practices and Guidelines for Extended Payment Plans
Each member shall provide an Extended Payment Plan (???EPP???) for customers who are unable to repay a payday advance. Each member will offer such an Extended Payment Plan in compliance with any requirement in state law. If no such requirement exists in state law, then the member shall adopt a plan that offers the customer at least the following provisions:
1. If you [the customer] are unable to repay your advance when due, you may opt in to an EPP to pay the outstanding advance at least once in any twelve month period. Any outstanding fee will be included in the amount subject to EPP.
2. You must invoke the EPP by close of business on the last business day before the advance due date by returning to the office where you obtained the advance or by using whatever method you used to obtain the advance. To invoke the EPP, you must sign an amendment to your agreement reflecting the new payment schedule.
3. You may pay the transaction balance in four equal payments coinciding with your periodic pay dates.
4. We will not begin collection activities while you are under an EPP as long as you meet all obligations under the EPP.
5. There is no charge for you to enter into an EPP. However, if you default on an EPP, we may charge you an EPP fee and accelerate payment on the balance remaining, as authorized by applicable law.
6. If a state has adopted a requirement for a repayment plan in state law, members shall comply with those requirements. The CFSA Best Practices Extended Payment Plan may not be available to customers in states with statutory payment plan requirements. [/quote]
If a CFSA member does not abide by this practice and guidelines, I would advise you to call the Corp Office and if no assistance there, the CFSA. This was put in place to assist the customer and legitamate lenders.
I agree and that is why I linked to all of that on page one of t
I agree and that is why I linked to all of that on page one of this thread.
My issue is with the legal lenders who are members of CFSA but do not post the EPP option nor train their staff to even know what it is.
I think it is fine for only managers or corp to be able to set it up but at least make sure the information is posted and the CSR at the store know at least what it is and that if the manager or the corp need to be contacted.
That is why violations should be reported. You may think that t
That is why violations should be reported. You may think that they will ignore your call at corp, but I will tell you that most CFSA members take a call regarding violations of the Best Practices and customer service issues, whether founded or unfounded, very seriously. I can tell you from my experience that calls are made almost immediately to the appropriate members of management for investigation and resolution.
I understand that but most are not reported because the consumer
I understand that but most are not reported because the consumer does not know about them. When they do ask if there are payment options they are told there are is no such option which is what started this thread to begin with.
I mean how many people do you think have loans out right now that are struggling and taking loan after loan out because they do not know about the EPP? Can you honestly tell me that these legal lenders are not hiding the facts from their customers and doing it for the sole purpose of having them re-loan so they can get another fee?
Percentage wise I bet very few make it to this site or to the CFSA site and discover their rights.
I get your whole legal PDL companies are useful stick. I get that you are in the business and I get that you feel that the consumer should make their own financial choices and not let the government have a say in it. I really understand it all.
But some of these legal companies, and some of the largest ones at that, are not only breaking the rules but only one side of the team knows the rules.
Pretty hard for the consumer to ever win when they don't have a copy of the rule book.
I understand what you are saying, but from this side there is an
I understand what you are saying, but from this side there is an argument. The CFSA provides every member with a display that approximately 12x14 that list the Best Practices of the Payday Advance Industry. It has each item listed in detail and a telephone number, website address and I believe and email address at the bottom. They also have a smaller version (4x11) that the customer can take with them to read later. When I was with my former company, a CFSA member, we actually provided every new customer with a tri-fold pamphlet that included the smaller version. The pamplet also explained the purpose of the product and reprecussions of non-payment, including the inability to pursue criminal charges. As a frontline employee, we were not happy about the information as, if read, it really put control in the hands of the consumer.
Education is the key and that works both ways.
Quote:Shazz, It is my opinion that the reason that some on he
Quote:
Shazz, It is my opinion that the reason that some on here become upset by my statements is not because of my status as a user but instead based on the truth in my comments. All thta I have tried to accomplish was to educate the posters of the difference between legal and illegal lenders. |
Yay for you, ya joined! Educating the public is the purpose of this site, therefore, your comments are welcome. Although stating the facts aren't always in a members favor, it's all any of us can do.