PDL Crisis!! Help!

Well just from a quick look, Money Mart, Ace and Check Into Cash should allow an EPP. Ace is not a member of CFSA but they allow an EPP. I know this because I have done it with them. Money Mart and Check Into Cash are both members of CFSA. I believe Cash 1 is also legal but I would have to look to see if they are a CFSA member. I dont know anything about Ca Budget Finance.

You need to set up an EPP with these companies before you default so keep all your loans current until you are on the plan.

All QC Holding companies are CFSA members

reckless65
I would absolutely suggest getting some sort of debt consolidation loan if you can manage that. Depending on your credit situation but if you are able to get a payday loan then you should be able to qualify for some sort of debt consolidation loan.

Does anyone know approximately how much any of these companies would expect on say a monthly basis to pay back these loans?

What do you tell them? Just basically that you can't make it anymore or?

Thanks for any advice.

I think the basic EPP is to freeze the balance and pay it off over 3-4 payments.

The guest is right, usually you pay it off in four equal payments, the interest freezes.

Thanks everyone. But, I have a couple of more questions:

What is CFSA?
What does it have to do with whether or not said company will allow for an EPP?
What is recommended for someone in my position to say to these various companies so that they will allow me to pay this on a EPP?

Thank You!

CFSA is Community Financial Services Association.

Payday loan companies can become members and in doing so follow their rules of lending practices. One of the practices is allowing an EPP to their customers.

You need to request an EPP before you default and at least one day before the lloan is due.

Here is the link to their website.

If you click on the upper right were is says "Your rights as a payday advance customer" it will take you to more information.

Under the explore more title there is a link to "CFSA best practices". Then under there "industry best practices". The EPP information is #11. There is another guideline link in the exlaination that gives the detailed information. You may want to print it out and take it to the store.

Cash 1 is a member.

Make sure you ask the manager about requesting an EPP. Sometimes the regular employees do not know about it. If the manager refuses or denies there is an EPP option then contact the corporate office.

I did not have any problems when I requested mine but others have reported that sometimes the store employees and managers either don't know about them or deny knowing about them.

The corporate will know and make sure the store is following the rules.

When I got mine I did not have to make the first payment then but you can. I waited until my next payday.