NC resident needs advice on SC storefront PDLs
Date: Wed, 03/25/2009 - 12:34
I am an NC resident with 4 internet PDLs and 4 PDLs from storefronts in SC. I have found out that PDLs are illegal in NC and I think I've read enough in the forums to stop the internet PDLs, but how should I manage the storefront PDLs? I am broke right now, my wife hasn't worked for a year and I'm about to have my salary cut by 12.5%! I am thinking about closing my bank account before the internet PDLs hit on the 30th, and putting stop payment orders on the checks for the storefront PDLs, then contacting the storefront corporate offices and making arrangements for low monthly payments to repay the principal only. Is this a good idea? Should I wait until they go to collections? Are they even legal considering they loaned to an NC resident? I have had the storefront loans for about 8 months and I'm paying $630 a month on interest.
Any help would be greatly appreciated. The storefront loans are due this Friday 3/27/09.
Thanks.
Who are your storefronts with? They will be legal and you will
Who are your storefronts with? They will be legal and you will need to pay what you owe, principal and fee.
I thought I read in another thread that SC storefronts cannot le
I thought I read in another thread that SC storefronts cannot legally make PDLs to NC residents. I am willing to pay the principal but I cannot afford the $630 / month fees. What can I do? Should I contact the storefront corporate offices to make arrangements?
Quik Cash, Check N Go, Ace Cash Express and Advance America
Quik Cash, Check N Go, Ace Cash Express and Advance America
Check N Go and Advance America are members of CFSA which means y
Check N Go and Advance America are members of CFSA which means you can request an extended payment plan. They can split the loan into four equal payments over four paydays. I had one and they did not require the payment that day. I made the first payment on my next payday.
You need to request the loan BEFORE you default and at least one day before the loan is due. You also must stick to the payment plan.
Quik Cash is not a member but they may still offer an EPP.
Ace is a real bear. They really harrass and threaten their customers if they default. They are really ugly.
I guess my best suggestion it to try an EPP with the two and then reloan on the others. Then when the others are paid off attempt to get an EPP with Quik Loan and move on to Ace.
You definately need to call the storefronts and request an EPP.
You definately need to call the storefronts and request an EPP. Make sure you do this before your loan payment comes due. If they refuse to honor your request contact their corporate offices.
As for Quick Cash they may offer an extended payment plan yearly. So call and ask before your loan comes due.
How much are each storefront loan amounts?
I owe Quik Cash, Check n Go and Advance America $600 each, and A
I owe Quik Cash, Check n Go and Advance America $600 each, and Ace Cash $300. Trouble is with an EPP it would be more money than just renewing.....which I don't have right now. I've seen ads for payday loan consolidation on the web, do they work?
That is why I asked the loan balances. In some cases if the fees
That is why I asked the loan balances. In some cases if the fees are hard to keep up with, an EPP may not be an better option dependant on the loan balance. Just by doing the figures an EPP will cost you $375 each pay not including the finance charges.
I suggest if this is not an option for you right now, call their corporate office and see if a alternate payment plan can be reached. It is worth a shot.
PayDay Loan consolidation works for some folks. However it can be more expensive to ay for a service you can do yourself :wink:
You can search for some of the companies here. I think there are
You can search for some of the companies here. I think there are PDL assisitance, Town and Country and some other ones.
They do charge a fee.
Can you try do at least one EPP?
I don't have much more advice here. If you do default they will submit the checks you wrote them if you do not put a stop payment on them.
Most will call you at work, home and references to try and get their money. Most do not like to work out payment plans that are lower than what the EPP offers and that is not available once you default.
Did they know that you were a NC resident when you took the loans? I do remember a post similar to this a while back. I will search and see if I can find what the outcome was.
*FYI* Defaulting can be risky due to the collection tactics thes
*FYI* Defaulting can be risky due to the collection tactics these companies may use. It can be quite annoying if you ask me. These are Legal lenders, however sometimes defaulting may be your only option to get back on track as well :? I am stuck with any other advise here.
Maybe more will be along with similair experiences to offer you more help. Hang in there.
As always, I suggest that you call the corp office to discuss th
As always, I suggest that you call the corp office to discuss the situation. Generally, they will put you in contact with a VP or Regional Manager and in this day and age, you should be able to work something out. Do not go in thinking that you hold all of the card, they are legal lenders and this is not the first time that someone has called in your situation. Be very upfront and honest about the situation, if you go in like a bull in a china shop, they will do nothing.
As for an SC store lending to an NC resident, unless something has changed, there are no issues. The regs of the state where the storefront sits are what is ahdeared to, not where you live.
Thanks for the advice so far guys......I'll be calling some debt
Thanks for the advice so far guys......I'll be calling some debt consolidation companies tomorrow to see if they can help.