EPP plans
Date: Sat, 05/30/2009 - 12:55
Anyways, i do actually have a question for anyone who might help me get the information i need.
I have 2 store front payday loans out (as i mentioned in my previous post). Ive called one of the places so far, Money Tree, and they were suprisingly VERY helpful. The guy i spoke with told me that he would hate to see me waste my one time use of the EPP and that he would just hold my check until my rent free payday on the 22nd, which is when i will be going in to pay the full amount off. So that went over very well, i was shocked.
The second place ive made my phone call to today was Check-n-go. When i mentioned the epp she instantly sounded irritated with me, which i expected since they dont get a lost of customers who ask about it apparently, lol. But when i told her that i would like to set one up she told me that she would only be allowed to hold my check for 2 days after it was due and then she would send it to the bank so it went into default, and THEN she would be able to set me up under an EPP. She has mentioned that this was nevada law in order to get set up on an EPP but i found it very odd that she told me that she wouldbt be able to hold my check when i know for a fact she can because that is what money tree is doing for me. I guess my overall question is does my check actually have to go to the bank, bounce and then come back to them before i can get set up on this plan? I feel like she really isnt wanting to work with me and just wants me to end up paying an additional 25$ fee for the check being returned.
Click the link below and refer to number 11., print it out and t
Click the link below and refer to number 11., print it out and take it to the store, remind them that as members of the CFSA they must adhere to these rules or you will have to file a complaint against them with the FTC and the CFSA. :)
http://www.cfsa.net/industry_best_practices.html
I think it does have to be in default in Nevada. EPP is a CFSA
I think it does have to be in default in Nevada. EPP is a CFSA best practice, not an actual law. It is a requirement for lenders who are members of that organization to offer EPP. Sometimes though, a state will have a different set of laws that trump the EPP.
To give anothe explanation, members of the CFSA must abide by th
To give anothe explanation, members of the CFSA must abide by the stronger practice/regulation between the CFSA and state.
An example would be roll-overs. In states where roll-overs are permitted, the limit is 3 or what is designated by the state. In WI, there is no limit so the members follow the Best Practices which states a maximum of 3.