Legal or not

Welcome lponzie,

The storefront lenders usually are licensed lenders. I also see you have two installment agreement loans, yikes. Check link below for state payday lending laws. Looks like MO allows payday lending with specific details. Installment are not covered under PDL laws, their interest rate caps are governed under a different laws. I am sure others will be along to help you with that.

paydayloaninfo.org/stateinfo/MO.asp

[quote]American Check Casher $500 (Storefront)
Check into Cash (loanbyphone) $170 (Internet)

I also have two installment loans :
King of Kash $600 (Storefront)
Noble Finance $400 (Storefront)[/quote]These are Legal and you may need to contact each lender specifically to see if you can arrange an reasonable repayment plan. Let them know you are financially strapped, and you cannot afford to repay the loan in full but are seeking a affordable plan. It does not hurt to try, closing your account will trigger collection calls, etc. See what they can offer you first before defaulting.

[quote]Check City $425 (Internet)
Star Loans $ 200 (By phone...although, they have storefront locations)[/quote]Not too sure about licensing for these lenders. You may need to contact your states Dept. of Financial Institutions for accurate licensing information.

OK...I may try tackling this on Thursday. I just have a scary feeling nobody will help me out. I had previously contacted some of my PDL's and they always just want to split up what you have left to owe them into 4 payments...but, I really need them to make smaller payments. We'll see what they say. :(

[quote]had previously contacted some of my PDL's and they always just want to split up what you have left to owe them into 4 payments...but, I really need them to make smaller payments. [/quote] Yeah this is the extended payment plan they are referring too. In some cases it is unaffordable, I suggest speaking to them constantly to try and work out something else. Do not be afraid the worst they can do is say no.

I have read some of the other messages about Check City. IS it legal in MO? I did the loan online. I had to default with them...basically, because I forgot to set up a payment with them last week. Now I have an e-mail from them...telling me I owe them the whole amount and that I can pay with a credit card. Yeah right...if I had a credit card...I wouldn't be in this mess.

I defaulted on my American Check Casher loan 3 weeks ago. I called and explained to them I couldn't afford to pay. So far, I haven't heard another word from them. I'm hoping they will just write me off as paid because I have paid them $1000's of dollars in fees over the years (yes, I said thousands).

In regard to my question about Check City...I searched the MO Dept of Finance database for Check City. Nothing came up. So, I entered CCO (the name they use when they make withdrawals from my bank account). I found this : http://finance.mo.gov/licenseesearch/index.php?formPost=1&xpt=0&license_num=&name=cco&city=&zip=&type_code=&B1=Submit

Since there is no 'Charter/License Number' listed...does this mean they are illegal?

Thanks for any help!