Ohio StoreFront Payday Loan Question
Date: Tue, 12/28/2010 - 07:57
No. What is a EPP and should I ask before I go into default?
No. What is a EPP and should I ask before I go into default?
Yes, you need to ask BEFORE you go into default, here is the Ohi
Yes, you need to ask BEFORE you go into default, here is the Ohio revised code below that explains it, you might need to take a copy of it into the store with you when requesting an extended payment plan because Check n Go is notorious for stating they don't provide it.
Ohio Rev. Code Ann. 1321.35 et seq.,
1321.39 Short-term loan requirements and restrictions. Section (D)
[QUOTE]
The loan contract includes a provision that offers the borrower an optional extended payment plan that may be invoked by the borrower at any time before the maturity date of the loan. To invoke the extended payment plan, the borrower shall return to the office where the loan was made and sign an amendment to the original loan agreement reflecting the extended terms of the loan. The extended payment plan shall allow the borrower to repay the balance by not less than sixty days from the original maturity date. No additional fees or charges may be applied to the loan upon the borrower entering the extended payment plan. The person originating the loan for the licensee shall identify verbally to the borrower the contract provision regarding the extended payment plan, and the borrower shall verify that the provision has been identified by initialing the contract adjacent to the provision.
[/QUOTE]
Lizzie, Great advise has been provided by Shazzers regarding yo
Lizzie,
Great advise has been provided by Shazzers regarding your question. I'm glad to see that, because I've read posts on this forum, that those who answer provide wrong information. That is the last thing any of us need. If I read a post, but don't know the answer, I don't respond. Other's on this forum, should do the same!
If the EPP is too much, pay $25-$50 extra on the payment for one
If the EPP is too much, pay $25-$50 extra on the payment for one of the accounts each time. This will reduce the amount and increase what you can pay in subsequent payments. Not sure about FA, but Cashland can be a bear to work with.
Did I miss something? Do you have a loan with Check n Go or was one of the posters above confused when they brought them up?
I only have a 2 storefronts with First American and Cashland. C
I only have a 2 storefronts with First American and Cashland. Called Cashland yesterday and talked to Corporate Office. They said they can divide it up into 4 equal payments which would be $252 every 2 weeks. I cannot do that. I could do $150 every 2 weeks, but they would not accept that. Any further advice?
That really stinks, that Cashland would not work with you. I ha
That really stinks, that Cashland would not work with you. I had a run in yesterday with Thinkcash because my last payment was 27 cents short, so they started calling yesterday wanting to know when I would be paying the 27 cents. I told her it was added to my next payment Jan 5th and I was told OK, we will charge you $4.14 per day interest on 27 cents. I replied the day I made my payment I had asked if there was any late fee's or penalty's I was told no, and she responded, you didn't ask the right question. I should of asked would there be any additional finance charges. I replied it is going to cost you more to process 27cents then what it is worth. I told her I have half a mind not to finish paying you off because this is ridiculous, and she responded OK go ahead and the aggressive collections will really start.
All of these people as such a-holes, I'm so sorry I ever got involved with PDL's and installment loans, and that I now understand why people just can't take it any more!