CheckSmart in Ohio Question

This is one for PDLOwner, keep checking back for replies.

Very simple. You do not have a loan under the payday loan laws, you have a loan under the standard loan laws. When the new legislation went into effect, the state advised PDL companies that wanted to continue to operate to get a "Loan License". That would be what they are operating under. Rest assured, they are in full compliance with the state regs as they a HQ'd in Ohio and fauoght a tough battle to keep the ability to do business under the old regulations. By the way, Ohio once had some of the toughest regs in the country that allowed a PDL company to stay in business and make a profit. The Gov. flipped and put alot of people out of work with his legislation.

PDLOwner: Does this mean CheckSmart is a CSO and has to offer extended payments? Just curious.

No, they are not a CSO. You may get an EPP if they are operating as a PDL, but I think that we dispelled that already. My experience is that they will not offer payments.

BTW, here is thier license info for Ohio.

Ohio License #CC700000, SM501585

You can search it, but I would bet that it is a Loan License since thier website states that they offer consumer loans.

Thanks PDLOwner. I did have a loan with CheckSmart and used my bonus to pay them off in full. I was just curious.

If Checksmart isn't willing to accept payments, what do you suggest?

Checksmart is usually pretty easy to work with. If they won't accept payments and you can't pay in full, you will have to default on your loan and set up a payment arrangement with collections.

Thier collections deptartment still stands firm on the full payment requirement, but once it goes to a 3rd party things get better. They will try to get the PIF, but are very willing to work out reasonable payments if needed. I am very familiar with thier primary CA's and in the end, they just want to get paid for collecting the balance owed as quick as possible. As for the length of time in in-house collections, I am not sure. One thing that you can count on is numerous calls though.

I definitely don't want the numerous calls. If other places are easier to work with then Checksmart, I may try working out payments with the other places and just keep reloaning with lesser amounts from Checksmart until they are paid off. I really can't deal with it if they start calling my work and friends. If it were just my cell they called, it wouldn't bother me as much.

I have an interview for a parttime job on Tuesday. Hopefully this information will give them more incentive to work with me and to get it paid off faster.

Unfortunatly, the calls are part of the collections process. The more you ignore the calls, the more calls are made.

Good luck on the PT job!