Ohio Help
Date: Fri, 06/03/2011 - 09:47
My checking account is in NY, but I live in OH. Moved and did not change the account.
I want to pay the debt, but the amount they are asking for is more than I can afford at this time with changes in my life.
What steps should I take?
Did you take out the loan in New York? Payday loans are illegal
Did you take out the loan in New York? Payday loans are illegal in New York. In that case, you'll only have to pay the principal amount.
You can check out the following link to know about the payday loan laws:
http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html
Payday loans are legal in Ohio. If you've taken out payday loans
Payday loans are legal in Ohio. If you've taken out payday loans in Ohio, then you're liable for paying them in full. However, you can check out the Ohio Division of Financial Institutions in order to find out if the payday lender is licensed to operate in your state. If yes, then you can go for the option of debt settlement or debt consolidation (whichever suits your purpose) and get rid of the debts. If they are not licensed to operate in your state, then you can take a look at the given page in order to know how you can deal with them: http://www.debtconsolidationcare.com/paydayloan/illegal-pdl-dealings.html
Contact Check 'n Go's corporate offices via the toll free number
Contact Check 'n Go's corporate offices via the toll free number on their website. They're acting as a CSO. They should allow you to set up an extended payment plan. Sometimes, due to OH laws, if you've already renewed several times, the EPP is no longer an option.
If that turns out to be the case, you can simply revoke ACH withdrawal permission (via email) which will force the account to collections. Then, you can make a payoff arrangement with the collections people. If you stick to your guns with the collectors, they will generally work out a reasonable payoff arrangement with you.
I believe, when I did this, I owed (according to their records, with fees, etc.) about $1500. I was able to negotiate that down to a $1000 payoff (I'd already paid about $1500) in 4 MONTHLY payments of $250. I had to pay it with a debit card, but I got the monkey off my back and haven't been back.