I am in a dilema!

I just got off of the phone with Payday One about 20 minutes ago. I sent them an e-mail and mentioned that I knew that they abided by the CFSA EPP (Extended Payment Plan) and wondered if they could help me with a payment plan to pay off my loan. I mentioned that I had been rolling it over continously and needed to get it paid off. I also mentioned that I had always been current on my loan. It took them one day to respond and I worked with a great lady. She stopped all interest and split my amount due (572.50) into 5 payments beginning July 31st...she even asked me if that date was too early for my first payment when my original payment would have been due on July 25th. I was shocked at how easy it was. I make 5 payments of 114.50 and I am done with Payday one. They are a Legal internet lender and are willing to work with you.

I don't know about CashNet, but you should follow the "getting started" sticky on this site and see if they are illegal. Follow the directions from there and you will be well on your way to getting out of this mess i promise you!!

Something is a bit out of whack here. Internet lenders are NOT members of the cfsa. That and the EPP only apply to store front lenders and the norm is 4 installments.
Either way, I am glad it is working for you
Also, I had payday one and I am in a state where pdl's are not legal, so to say they are legal can be misleading.

Payday one is a legal lender. They are licensed in the united states. That info came from this website, my states list of licensed lenders and their website as well. They are a subsidary of Think Cash who is licensed to do business in the US. Think of Check and Go...they offer loans on-line and store front. Why they offered me 5 payments rather than 4 I do not know, but I was grateful for them working with me either way.

If you don't mind me asking...what state do you live in? They have a list of every state that they do not do business in on their site and those states are states where pdl's are not legal. Just interested

I am in Mass

Im just interested..... Why are you singing the praises of this pdl? Do you work for them??

That is weird...when did you get your loan? I don't have the Mass lending laws in front of me but PD ones site says it does not lend to Mass residents.

work for them? HELL NO! I am happy that they were willing to work with me and that they were so professional on the phone. They are the ONLY lender so far that has been willing to work with me. I want them paid off and want nothing to do with a pdl for the rest of my life.

I got it 4 1/2 months ago. I did pay it off, and was offered another. I constantly get e mails from them trying to re loan to me. You really can't believe what these companies say. My friend in in NY and got 12 loans and pdl's are prohibited in NY. That is why these companies are illegal

Wow, that is crazy. There is a miscommunication of legal and illegal going on here. When I first came to this site I did what everyone else did and listed all of my lenders and one of the moderators helped me determine which ones were "legal" and which ones were not--I live in KS. I must admit though that this community has helped me out trememdously.

It may very well be that they are legal in your state, but that does not stop them from lending illegally in other states.
In any event. I am glad it worked out well for you.

You will get your other pdl's cleared up also. It just may take a bit of time.
I was reading some old threads about this company and in August of 2008 they supposedly stopped lending in NY and other prohibited states. Looks like they started again. Every post does however say that they are easy to work with.

Im glad they are willing to work with you fortmoore. I would sure like to have the name of the lady you talked with.

I called CashNetUSA first and they informed me that they do not offer EPP nor would it be able for me to revoke the ach agreement.

Then I called Pay Day One and got exactly the same answers from them. Also, Pay Day One informed me that since I have not even made the first payment to them, that also may constitute fraud on my behalf.

Also, CashNetUsa does claim to be a member of CFSA and also a member of BBB

I quote this from the CashNetUsa website:

"As members of the CFSA, CashNetUSA and other leading payday loan companies have a dedication to providing the highest level of customer protection. From online security features to customer-dedicated privacy policies, online payday lending is designed to offer safe & secure solutions."

Keisha, I spoke with a woman named Summer. When I sent the e-mail I quoted language directly from the CFSA website. You can tell them that they are required to work with you since they are members - you can report them and should if they will not. Check out the CFSA info on this site and also check out their website. It will give you great info to use. If your state has a specific EPP they have to use that, otherwise, they need to offer you an EPP that follows the guidelines listed on the CFSA website. I hope this helps!!

Thanks to everyone so far for all the info. Everything I can learn helps me know the ins and outs. So far this has been very confusing to me, but I am starting to get a grasp on how they really work.

I should have never gotten myself in this shape to begin with, as it has been nothing but a nightmare!

This site (blog) is the best thing I have found so far! Everyone here is understanding and are willing to help. You all dont realize what it means to have just a little peace of mind.

Thank all of you!
Keisha

"Something is a bit out of whack here. Internet lenders are NOT members of the cfsa."

according to their online websites and BBB they are cfsa members.

Who are??

SOAPLADY

In a previous post a guest said: "Something is a bit out of whack here. Internet lenders are NOT members of the cfsa. That and the EPP only apply to store front lenders and the norm is 4 installments.
Either way, I am glad it is working for you
Also, I had payday one and I am in a state where pdl's are not legal, so to say they are legal can be misleading."

Both pdl companies, payday one, and cashnet usa, are licensed and legal.

You can revoke your ach transaction agreements under federal law.

Have you already sent the revocation letters?
If not you better get them in the mail. Sometimes it can take up to 10 days for them to get processed. I would also send them an email of the revocation letter.

Keisha it appears you live on a very tight budget and I think when you explain this to the pdl companies and they see you are doing everything you can to work out a payment plan they will work with you. By you being on disability they really do not have any other course of action, as they can not garnish disability benefits.