close bank acct. first or default?

Yes, so long as you are regular with your payments, the creditors will not be willing to settle your account for less. However, before you stop making payments towards your accounts, you should visit your bank and freeze your account so that the creditor cannot debit it. Once you default with your payments, the creditors will be willing to work with you for a payment plan.

Actually Check n Go IS a member of the CFSA and is bound by the terms of the CFSA Best Practices. If they won't abide by those practices they need to be reported to the CFSA and have their membership jerked from them. I would tell them those are your intentions! You can contact the CFSA at the link below to let them know one of their members are NOT abiding by their Best Practices:
http://www.cfsa.net/contact_us.html
The email is: [email]cfsa@multistate.com[/email].
You may need to contact the corporate office of Check n Go in order to get any resolution. The same goes for EZ Money.

By the way, based on other members posts here at this forum Check n Go can be very difficult to work with as far as the EPP plan, therefore, go right to the top and don't even mess around with the employees.

One more thing, the EPP plan is usually something you request BEFORE you default.

So should I freeze then close my bank account? When the PDLs try to debit my acct. will I be charged NSF only or NSF plus the negative amount of interest that will not be there? I know I probably sound confusing,sorry but I just don't want to get strapped with more fees that I can already not handle.Again since I live in Texas could I be prosecuted with fraud since all three PDLs a post dated check,Check n Go requires that you leave 4...What letter of unauthorization to debit my bank acct. do I send out to the PDLs and when? Thanks again in advance!

Its me again.Right I did request the EPPs yesterday and I have never been late in a payment and am not due to make payment again until Friday July 10.So when would be the last day I could Freeze/Close my bank account without breaking any laws?

I would absolutely freeze my account, but you need to let these lenders know that is what you have done, you also need to let them know you have every intention of paying them but have decided you no longer want them to have any rights to your account and have decided to pay them back via money orders (don't give them any more access to your personal account, old or new, by making payments with checks). You have the right per the EFT law to revoke thier rights to debit your account. You also have the right to stop payment on pre-dated checks.

Shazzers,Thanks so much for your advice.Is there a certain type of letter I should write to my lenders and when I do let them know that I have frozen my account and should it be before they try to debit it or after?

Since these are legal storefront lenders it should be an easy "fix". ACE has already set up arrangements. Done. ChecknGo should have honored the EPP, as long as you have not used it with them in the previous 12 months. Make 2 calls, one to the CFSA on Monday and the second to CNG Corp Office. Upon completion of these calls, DONE. They will make arrangements for the EPP very quickly. As for EZ, there are a few of them so verify if they are a member of the CFSA. If so, follow the same steps as CNG. If not, skip the store and call the Corp Office.

I've never been set on an EPP before so this would be the first time with all three.Should I still close my bank account in the event the other two lenders wont oblige?Do I tell the lenders I closed my acct. or say that the BANK did it? P.S.. Happy 4th of July.....LET FREEDOM RING!

ChecknGo will not be an issue, based on what you have stated they are violating the Best Practices. EZ Money, I am not sure, but would guess that you will be OK after you speak to Corp

I will call corporate first thing Monday morning. BUT... just in case I don't get the answer I am looking for from corporate and since my loans are due Friday when would be the last day of this week that I have to close my bank account?

Question. Do all states HAVE laws that storefronts must offer the EPP? I live in KY. Somewhere I heard that KY does not have to offer this service. I have never been late on any PDL, but it would help me a lot if they would do this.

No. There are some states that require an EPP, some that do not require but stores offer via CFSA and I believe that there are a few that do not allow an EPP.

Quote:

Can anyone please tell me,Do I mail/fax/email the letters of unauthorization to debit my bank account and contact refrences to the storefront PDLs or the corporate office?

Can anyone please tell me to whom I should mail my PDL Letters To Revoke Authorization? Should it be directly to the storefront lenders or the corporate offices.?

I would send it to both. The problem is that you are only revoking the ability to ACH. I still stand by the process of dealing with them verbally thru the Corp office. My advice is to be very honest and allow for a two-way dialogue. Do not try to "bully" your way to resolution.

Remember, you are dealing with legal, licensed lenders and not the anonymous internet lenders that will not listen or work with you.

Thanks for the quick reply PDLOwner.I just got off the phone with the corporate office of Check n Go and was told they could not help me out because my name was not in their system???? I explained to them that I just made a payment this past Friday and know they are CFSA members and would very much appreciate to be set up in a EPP.The lady told me "Sorry maam but theres absolutely no way I can help you out until I see your name".I told her I have never been late and would that be the reason for my name not being in the system.She said "That is most likely.We probably wont see your name till you default and I can't help you till then." Question,should I still close my bank acct. even if some PDlS are willing to work with me and some not? Every time I think "Okay I just took a step forward I get pulled back two steps." Any advice would be God Sent from this point on.Thanks all!

P.S. Does anyone know if EZ money in Texas is a CFSA member? When I personally spoke to them this past Saturday they gave me the same response as above.

I assume that you spoke with someone in Collections? If this was the case, they would not be able to see your account. I would call back and ask for someone in Operations, such as VP. If you have not defaulted, then this is the area that you need, not collections.

As for EZ Money, check the CFSA website or call the CFSA directly.

I called the called corporate number I was given by the Check n Go store and the lady I spoke to said she was from the corp. office.I'll keep trying and see what happens.I'm only trying to let them know of my intents to pay and hopefully someone different in corp. picks up the phone next time.Thanks again PDLOwner.

Search ChecknGo or CNG Financial in Mason, OH.