Advance America

That's great news puddle, but when I dealt with mine even though they were easy to deal with told me they still had to submit it of the NSF.

ladybug

puddlejmpr - is this nationwide, or on a state-by-state basis?

Some states do not have provision for payment plans within their state PDL laws. :-(

From what they understand it is through the whole company. Bo the thing is, you have to go in and tell them that you can't pay for some reason or another and to ask for the installment plan. They won't cash your check. I know that when I dealt with them my check had to go back NSF and then I made payments after that. But for this you have to go in ON your due date and request it after you tell them you can't pay the roll over. The paperwork has to be dated the day you are due. And on that day all interest stops. They do not tell customers about this because you know how some people can be. In my state I don't believe they HAVE to provide a payment plan. So hopefully this is good news for some people.

do anyone know anything about huskhawks,or clearwater marketing. those pdl online. I gave them all my info. Now I'm scared!

Hi Kori...we can certainly help...might be easier if you start a new thread since this one is about Advance America. :)

I bet this is because of the CFSA's new policies . . . They are a member.

Wow! Are you serious? Is this correct for all states? That is great news! I haven't heard of the CSFA.

It's the CFSA - Community Financial Services Organization. Frogpatch has also posted some stuff about them before.

It's pretty much a lobby group for the pdl's:


CFSA members must abide by the following Best Practices:

Full Disclosure. A member will comply with the disclosure requirements of the state in which the payday advance office is located and with Federal disclosure requirements including the Federal Truth in Lending Act. A contract between a member and the customer must fully outline the terms of the payday advance transaction. Members agree to disclose the cost of the service fee both as a dollar amount and as an annual percentage rate (???????apr???????).

Compliance. A member will comply with all applicable laws. A member will not charge a fee or rate for a payday advance that is not authorized by state or federal law.

Truthful Advertising Revised. A member will not advertise the payday advance service in any false, misleading, or deceptive manner, and will promote only the responsible use of the payday advance service. (Effective 5/31/2007)

Encourage Consumer Responsibility Revised. A member will implement procedures to inform consumers of the intended use of the payday advance service. These procedures will include the placement of a ???????Customer Notice??????? on all marketing materials, including all television, print, radio and on-line advertising, direct mail and in-store promotional materials. (Effective 5/31/2007)

Rollovers. Members shall not allow customers to rollover a loan (the extension of an outstanding advance by payment of only a fee) unless expressly authorized by state law, but in such cases where authorized the member will limit rollovers to four (4) or the state limit, whichever is less.

Right to Rescind. A member will give its customers the right to rescind, at no cost, a payday advance transaction on or before the close of the following business day.

Appropriate Collection Practices. A member must collect past due accounts in a professional, fair and lawful manner. A member will not use unlawful threats, intimidation, or harassment to collect accounts. CFSA believes that the collection limitations contained in the Fair Debt Collection Practices Act (fdcpa) should guide a member's practice in this area.

No Criminal Action. A member will not threaten or pursue criminal action against a customer as a result of the customer's check being returned unpaid or the customer's account not being paid.

Enforcement. A member will participate in self-policing of the industry. A member will be expected to report violations of these Best Practices to CFSA, which will investigate the matter and take appropriate action. Each member company agrees to maintain and post its own toll-free consumer hotline number in each of its outlets.

Support Balanced Legislation. A member will work with state legislators and regulators to support responsible legislation of the payday advance industry that incorporates these Best Practices.

Extended Payment Plan (New). A member will comply with a separate code of Best Practices for Extended Payment Plans, which provides customers who are unable to repay a loan according to their original contract, the option of repaying the loan over a longer period of time at no additional charge. A customer shall be allowed to utilize an Extended Payment Plan at least once in a 12-month period. A member will adequately disclose the availability of the Extended Payment Plan to its customers. (Effective 7/31/ 2007)

Military. A member will comply with a separate code of Military Best Practices that addresses the unique circumstances of active duty military customers. These special consumer protections include, among others: a prohibition on the garnishment of military wages or salaries and on contacting the military chain of command to collect payment; and the establishment of financial literacy initiatives that will benefit service men and women.

Internet Lending. A member that offers payday advances through the Internet shall be licensed in each state where its payday advance customers reside and shall comply with the disclosure, rollover, rate, and other requirements imposed by each such state, unless such state does not require the lender to be licensed or to comply with such provisions, or the state licensing requirements and other applicable laws are preempted by federal law.

Display of the CFSA Membership Seal (New). A member company shall prominently display the CFSA Membership Seal in all stores to alert customers to the store????????s affiliation with the association and adherence to the association????????s Best Practices.

Only problem is there are few, if any, internet based companies that belong to this group. Mainly only storefronts.

And I'll bet that the internet lenders would not follow regulations as well as storefronts, either. But, this is good information to have. I'll bet alot of people with storefronts don't even know that the new installment plan is an option. This could help alot of people!

Thanks for all of the information, Puddle and Goudah. :-)

Actually, California Check Cashing, which is a storefront in CA, also follows this. So it must be members of this group who are doing it.

Yeah, it is members of this group. I have a members list posted somewhere here, I'll have to find the link. None of the internet companies we see on a daily basis are on there. It's really only storefronts and companies that really follow all the laws to the letter.

Here's the link to their member list:

http://www.debtconsolidationcare.com/paydayloan/members-licensed.html

The only two internet based companies that I see on there are Cash Net USA and Cash Central . . . . But I only did a quick glance too, so there could be one or two more . . . .

So when I go to Advance America....I don't need to bring any other paperwork with me? I borrowed $500.00..so will i pay 4 installments of that or $587.50 (the loan plus the fee)?

Also...do you know if I would pay an installment on the day I go in and ask for that plan?

Not with Advance America. The day you envoke the EPP they push your first payment to your next pay date usually. You do have the option of paying that day if you like. Just make sure you ask the branch manager at that location not a service rep. Good Luck! :P

I just wanted to let everyone know about my experience. I went in to Advance America this past Friday (on my due date) and was told that the EPP was only for people who have already defaulted on their loan. So now I have to let the check hit my bank with a $37 NSF fee and Advance America will charge me a $30 return check fee. That makes me SO MAD!!!!! So I'm gonna have to let that happen so I can start the process...I guess. I'll keep you guys posted. :?

I was supposed to go in last friday to pay but I don't have the money. I'm on installment 7 on a $1000 loan. They want me to pay 2 payments this friday to get caught up, but I just can't do it. Should I go in with this EPP letter on Thursday?

I just received a call from a rep from Advance America. She told me that in the state of Alabama they don't offer the EPP. HELP!!!

can anyone help me with what I should do? i'm supposed to go in and pay 2 payments tomorrow, but have no money to do so.

The EPP is for members of CFSA. it can only be used once in a calendar year and you must not be past due. That means you must come in prior to your due date. Some states have their own EPP plans that trump the CFSA or do not allow the EPP as it is written with the CFSA..

The payday loan storefront you are with also CANNOT collect another check for your remaining balance.

If you default on any payments, the full amount becomes due and full collection proceedings can start. Some companies will be more flexible than others on this.

so basically I have to pay the 2 payments and then before the next due date, invoke the EPP? I"m in illinois by the way and it is an installment loan with advance america storefront

Installment loans may not qualify for an EPP. I do not know enough about Illinois laws but I would doubt the EPP applys to them.

They are a CFSA member. I'm supposed to pay them tonite. Please help me on what to do or propose to them.....

they're starting with their reminder calls, first to the cell, then to the work. I haven't answered the calls yet. I'm not sure what to do here....HELP!

Marlin40, so are you behind 2 payments? How did they let that happen :? Well I would go in and plead the best repayment plan possible to the Branch Manager directly. Do not ignore them, becuase they can file a judgment for the full amount plus interest, Advance America is legit. So keep up the communication. Call them today from work and explain your situation. They may be able to put you on a paymnet plan if they send your account to their corporate headquaters. Stay strong and firm, and most important be Honest! :wink: