Payday loan help

You can request an EPP (Extended Payment Plan) before you default on the store front loans. Since you have already defaulted on CheckSmart they may not allow it but you can try.

An EPP is a four payment plan spread over four paydays and it does not tack on extra fees. I have one now with CheckSmart and have two more payments to go.

Zip19 is illegal so I would not deal with them again if you don't have to.

Payday loans laws have changed in Ohio. I know some store fronts are offering alternative loans under a different small loan law but the fees are about the same.

I think Check into Cash is offering them the last I heard but the whole idea here is to get out of the PDL cycle not to keep borrowing to pay another one which is why most of us are here.

You can go to your bank and request a stop payment on the check from CheckSmart if they won't work with you. You need to talk to the bank manager about it and there may be a fee to do so. Mine charges $30. At least that way they can't keep attempting to deposit the check and cause you overdraft fees.

Once they can not get their money they are are more willing to work with you and might offer the EPP at that time if they won't work with you before hand.

One word of warning is that although you can put a stop payment on the check they may try and take the money out using an ACH, which may be illegal for them to do, but they might try it anyway because they don't care about the laws, just their money. You may be okay on this with CheckSmart though as they are a very large company and seem to follow the rules but I would review you contract. It might state they are allowed to submit an ACH if the check does not clear.

If you can close your account with out a lot of issues then you may want to go that route. I did not close mine. I put blocks on their ACH withdrawls and so far I have been okay but they were internet loans.

I would contact Checksmart ASAP. They more proactive you are the more they are willing to work with you.

Good luck and keep us posted and ask more questions if you need to :)

I did a stop payment on checksmart now they are doing an ach and they take like 115.00 at a time. That is bull****.

They are doing that to me as well. In the contract, it states that they are permitted to take out an automatic ach withdrawal for 1/4 of the amount until the debt is paid. However, you can stop this. As per the contract information(which unfortunately I wish I would have read before they withdrew $190 from me), you can send them a fax or letter to cease and desist any ach withdrawals from your account. They have to stop, as long as the letter was sent within a reasonable time period for them to process it. I would also recommend disputing the withdrawal with your bank as well. Putting a stop payment on a check, or closing the account could result in a bad check criminal charge, if they so desire to do so.

Here is what the contract states:

18. ACH Debit Authorization: In lieu of depositing the Check, at our sole discretion, or if you have not provided us with a check, by signing below you authorize us to electronically debit your Checking Account identitifed on page 1 on the Payment Due Date or at such time or times thereafter as we choose for all amounts due under this Agreement including any check collection charge and/or late charge. This authority shall remain in full force and effect until we and the Bank have received written notification from you of the termination of such authorization in such time and such manner as to afford us and the Bank a reasonable opportunity to act on it. You understand that you may cancel this electronic debit authorization by providing written notice to us at least five (5) business days prior to the Payment Due Date. You further understand that canceling that authorization does not relieve you of the obligation to pay the Loan in full.