Checkngo EPP question
Date: Sat, 11/03/2012 - 03:07
I am getting ready to call checkngo to try to get an EPP. I am in Ohio and this was an internet loan. It was also an installment loan.
I am perfectly willing to pay the balance I owe. I was the idiot that got myself into this and I am responsible.
My question is about the installment loan part. Is EPP even an option with those? I am just curious as to what I will be met with when I call. I just can't afford the huge payment anymore. The interest rate was like 300+ percent, which I know is illegal in Ohio, but they are licensed in Ohio and even based with storefront in Ohio, so I am assuming they have found a legal way around the 28% limit.
But, maybe there is something someone on here can tell me that will help. I apologize if my question is already in someone else's post on here. I have scoured as much as I can and I am trying to act quickly.
I know a lot of the cost with this loan is the "CSO" fee. I am assuming I will have to pay every bit of that even if I can get an EPP.
Thanks for your help.
I am perfectly willing to pay the balance I owe. I was the idiot that got myself into this and I am responsible.
My question is about the installment loan part. Is EPP even an option with those? I am just curious as to what I will be met with when I call. I just can't afford the huge payment anymore. The interest rate was like 300+ percent, which I know is illegal in Ohio, but they are licensed in Ohio and even based with storefront in Ohio, so I am assuming they have found a legal way around the 28% limit.
But, maybe there is something someone on here can tell me that will help. I apologize if my question is already in someone else's post on here. I have scoured as much as I can and I am trying to act quickly.
I know a lot of the cost with this loan is the "CSO" fee. I am assuming I will have to pay every bit of that even if I can get an EPP.
Thanks for your help.
I am not 100 percent about this but the EPPs should work for ins
I am not 100 percent about this but the EPPs should work for installment loans as well. You will first have to go through their local office which might give you the run around if you ask about the EPP. If they do, call their corporate office. They have a little more flexibility when it comes to this.
As for the interest rates and fees, when you opt for the EPP, the interest on the loan is effectively frozen and the remaining balance in your account is divided up and spread over 4 payments.
