PAYDAY LOAN

Fred---you have come to the right place to seek some advice. Read through the posts in this section and ask lots of questions. Many, many of the people who come to this site have had problems with payday loans. Good luck

Hi- you may be able to handle your payday loans yourself without getting another company involved, but that all depends on some basic information.

I see you are in Vegas- could you please provide us with a detailed list of the following:


*How many payday loans you currently have out

*Their names/aliases and whether or not they are storefront loans or internet ones

*The original amount you borrowed on each loan, and how much you have paid back so far, including any extension/rollover fees

After we get that information, we can better assist you and help you decide what your next step should be ^_^

*How many payday loans you currently have out
*Their names/aliases and whether or not they are storefront loans or internet ones
The original amount you borrowed on each loan, and how much you have paid back so far, including any extension/rollover fees

I HAVE 3 PAYDAY LOANS OUT.

1. $400.00 (PRINCIPAL) AFTER INTEREST I PAY $72.00 BI WEEKLY....CASH-1 PAYDAY LOAN COMPANY...STORE FRONT.

2. $700.00 (PRINCIPAL) AFTER INTEREST I PAY $124.00 BI WEEKLY....RAPID CASH PAYDAY LOAN COMPANY...STORE FRONT.

3. $ 700.00 (PRINCIPAL) AFTER INTEREST I PAY $124.00 BI WEEKLY...CHECK CITY....STORE FRONT.

I ALREADY HAVE PAID INTEREST ON IT 3-6 TIMES AND IT IS LIKE TREADMILL JUST KEEP ON PAYING INTEREST AND I AM GETTING NO WHERE. NOTHING IS GOING TOWARDS PRINCIPAL.

ANY HELP WILL BE HIGHLY APPRECIATED.

THANX

FRED

Hi Fred, thanks for your patience.

The good news is is that your storefront lenders are all members of the CFSA, which means as long as you request it before you default on your loan, they have to offer you an Extended Payment Plan, in which typically, your total amount owed is broken down into 4 equal payments upon which no further interest is accrued. Most establishments only allow for you to do EPP once a year with them, so as long as you haven't done an EPP within the past year already, they are obligated to allow you to set one up. However, some places require you come in and set it up up to 3 days before you default ( your due date ) and some require that you come in and set it up the very day that your loan would have been due. It varies from storefront to storefront ( as I have found ) so cover all your bases and give yourself ample time and clearance to call each company and find out what their exact procedure is for setting up an EPP.

Another option you have is to just default ( not advocating it, just saying it's an option ) and then have a settlement company go in and deal with the storefronts for you. I guess it comes down to how you want to handle it. With an EPP, you will be paying back 100% of what you owe, just over a period of time ( usually about 8 weeks ). If you have a company settle for you, they may settle what you owe to a smaller amount, but of course, you will have to pay the company fees for their work anyway.

Hope this helps!

I WENT TO CHECK CITY STORE FRONT AND EXPLAINED THEM THAT MY CAR BROKE DOWN AND I THINK I MIGHT DEFAULT ON THIS PAYDAY LOAN THIS COMING PAYDAY AND IF THERE IS ANY EPP AVAILABLE FOR ME TO TAKE ADVANTAGE OF. THEY TOLD ME TO WAIT TILL IT IS DEFAULT THEN CUSTOMER SERVICE WILL GET INVOLVE AND THEN ONLY THEY WILL HELP ME OUT......THIS DIDNT SATISFIED MY QUESTION AND DOES NOT MAKE ANY SENSE....ONCE I DEFAULT I THINK THEY WILL DEPOSIT MY CHECK AND THEN THEY WILL HARRESS ME TILL THEY ARE PAID. I ALSO WENT TO CREDIT COUNSELLING SERVICES AND THEY TOLD ME TO TURN IN ALL 3 CONTRACTS TO THEM AND THEY SAID TO ME, IT IS UP TO THE CUSTOMER TO PAY WHATEVER I CAN AFFORD MONTHLY....IT IS NOT UPTO THEM TO CALL THE SHOTS....THEREFORE I TURNED EVERYTHING TO THEM TO HANDLE.
PLEASE ADVISE IF I AM ON THE RIGHT TRACK.
THANX
FRED

IS TRUSTED CITIZEN ADVANCES (ONLINE INTERNET) A MEMBER OF CFSA. PLEASE ADVISE. THANX. FRED.

Fred, I'm going to go ahead and post your pdl laws.

Nevada State Information here

http://www.debtconsolidationcare.com/paydayloan/explain-pdls-laws.html

Fred, don't listen to them (Check City) about waiting to make arrangements AFTER you default, the EPP is only available BEFORE you default. Tell them if they won't offer you the EPP you are going to report them to the CFSA. If they care to remain a member, they must follow the terms of the CSFA, and that is giving the the EPP if you request it. It almost sounds like they are setting you up, either that or the employee who stated for you to wait until after you default doesn't know what she/he is talking about. Insist on the EPP BEFORE you default, if they refuse, tell them you are filing a complaint with the CSFA if they won't comply with your request.

If you have a problem with the lender that is not resolved to your satisfaction and/or you feel that the company has violated a CFSA Best Practices, you may file a written complaint by writing CFSA at the following address:
Community Financial Services Association of America

515 King Street
Suite 300
Alexandria, VA 22314

or send an email to cfsa(at)multistate.com.

do as shazz advises,but talk to the manager.tell them what
shazz said to say.they have to honor an EPP request.

IS TRUSTED CITIZEN ADVANCES (ONLINE INTERNET) A MEMBER OF CFSA. PLEASE ADVISE. THANX. FRED.

HERE'S A DEAL.....I WENT TO CHECK CITY AGAIN AND THIS TIME I TALKED TO THE MANAGER DIRECT AND SHE WAS VERY COOPERATIVE AND CONCERN AND WAS READY TO HELP ME. MY LOAN PAYMENT IS DUE ON 21st. OF JULY AND SHE TOLD ME TO COME ON SUNDAY BEFORE CLOSING TO SIGN UP A DIFFERENT CONTRACT TO MAKE 4 EQUAL PAYMENTS SARTING NOT THIS BUT NEXT PAYDAY.

THEN I WENT TO RAPID CASH AND I TALKED TO THE STORE MANAGER AND HE WAS WILLING TO ACCEPT THE 4 EQUAL PAYMENTS BUT HE WANTED PAYMENT TO START THIS PAYDAY WHICH I REFUSED. THEN HE TOLD ME TO COME ON SUNDAY BECAUSE MY PAYMENT DATE IS ON 21st. OF JULY....HE WILL CHECK WITH HIS SUPERIORS AND THEN HE WILL LET ME KNOW THE OUT COME.

THEN THE LAST PLACE I WENT TO WAS CASH-1 AND I TALKED DIRECT TO THE STORE MANAGER.....THEY GAVE ME A RIDICOLUS SENARIO ON THIS TOPIC. THEY WERE WILLING TO ACCEPT 4 EQUAL PAYMENTS FROM ME BUT NOT TILL MY CHECK GOES TO THE BANK FIRST AND THEN IT COMES BACK AS NSF AND NOT TILL THEY HIT ME WITH $25.00 NSF FEE AND NOT TILL MY BANK CHARGE ME $27.00 NSF FEE. THEY GAVE ME A REASON...ARE YOU READY FOR THIS....ACCORDING TO THE STORE MANAGER " WHY I SHOULD WORK WITH YOU WHEN YOU ARE MAKING ALL TIMELY PAYMENTS ON TIME IN THE PAST....WE WORK WITH THE PEOPLE WHO ARE HAVING HARD TIME PAYING THIS PAYDAY LOANS" HAHAHAHA
I GOT THEIR NAME AND TOLD HER LEMME SLEEP ON IT AND I WILL LET HER KNOW.
FOR SHIT AND GIGGLES I TOOK MY SPY AUDIO TAPE RECORDER WITH ME TO RECORD ALL 3 LENDERS.
I AM WAITING FOR YOUR VERY VERY VALUABLE INSTRUCTIONS AS TO WHAT STEP I SHOULD TAKE NEXT.

FYI I AM VERY SERIOUS TO PAY OFF MY PAYDAY LOANS AND NEVER TO BORROW AGAIN SO THAT I CAN SLEEP BETTER IN THE NIGHT.

THANKS.

FRED

Now Fred, not to make light of your situation, cuz Lord knows there is nothing funny about these slugs, but what the heck does. . . . FOR SHIT AND GIGGLES . . . mean? That's a new one on me and I thought I had heard them all! That was too funny! It does my heart good to see some humor in this, otherwise disasterous, situation. Seriously, pleae keep us posted on your progress.

SHIT & GIGGLES MEANS IF SAY OH SHIT! OR JUST GET A LAUGH OUT OF IT. WHICH EVER COMES FIRST.

Thanks Fred. . .I have never heard that expression over here on the East Coast. I think will give it a try when the opportunity presents itself!

WELL "CHECK CITY" AND "RAPID CASH" BOTH GAVE ME EPP ie. EXTENDED PAYMENT PLANS WITH OUT ANY RESISTANCE. THERE IS A UPHILL BATTLE COMING WITH CASH 1 PAYDAY LENDER WHO ARE STICKING WITH THEIR GAME PLAN AND THAT IS LET THE CHECK GO TO THE BANK AND LET IT COME BACK BEFOR THEY CAN OFFER ME 4 EQUAL PAYMENT PLAN.
ANY SUGGESTIONS FROM ANYONE AS TO "HOW TO TACKLE THIS ONE". ANY ADVISE WILL BE HIGHLY APPRECIATED. THIS PAYDAY LOAN PAYMENT IS DUE BY 6.00 PM 7-22-08.
THANX
FRED

Are they members of the CFSA? I think we established they are?? Shoot an email to: cfsa(at)multistate.com and tell them what this company is suggesting, make sure you put in the subject line, "Time sensitive Mail" so they will answer it promptly!

THANK YOU SHAZZERS FOR YOUR VALUEABLE ADVISE. I WILL EMAIL THEM RIGHT AWAY.

PER YOUR INSTRUCTIONS AND WITH SPECIAL WORDING "TIME SENSITIVE MAIL" I NEVER RECEIVED RESPONSE BACK SO FAR.....I WONDER WHO SUPERVISE THE SUPERVISOR ???????
THANKS ANYWAY. I WILL TAKE THIS ISSUE HEAD ON. WISH ME GOOD LUCK.

Good luck Fred and keep us posted. You should sign up as a member...we could use your sense of humor:)

If they are CFSA members, the PDL knows good and well a customer needs to envoke the EPP before loan default. I am sure you are not the first customer who has defaulted on a loan or even entered an EPP. If the loan is in default status, a full payment will be required. If they are saying you need to envoke EPP after loan default that is against CFSA policy. I would bring a printout of the CFSA policy to PDL location and show them. Who's to say they won't change their minds after you have defaulted :roll: That is bad business to me, and a little risky :( Godd Luck! I will post CFSA EPP link so you can read it.


http://www.cfsa.net/public_education_campaign/guidelines/guidelines_extended_payment_plans.html

WELL, I WENT BACK AGAIN TODAY AND OFCOURSE WITH MY TAPE RECORDER AND ADVISE AND PRINTED PDL FILE FROM ANYAROBERTS, AND I DID POINT IT OUT TO HER ABOUT THE RIGHT THAT I HAVE AND AS A CFSA MEMBER THEY SHOULD HONOR THIS 4 EQUAL EPP PAYMENT PLAN....THEY TOLD ME THAT THEY GO BY WITH NEVADA PAYMENT PLAN ONCE CHECK COMES BACK FROM MY BANK AS NSF. I ASK HER IF SHE ABIDE BY CFSA RULES AND REGULATIONS AND AGREEMENT AND SHE TOLD ME BLUNTLY THAT SHE IS A MEMBER OF CFSA BUT SHE DONT HAVE TO GO WITH THEIR AGREEMENT AND SHE GO BY WITH NEVADA PAYMENT PLAN. I DID NOT ARGUE WITH HER VERY MUCH BECAUSE I KNOW I ALREADYY ASKED HER ON 3 DRIFFERENT TIME ON 3 DIFFERENT DAYS AND I KNOW THAT SHE WONT BUDGE.
SO THERE YOU GO !
STAY TUNE FOR NEXT EPISODE...DONT KNOW WHAT TOMORROW BRINGS.

Well, if she admitted they are a member, but did not have to abide by the CFSA Best Practices, then they have violated those rules, and should have their membership jerked from them. If I were you Fred, I would send another email to the CFSA, and in the subject line, type; Complaint for violation,
then I would explain what happened when you went in to ask them for the EPP, and make sure you explain how she said they did NOT follow those guidelines set forth by the CFSA! They [this pdl company in question] should have their membership taken away!

By the way, don't give up, keep pushing for an answer from the CFSA, email them over and over again if you have to, sooner or later they will see that you mean business! :D

So what happened with this PDL, Fred? I think your payment was due yesterday, and it looks like you weren't able to get anything resolved with them prior to then.

That is total BS Fred :evil:

ANSWER TO: alias1958
I GUESS I AM WAITING FOR THE CHECK TO GO TO MY ACCOUNT AND BOUNCE AS NSF. THEN I WANT TO SEE IF THEY MAKE MY LIFE HELL IF THEY SAY WHAT THEY SUGGESSTED TO DO AS NEVADA PAYMENT PLAN. LET THEM TAKE ME TO DA's OFFICE. LET THEM SUE ME....I WILL FIND A GOOD ATTORNEY TO GO AFTER THEM IF THEY MAKE MY LIFE HELL.

ANSWER TO SHAZZERS: I SENT COMPLAINT TO CFSA I THINK THATS ENOUGH. LET THESE PEOPLE MAKE MY LIF HELL THEN ONLY I WILL TAKE A U TURN AND SEE THIS LENDER IN COURT. THERE ARE LOT OF ATTORNIES WHO WILL TAKE THIS CASE IN A HEARBEAT.

ANSWER TO anyaroberts: I KNOW THIS IS BS BUT WHAT CAN I DO.......I AM LOOKING FOR A LOOPHOLE FOR THEM TO SLIP AND FALL AND ONCE THEY DO THAT THEN I WILL SEE THEM IN COURT....IT IS ALL DEPEND HOW THIS SITUATION IS GOING TO TURN OUT TO BE.

Do keep us posted Fred...I hope everything works out the way it should:) Good luck. :lol:

CASH-1 DEPOSITED MY PRE WRITTEN CHECK WHICH HIT MY BANK ON SAT. WITH $29.00 NSF FEE CHARGED BY MY BANK TO ME. PLUS $25.00 NSF FEE WILL BE CHARGED BY CASH-1 PEOPLE.

I'm really sorry this is happening to you Fred, are they going to offer you the EPP now, or are they still stalling? :x

WHATEVER THEY ARE UPTO WE WILL FIND OUT THIS WEEK. I WANT THEM TO GIVE IT THEIR BEST SHOT AND AFTER THEY ARE ALL DONE THEN IT WILL BE MY TURN UNLESS THEY LET ME DO EPP. IF NOT THEN I HAVE TO GO TO PLAN B. AND THEY BETTER NOT SEND THIS CHECK AGAIN TO MY BANK FOR ANOTHER NSF FEE OR THEY BETTER NOT SEND THIS CHECK ON DIRECT DEPOSIT DAY. THEY WILL BE REAL SORRY IF THEY DID THAT.

CASH-1 WENT AHEAD AND SUBMIT MY PRE-WRITTEN CHECK TO MY BANK FOR 472.00 PLUS 25.00 FOR NSF TODAY WHICH MAKES $497.00....THIS WILL TAKE AWAY MY RENT MONEY. I SENT A NOTE/EMAIL TO MY BANK FOR STOP PAYMENT (WHICH WILL COST ME 29.00 IN THIS HARD TIME) FOR THIS CHECK. THINGS ARE GOING OPPOSITE DIRECTION FOR ME. JUST YESTERDAY I WENT TO CASH-1 AND THEY TOLD ME IT IS OK FOR ME TO DO SUPPOSEDLY NEVADA EXTENDED PLAN AND THEY WANT ME TO COME TO THIS OFFICE TO DO A CONTRACT TO PAY 5 PAYMENTS OF 99.50 PER PAYDAY STATRING 8/1/08 FRIDAY.
TODAY I HAD TO PAY MY RENT AND 2 DIFFERENT CASH PAYDAY LOAN PAYMENTS. THIS PUT ME DEFINATELY BEHIND EIGHT BALL BIG TIME.

Did you revoke ACH authorization with Cash-1? If so, when you did that, did you use language similar to "I revoke ACH authorization, paper checks, and any other debits to my account"? If you did that, you should be able to give a copy to your bank and prove that they were not supposed to cash that check. That way the bank should reverse the NSF fees.

I GUESS THEY GOT ME. CASH-1 TOOK OUT $497.00 FROM MY CHECKING. BANK COULD NOT COOPERATE WITH ME ON STOP PAYMENT ON A CHECK BECAUSE THEY DID DEBIT THATS WHY. I GOT ALIAS1958'S INFORMATION TOO LATE. NOW I AM BATTLEING BANK TO REFUND MY STOP PAYMENT CHECK FEE.
THEN I WENT (FROM MONEY TREE) AND BORROWED ANOTHER $500.00....BORROWED FROM PETER TO PAY PAUL. ALSO I WENT TO FINANCIAL INSTITUTIONS DIVISION LAS VEGAS NEVADA'S OFFICE IN PERSON TO FILE A COMPLAINT ABOUT CASH 1. THEY WILL CALL ME AND SPEAK WITH ME ON LATER TIME.
I PAID MY FIRST PAYMENT TO RAPID CASH AND CHECK CITY AND I AM BATTLING TO PAY MY RENT.

I AM LOOKING FOR ANY GOOD ATTORNEY WHO SPECIALIZES IN PAYDAY LOANS. DOES ANYONE KNOW ANY ?
PLEASE ADVISE
THANX FRED.

Fred, is this the one that wouldn't give you the EPP? Did you ever hear back from CFSA? I think you need to file a complaint against these guys with the CFSA. If they had given you the EPP like they were supposed to, then you would not be having any of these problems right now.

CFSA...............IS NOT RESPONDING. I ALREADY FILED COMPLAIN ABOUT THIS PAYDAY LENDER 2 TIMES VIA EMAIL AND I NEVER HEARD A WORD FROM THEM.

Go to this page:

www(dot)cfsa.net/filing_customer_complaint.html

When you get there, near the bottom of the first paragraph, click on "submit a formal grievance." At the bottom of the form, it gives you an address to mail the form to or a fax number to fax it to. Also, on that webpage is a telephone number to their hotline and what hours they are open.

Good luck!

CAN SOMEONE TELL ME IF CASH 1 PAYDAY LENDER IN LAS VEGAS, IS A CFSA MEMBER BEFORE I FILE COMPLAINT ABOUT THEM. BECAUSE THEY DONT ADVERTISE AND THEY DONT HAVE CFSA LOGO STICKER ON THEIR WINDOW OR DOOR. IF THEY ARE NOT A MEMBER OF CFSA....FILING COMPLAINT WONT DO ANY GOOD.

Fred, let me do some checking on that, I will get back with you. :wink:

Is their phone number (702) 869-5599?

I searched on the CFSA site and they are doing maintenance at this time so I will need to wait until later. I also shot off an email to Cash1 customer service and asked them if they're members of the CFSA. I will get back with you as soon as I hear something. :)

THEIR PHONE NUMBER IS: (702) 889-0003

I was going by the previous posts that said they were members of the CFSA, but if it turns out that they aren't, then you're right, Fred, filing a grievance won't do any good.

Fred. . .I have been following your post. Can't you close that bank account?

Hiya Fred, I just gave them a call (Cash1) and they are NOT members of the CFSA. I was reading back and saw where someone stated they were, but that's incorrect, they aren't. Your only recourse now is to attempt to set up some type of payment arrangements with them. In fact, if I were you, I would send them a payment (via money order, certified return receipt requested) as a good faith payment. Send them what you can, when you can until you are able to pay this off. If they do sue you, then at least bringing those receipts to court will show the judge you were making an attempt to pay it. That's what I would do. :)

Guest wrote:
Quote:

I REALLY DONT WANT TO CLOSE MY ACCOUNT. SECOND....CASH 1 ALREADY DIPPED IN MY ACCOUNT AND GOT THE WHOLE AMOUNT PLUS 25.00 NSF FEE.

Shazz. . .I agree. I think making a good faith effort to repay is always a good idea, no matter how small the payment is.

It sounds like what he is saying is that Cash 1 has now been paid in full.

YES THIS IS CORRECT. CASH 1 ALREADY GOT THEIR MONEY.....I WENT TO MONEY TREE LENDER AND GOT ANOTHER LOAN FOR $500.00 TO OFFSET CASH-1 MESS. I KNOW FOR FACT MONEYTREE IS A MEMBER OF CFSA AND THEY DID POST A NOTICE ON THEIR FRONT STORE COUNTER THAT THEY ARE OBLIGATED TO MAKE EPP.
LETS SAY I GOT OUT OF THIS MESS FOR GOOD. NEXT PAYDAY I WILL FILE FOR EPP WITH MONEYTREE.