Is interest included in a PDL EPP?

Date: Thu, 07/09/2009 - 20:09

Submitted by emerymen
on Thu, 07/09/2009 - 20:09

Posts: 3 Credits: [Donate]

Total Replies: 8

Hello all,I am from Texas and have a storefront PDL with Check N Go.The original loan was for $1,155.I have paid $520.00 in interest only.I still owe a total of $1,413($258 in interest included)583.57% interest.I want to ask the lender if I would possibly qualify for a EPP.Does anyone know if an EPP is approved it is only for the amount borrowed,in my case $1155 or will it be the $1413 with interest included.Also I have read threads where the store employees are not of help,does someone know the telephone number for Check N Go's corp. office? I would really appreciate any help/advice with this matter.Thanks for reading !

The interest usually stops upon signing up for the EPP.

lrhall41

Submitted by Shazzers on Thu, 07/09/2009 - 20:19

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So would my 4 payments be divided by $1155 or $1413? I just want

So would my 4 payments be divided by $1155 or $1413? I just want to do some budget planning.Thanks so much for your super quick response.

lrhall41

Submitted by on Thu, 07/09/2009 - 20:25

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Sorry about that.I wasn't logged in,but the above question was m

Sorry about that.I wasn't logged in,but the above question was mine as well.

lrhall41

Submitted by emerymen on Thu, 07/09/2009 - 20:32

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It will probably include the interest unfortunately.

lrhall41

Submitted by Shazzers on Thu, 07/09/2009 - 20:48

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Okay,thanks.

lrhall41

Submitted by emerymen on Thu, 07/09/2009 - 20:57

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It will be for the $1400 amount. As for the CNG Corp number, GO

It will be for the $1400 amount. As for the CNG Corp number, GOOGLE or BING it.

lrhall41

Submitted by PDLOwner on Thu, 07/09/2009 - 22:25

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It is my understanding that when you request EPP the interest ha

It is my understanding that when you request EPP the interest has to stop immediately. And you are only responsible for the remaining of the amount of the original loan. Found this info at: paydayloansstink.com

lrhall41

Submitted by on Fri, 07/10/2009 - 09:01

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Most PDL's calculate thier interst as a fee, meaning that the in

Most PDL's calculate thier interst as a fee, meaning that the interest does not accrue on a daily basis. There are a few that are that way, but not many. The EPP will take the amount due and break it down to 4 payments. That particular site will prey on worst case scenarios, not necessarily the real scenario.

lrhall41

Submitted by PDLOwner on Fri, 07/10/2009 - 13:26

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