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Check N Go installment loan

Date: Fri, 04/12/2013 - 11:08
Submitted by on Fri, 04/12/2013 - 11:08
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Before I found this sight I was in payday H*!! and trying to get out of it I got a 2500 check n go installment loan. With payments of $243 biweekly. I have made 2 1/2 months of payments & I can't keep up. Has anyone settled with check n go? If so, how did it go? Thanks for your input!


Try for EPP with the Check N Go wherein the interest rate will be frozen. You can pay off the total debt amount in 4 equal installments.


Submitted by on Sun, 04/14/2013 - 20:50

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There are 2 ways to go about this.
1. Call them and ask for the EPP. With the EPP the interest is going to be frozen and the remaining loan balance is going to be spread over 2-5 pay periods. It might work for you but given the high loan balance, those monthly payment chunks might grow larger.
2. In case the EPP route does not seem feasible, revoke ACH in writing which would automatically force the account into collections. You can negotiate on the terms of repayment after that. It would be substantially easier to do so.


Submitted by Steve Barris on Sun, 04/14/2013 - 22:07

Steve Barris

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I called CNG & they offered me a settlement of 50%. Manageable biweekly payments. I will be done with this in 4 months!


Submitted by on Fri, 04/19/2013 - 08:44

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I am just curious, but were you in default, or was your account current when you called them?


Submitted by genam on Fri, 09/06/2013 - 08:02

genam

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