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I have a question:

I live in Florida, I have a payday loan with check n go due to come out of my account on Aug 14, 2008. I asked them if I could roll it to the next payday and they said no, that in the state of Florida, I cannot do that.

Any suggestions?

Thanks!




Is Check n Go a member of CFSA? If they are, they are required to offer you and EPP (Extended Payment Plan), as long as you request it at least one day before your payment is due. This would allow you to pay it off in four equal payments.

Sub: #1 posted on Mon, 08/04/2008 - 21:09

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

Yes, they are, but they are still saying they cannot because I am in the state of Florida. Makes no sense.

Sub: #2 posted on Mon, 08/04/2008 - 21:17

Unregistered


tell them that you wish to initiate an extended payment plan. be very specific

Sub: #3 posted on Mon, 08/04/2008 - 21:23

jj jj
Moderators
(Posts: 1057 | Credits: 107.78)

Okay, I'll try it and let ya'll know.

Sub: #4 posted on Mon, 08/04/2008 - 21:26

Unregistered


Yes, they may just think that you are talking about an extension rollover, rather than an Extended Payment Plan. If they still tell you no, be persistent, and tell them that your understanding is that as a member of the CFSA, they have to allow you the EPP.

Sub: #5 posted on Mon, 08/04/2008 - 21:38

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

Just because they are a CFSA member doesn't mean they must offer the payment plan. It depends on state law.

Florida's law is changing, and the extended payment plan would make the loan term too long and could get the company into legal trouble. That is why they are telling you they can't do it in Florida.

Sub: #6 posted on Mon, 08/04/2008 - 21:57

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

Check n Go had been operating as a CSO in Florida, but Florida closed that little loophole. Now if they want to offer pdl's, they must be a pdl.

Since there are no rollovers or extensions in Florida, and the loan term must be less then 31 days, the EPP would be against the law.

Sub: #7 posted on Mon, 08/04/2008 - 22:00

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.91)

They did it! They broke it up for me and didn't charge anything more.

Thanks for ya'll's help....!!!

Sub: #8 posted on Tue, 08/05/2008 - 05:19

Unregistered


I'm so glad it worked out for you!!!

Sub: #9 posted on Tue, 08/05/2008 - 05:35

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

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