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Check ‘n Go Says They Can’t Offer Me the EPP or Extended Payment Plan. – Gene

“Dear Steve,

I took out a $5,000 Check n Go loan last year. I have to pay back $998.00 every month. At that time, I was able to do that when I agreed to the terms of the loan. Now, I have run into a financial hardship and I’m not able to pay that amount. I called this morning and asked for an EPP and they told me that they couldn’t do that on an installment loan. I don’t know what to do.

What are my options if Check n Go doesn’t work with me?

Gene”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

Dear Gene,

I’m not sure which state you are in, but let’s say it’s Alabama.

In Alabama it looks like the maximum payday loan is $500, for installment loans they say they go to $3,000 if done online. I suspect your loan might have been through your local store and is classified as an installment loan.

According to the Check ‘n Go website, the maximum term they will go on an installment loan is 12 months. So at your rate of $998 per month you will repay $11,976 on a $5,000 loan.

I’d like to know what interest rate they charged you. You’d have to look at your original loan documentation.

In Alabama it appears they offer the EPP for payday loans but not for installment loans. – Source, Source

Ultimately, unless the interest rate they charged you was illegal or they committed some other violation that might help you to negotiate an affordable payment plan, we might have to look at other options to deal with the debt.

How many payments did you make and do you have other debt you owe?

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

Check n Go Says They Cant Offer Me the EPP or Extended Payment Plan.   Gene
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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Gene

    Steve, earlier you gave me advice on a payday loan I have with Check n Go. This morning, I was listening to your video on filing bankruptcy. By the way, an excellent video. I’m not afraid to file bankruptcy, but I am afraid of how people names are published in the local newspaper when filing in Alabama. I know filing bankruptcy is public information, but their are people like me who just not comfortable with having their business publicized.

    When I file bankruptcy, why does my name have to be in the local newspaper? How can I avoid having my name published? Do you know of any bankruptcy lawyers that can prevent this from happening? If you do, please give me those lawyers names. I live in Alabama.

  • Gene

    Steve, earlier you gave me advice on a payday loan I have with Check n Go. This morning, I was listening to your video on filing bankruptcy. By the way, an excellent video. I’m not afraid to file bankruptcy, but I am afraid of how people names are published in the local newspaper when filing in Alabama. I know filing bankruptcy is public information, but their are people like me who just not comfortable with having their business publicized.

    When I file bankruptcy, why does my name have to be in the local newspaper? How can I avoid having my name published? Do you know of any bankruptcy lawyers that can prevent this from happening? If you do, please give me those lawyers names. I live in Alabama.

    • http://GetOutOfDebt.org Steve Rhode

      Gene,

      It does not have to be publicized. That’s a decision your local paper has made and is apparently pulling that information off the U.S. Court system.

      Like any court or legal case, that information is a matter of public record and can be accessed if someone wanted to look for it. But the same is true of a creditor that sues someone over a delinquent debt.

      I understand your fear over the disclosure of the bankruptcy. But here is what I learned after living through the same thing, I was worried for nothing.

      Look, shit happens. And shit happens to everybody.

      The quicker you learn to just embrace what happened, the faster you will recover. That’s what I learned. And look at me now, I tell everyone I filed bankruptcy.

      • Gene

        Steve, thanks for being straight forward on your response. I needed that type of kick in the butt response. As I said earlier, you are the best!! You need to be a face in everyone’s home (on television). Once again, thanks!!!!

      • http://GetOutOfDebt.org Steve Rhode

        :-)

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