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The Cash Store Won’t Help Me to Break The Loan Cycle. – Cindy

“Dear Steve,

I currently have an installment loan with The Cash Store and due to recent home repairs am no longer able to meet this obligation. The balance owed is $830 and I’ve been paying $369 every 2 weeks. I called them prior to my next due date to inform them that I am no longer able to pay and inquired about an extended payment plan which they advised they don’t offer. They continue to call asking the same question and in essence want me to come in an sign a new agreement for 10 payments which which add an additional $1,000 to what I already owe. They advise they will call 3x a day til an arrangement is made???

What do I do; I’m more than willing to make arrangement on the balance owed but there is no way I’m go ing to sign up for additional intererst.


Dear Cindy,

Interesting. If you have an installment loan from the Cash Store I bet it was for $2,000 or less. That’s why your comment about how much you’ve been paying and they want you to pay is alarming.

I did some checking and the Cash Store is part of the Community Financial Services Association of America, a payday trade association. This is important because members have promised to offer an EPP (Extended Payment Plan) to allow you to repay what you owe over four payments without additional interest.

For details on what the EPP offers see, Cristy Has Three Payday Loans And Can’t Pay Them

You can view the information about the EPP on the CFSA site here.

The CFSA link to the specific guidelines is here.

Poll – Vote Now

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Your homework is to go to your Cash Store office and tell them you want to repay your loan under the Extended Payment Plan (EPP) offered by The Cash Store as part of their membership in the Community Financial Services Association of America.

READ  Arizona Payday Lenders Getting The Hell Out of Arizona

Report back by posting updates here in the comments section of your question.


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About the author

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.


  • what I want to know is why when on most loans A monthly payment and in the last few month my payment is due every 29 days which if you do the math your making a payment twice evey mory month

  • I got a 1500.00 loan from them as well, looked at the contract and thought I was paying 375.00 per month, only to see its 750.00 a month. Needless to say its eating my lunch. When I went in 3 days late they could not take the payment, if I pay off the balance would be paid off in Jan, so what happened I refinanced for 357.44 instead. Which pushed me back to march payoff. Its getting harder and harder and when I asked for a monthly lower payment they told me its best to refinance because I did not want it to go to corporate as they will harass me really bad.

  • Regarding the Cash Store. I am ill and was unable to go into the store to make a payment (I am four days later). I had a family member send them a money order via overnight mail for the payment, and the store rep said they could not take it – but would just keep harrassing me until I came in and refinanced. Does this make sense?? I will be contacting their corporate office in Irving, Texas. I am able to make the payments, but depending on my doctor’s advice, may not be able to make it into their office. **They also have a policy of not doing bank drafts if you are late.

  • I am sorry that Cindy went through this problem. I to am learning just how they operate and I wished my husband never did take that loan in the first place.

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