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”

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.

Sincerly,
Steve

You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

Damon Day - Pro Debt Coach

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

    • Thank you Steve for your quick response. I realise there are certain compliance laws they must adhere to and am aware that this would be considered miss leading the consumer part of the fair debt act I believe but wanted a second option.
      I am not going to pursue this but did want it in the public eye so others would not use there time unwisely .

      Reply
  1. Karen, yes, as I mentioned, some issues like interest rate can exceed the state maximum. And while there have been many, many, many stories about problematic payday lenders, that does not mean all payday loans are illegal. You can have a high rate, rolling over loan with little flexibility and it might make no sense, but be legal. But nobody should have to pay a false charge and I’m glad you got you bank to help.

    Reply
    • agreed. those interest rates alone are obscene, even when legal. Funny, when the Mafia does it, it’s extortion and other criminal activity. When these places do it, it’s just business! Anyway, good of you to help people out.

      Reply
  2. Steve,
    I have an installments loan wirg check n go here in California. I’m paying 220.00 bi-weekly and that is really hurting my pocket. I also didn’t know all the terms in conditions because I desperately needed the money to pay off the regular payday loans I already had. I will ask if they have an EPP. Can I ask for that even if I just started paying it? Also i have to ask for if before the day it’s due? I was also thinking if filing for bankruptcy. I’m 28 years old. Well thank talk for your time.

    Reply
  3. 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.

    Reply
  4. 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.

    Reply
    • 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.

      Reply

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