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CheckSmart Payday Loan Ohio

Date: Thu, 02/07/2013 - 13:41

Submitted by Blondie
on Thu, 02/07/2013 - 13:41

Posts: 4 Credits: [Donate]

Total Replies: 5


I just turned 21 years old so obviously I'm not very experienced in this field lol. I just recently stopped payment on my check for my loan with CheckSmart. My original amount was $800, I know paying them back I would owe around $943. Now I have a late fee and return check fee. I was trying to set up arrangements with them, but as everyone here knows, CheckSmart isn't willing to take anything short of payment in full or 2 half payments, neither of which I can do at the moment. I want to get this taken care of when I get my taxes filed, but I am STILL waiting on a W-2 from on previous employer. They told me on February 11th my loan will go to a 3rd party agency. My plan was to wait til then and set up a settlement offer with the new agency. But my contract states they can debit ACH my bank account 4 times after loan is so long past due. I definitely can't afford to let that happen either, being as I only get paid twice a month and it's highly unlikely they'll wait til those days to debit my account. So basically, I need advice on what I should do exactly.


I was planning on waiting and settling with whatever 3rd party agency eventually got my loan, but I've decided it will probably be better to just pay it like a good girl. I finally got my W2 last night so I'll be filing right after work and getting that directly deposited, so I'll call them before my loan is 31 days past due (as soon as my return hits my account) and get it paid :]


lrhall41

Submitted by Blondie on Fri, 02/08/2013 - 06:39

( Posts: 4 | Credits: )


Check Smart is a legal lender. You are liable for both the principal and interest. Try to contact with your lender and set up a payment arrangement with them. If they don’t agree to settle with you, then you will have to pay the full amount. Otherwise they can sue you for non-payment.


lrhall41

Submitted by anonymous on Thu, 02/07/2013 - 20:37

( Posts: 202330 | Credits: )


Well, if you want them to stop from coming after your bank account or your paycheck, you need to revoke ACH authorization and voluntary wage assignment in writing. Send copies of the ACH revocation letter to your bank and to the lender. Do the same for the voluntary wage assignment revocation, only instead of the bank, send the other copy to your payroll/HR. Doing all of this would eventually force the loan account into collections after which you are open to negotiate a settlement. You need to take care of this as soon as possible because as long as you are not paying, interest is accruing.


lrhall41

Submitted by Steve Barris on Thu, 02/07/2013 - 21:00

( Posts: 1043 | Credits: )


I was planning on waiting and settling with whatever 3rd party agency eventually got my loan, but I've decided it will probably be better to just pay it like a good girl. I finally got my W2 last night so I'll be filing right after work and getting that directly deposited, so I'll call them before my loan is 31 days past due (as soon as my return hits my account) and get it paid :]


lrhall41

Submitted by anonymous on Fri, 02/08/2013 - 06:38

( Posts: 202330 | Credits: )