Sub: #1 Payday Loan Question
Replied on 10-12-2009, 02:48 PM
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In my continuing effort to get rid of these things, I have another question.

I took out a loan, in Wisconsin, from Payday Loan Store. The original amount was $350.00 I increased my loan to the max of $675.00 cuz I needed extra cash. So far, in total, I have paid them $775, with another payment due of $168.75 a week from now. I have paid more than my original loan. Does a paid in full letter, only apply to internet lenders or do I have any of options? Excuse me if this has been asked or if I am sounding stupid. Just exploring all options!

Sub: #2
Replied on 10-12-2009, 03:11 PM
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You can ask for a PIF, but odds are against you.




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Sub: #3
Replied on 10-12-2009, 05:43 PM
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Quote:
Originally Posted by rvl_73 View Post
In my continuing effort to get rid of these things, I have another question.
I took out a loan, in Wisconsin, from Payday Loan Store. The original amount was $350.00 I increased my loan to the max of $675.00 cuz I needed extra cash. So far, in total, I have paid them $775, with another payment due of $168.75 a week from now. I have paid more than my original loan. Does a paid in full letter, only apply to internet lenders or do I have any of options? Excuse me if this has been asked or if I am sounding stupid. Just exploring all options!
Unfortunately there's no cap on the interest they can charge. You could try to negotiate a pay off.

Quote:
Wisconsin Payday Loan Laws
State Legal Status
Lending of payday loan is legal in the State of Wisconsin.

Loan Specifications

* Maximum Loan Amount - Not Specified
* Term of Loan - Not Specified
* Maximum Rate of Finance and Fees - No Limit
* Finance Charge on $100 loan for a 14 day period - No Limit
* APR for $100 loan for a 14 day period - No Limit






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