I have 3 payday loans outstanding. I have used these payday loans multiple times and rolled over some of the finance charges and principle. I haven't calculated how much I have paid in finance charges but I am pretty sure I have exceed my principal by a lot. I am at the point I can't do this anymore. I noticed that in Maine they are illegal because they are not licensed and have exceed the max. interest. What should I do? Contact them? Close my bank account? Stop the ACH debits?
Debt Samaritan
Posts: 16537
Credits: 288871.65269736 Send message to SOAPLADY
Read the post in my signature line on how to deal with illegal loans.
http://www.debtconsolidationcare.com...allenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.
SOL for all states
http://www.debtconsolidationcare.com...imitation.html
Posts: 2273
Credits: 33268.95 Send message to good.nelly
You should close your bank account and ask for a refund. Stop the ACH debits too.
http://www.facebook.com/?ref=home#!/profile.php?id=100002227460566
Do I just send them a letter? I also have plaingreen loans and great plains loans....are these legal?
Both Plain Green & Great Plains are illegal tribal lenders. I'm dealing with them both as well. I rcvd a PIF acknowledgement from Plain Green a couple of days after I sent out my initial email(i overpaid $83.53).
Great Plains responded yesterday(about a week after i sent my email). They revoked my ach and have stopped accruing finance charges, but want me to pay the outstanding principal bal on my current loan. I just replied that they need to apply my overpayments from my previous loans to what i owe...we'll see what happens.
Posts: 271
Credits: 98.2 Send message to NathanielCopeland
Please keep us posted here. We would like to hear such a success story where overpayments from a closed account could be used to offset the principal balance on the current account.
Best of luck.
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