Should I have to pay the 1,500.00

Technically, you have overpaid them bookoos of money. I live in NC and they are prohibited here as well. You are only required to pay back the principal (original amount of loan without any fees). You only have to pay them back $250.00. How much exactly have you paid them in all?? Also, if you don't mind me asking, what company is it?? I am sure that we can help you get it marked paid in full and maybe a refund. I got all of mine, except one paid in full, and also a refund of $519.00

dlady1991 -

Welcome to the forums! You are correct, this IS illegal. Unfortunately, we've all dealt with payday loan companies, and many of them attempt this type of thing.

If you will post the name of the company you are dealing with, one of us here will try to help you out. Don't worry, you will get through this just fine, and once you've come through it, you'll know never to deal with them again.

The name is Instant Cash Flow Inc. in Logan, Ut. I went and got my papers. My mistake. the original amount borrowed was $250.00 then they charged me interest to bring it too $340.00 and the payment arrangement started with that amount. So then when I made one payment of $10 and one payment of $20 and the rest were $25.00 payments then they said I defaulted and I owe $1,590.00 the amount on my paper they sent me. They sent me to a collection company called Transworld Systems Inc. in Vienna, Va. requesting this money and but I can't send the payments to Transworld I must send them to Instant Cash which I don't understand. But I had paid all but $40.00 of the $250.00 borrowed. They broke it down too $250.00 principle $50.00 interest, #30.00 Late Fee and $960 interest to catch up which totaled $1,635.00 and then they deducted all the payments I did make which brought it down to the 1, 500 and something. So to me this is a fraud and I am only going to send them the balance of $40.00 of the $250.00 I originally owe.

dlady -

correct me if I'm wrong, but did you mention how much you have paid them, in total, so far? It sounds to me like you need to advise them that they are lending illegally in Maryland, and that you plan to file a formal complaint with your state's Attorney General. Demand that they mark your loan paid in full once you pay the balance of the principal off, and file that complaint.

Also, I think the fact that they are telling you they've reported you to Transworld Systems, but you have to still pay THEM shows that they are lying. If they had reported you to Transworld, you would have received contact and payment instruction from Transworld - not the payday lender.

Thank You, and I am going to do that and I am going to send the $40.oo balance of the $250.00 and that is it. I have all my copies of the money sent and that's good enough for me. I appreciate your help. I have one other quick question for my girlfriend who is going through the same drama. She made payment arrangements for the amont of $637.00 i beleive. Eventhough she originally borrowed 375.00. They charged her for NSF in her account and then interest. She is making payments but should she pay the 637.00 or should she pay the $375.00 she lives in Maryland too. I told her when she gets out of this do not do it anymore because I have learned my lesson it is not worth it.

dlady - if this loan is with the same company, I would say your girlfriend should pay the balance due on the principal.

No her loan company was Any day cash who sent it to some company called Alexander & Wright Assoc. in Texas. I told her to just pay the principal too because they would try to scare her and told her she was committing fraud and I told her don't even worry about it just pay what you owe because it is prohibited in the state of Marylad anyway. I finally got myself out of the pay day loan mess so I could tell her what to do and what tactics they will try. I will never make this mistake again. All it is, is thowing good money out the window and never getting caught up. Oh,if you never pay a pay day loan back, is there a time limit they have to try to retrieve at least the principal from you? Or could years later they still come back and haunt you. (LOL)

dlady1991 -

I would definitely advise you, on a moral basis, to pay the principal back. Yes, the companies might be lending illegally in your state, but you did borrow the money from them, and they did give it to you, with the understanding that you would pay it back, plus their fees.

At the very least, pay back the principal amount. I would not want to be on the receiving end of the phone call that comes years later to come back and haunt you, like you said. I don't know that it would, but why take the chance.

If you are talking about IPDLS they aren't licensed, so it is highly doubtful they are going to go into court to sue you. Just payback the principal and the LEGAL fees, if you take out a payday loan without the intention of paying it back some states will allow for criminal prosecution.

thats ridiculis. you count how much you paid them and then demand refund for anything interest they cant charge you. if wont return your money send your attorney go chasing after them, i keep my attorny on sppeed dial

I'm hoping that your attorney on speed dial is just to help you deal with your financial matters muffman. And I wonder if his ringer plays "Do you hear the muffman, the muffman, the muffman" when you call. Sorry, I see your name and that song plays in my mind.

my bankrupcy attorney, he give me his home number too. he gives me big discount for being repeat customer. we work out deal I pay him monthly fee and he tell my creditors to back off. when they threaten to sue, i give his number and he tell them im filing next month. 2 months later they call him, he says again i'm filing next month. do this for 7 years until legal for me to file again.

LOL. You should write a book! LOL

I would contact them for an accounting of how much you have paid them. What was the original amount of the loan and the interest that has been paid? The interest that has been paid has more than covered the loan itself. I would recommend that you place a cease and desist letter in the mail recommending that this company never contacts you again. Then I recommend that you seek legal counsel to demand all of the interest (which is what you have been paying) to this company back. This is ridiculous the lengths that these individuals would stoop to. Good luck to you.