Payday Loan Question
Date: Wed, 03/28/2007 - 23:24
Now I am willing to pay what i owe...but i am not sure who i owe to...What is it that these companies can do to me, since they refuse to send info and to be recorded?
Are these internet or storefront? What state are you in? Do you
Are these internet or storefront? What state are you in? Do you know how much yuo have borrowed and how much you have paid back to these companies? My first suggestion would be to call your old bank and see if you can get a hold of your old statements to start determining when you got the loans, from who, for how much and how much they have taken out of your account
Leah is very right. An important first step is to sit down and g
Leah is very right. An important first step is to sit down and get an accurate picture of where you are at in the scheme of things. Maybe you have already overpaid these loans back, maybe not.
If you have, then you need to insist that your accounts be marked paid in full and the company send you letters to that effect. If you have not, figure out how much more you owe (principal of the loan plus legal interest rate for your state) and make payment arrangements on that.
Also, it's important to determine how many of your loans are storefront (bricks and mortar) vs. internet. This will determine who gets paid back first, as storefronts are usually always licensed in your state and IPDL's generally are not.
A good rule of thumb is to pay back the storefronts first, then the IPDL's.
