PayDay Loans in Michigan
Date: Sun, 09/28/2008 - 12:36
Hello,
I need help!! Like many others, I've gotten caught up in this mess and it's hard to get out! I have town payday loans that are robbing me blind:
Loan Shop: 7/25 Original Loan=$400 to date $585
8/5=120
8/20=170
9/2=155
9/16=150
At least this one is coming down however, the next one is the reall monster:
American Consumer Credit, LLC dba The Cashspot
7/25 Original Loan = $500 to date $500
8/5=125
8/20=125
9/2=125
9/16=125
This one is reloaning every two weeks and nothing goes to principal.
I feel like a complete idiot for getting caught up. Can anyone help me with some advice on how to get out of this crap. I feel like I have lost control of my life!
I need help!! Like many others, I've gotten caught up in this mess and it's hard to get out! I have town payday loans that are robbing me blind:
Loan Shop: 7/25 Original Loan=$400 to date $585
8/5=120
8/20=170
9/2=155
9/16=150
At least this one is coming down however, the next one is the reall monster:
American Consumer Credit, LLC dba The Cashspot
7/25 Original Loan = $500 to date $500
8/5=125
8/20=125
9/2=125
9/16=125
This one is reloaning every two weeks and nothing goes to principal.
I feel like a complete idiot for getting caught up. Can anyone help me with some advice on how to get out of this crap. I feel like I have lost control of my life!
According to the PDL laws of Michigan, internet payday loan comp
According to the PDL laws of Michigan, internet payday loan companies which are not licensed in the state itself are not allowed to give payday loans. Both loanshop.com and cashspot.com are not licensed in MI. Hence they are illegal in your state. So, you are obliged to pay only the principal amount only. In fact you can also ask for refund from them on the amount that you have paid above the principle amount.
Loans in Michigan
Thanks, i sent them a letter about stopping the payments and the law and everything I learned from this sight, I have yet to hear from them, in fact they both debited my account today.
