Clarification

You owe what you borrowed.

ANY money you have paid them goes toward that amount including all fees or rollover charges.

so if I borrowed $400 and have paid 4 payments of 100 and 1 payment of 150.00 is it paid in full. How about one that rollovers 4 times and then they take the entire thing out, and you reloan, does each reloan start if over. If that is true I have borrowed I borrowed $700.00 paid $275. and $175.00 is the amount owed then $250.00.

Minnesota has a 6 percent cap on a 300.00 loan. They do not allow rollovers or reloans, nohiogal is basically correct. You owe the principal and all money paid should go to that. These companeies will inevitably tell you that you are under the law of Delaware Nevada or even some Island nation. That is hogwash! You are in Minnesota and they need to be licensed there and obey those laws.

For the illegal lenders...

If you borrowed $400 and you made 4 payments of $100 and 1 payment of $150, you not only paid in full but over paid and can request a refund of the $150.

If I remember right rollovers are illegal in your state. Rollover fees apply to the loan amount.

i.e. You borrowed $300 and you made three rollover fees of $100 each then the loan is paid in full.

Now if you get a loan for $300 and you rolled it over four times and then made a balance payment that loan is also paid in full but you over paid as you really only owed the principle amount.

Now some have used previous loan payments to illegal lenders and told them to apply all the over payments to the current loan and it has worked a couple times for a PIF.