Paying back Illegal Lenders
Date: Wed, 05/06/2009 - 19:29
The lenders I had listed, I have in the past had previous loans, multiple times and have paid them off. Now, since they are illegal and not licensed, am I able to have fees paid on previous loans and on my most recent loans applied to the principle outstanding balance? Just curious since it appears the fees are illegal to charge. And obviously, hopeful to help reduce the balance. Thank you again.
If the payday lenders are illegal in your state, you need to pay
If the payday lenders are illegal in your state, you need to pay back only the principle amount and not the interest and other charges. To know how to deal with illegal lenders, you may check the link dealing with illegal payday lenders.
People have used past overpayments and demanded they be applied
People have used past overpayments and demanded they be applied to current loans. Sometimes it has worked.
You only owe what you borrowed. Any fees or extention/rollover charges apply to that amount.
