Pay Day Loans

they can't.in fact since these are illegal in TX you not only owe just the principle,but you deduct those interest debits meaning you owe very little on the last two and sandpoint you owe nothing.yes close that account and go to the sticky titled DEALING WITH ILLEGAL LENDERS at the very top of this forum.it has all you need from letters,and every step to get rid of these loans for good.

Lending of pdl is legal in the state of Texas. You can contact with the Texas Office of Consumer Credit Commissioner in order to know whether or not pdl companies are licensed to operate in your state. You will be responsible for both the principal and interest if the lenders are licensed in your state. Otherwise you are required to pay only the principal amount. If you have already paid more than the principal amount to the illegal lenders, then ask them for the refund. You can ask your bank manager to put a hard debit check on your bank account so that they can???t debit money from your account. Non-payment of debt is not a criminal offense. It???s a civil offense. So they can???t file criminal charges against you. If you are in a financial hardship, then you can negotiate with your lenders. You may try to arrange a better repayment plan with them to payoff your debt.

Hi,

If you calculate to determine that you don't owe money on any of your accounts, the best way out is to close the account so that you may avoid any further discrepancies. However, make sure that payday loan lending is legal in your state before taking any further step so that you don't end up paying more than what you owe.