pdl
Date: Wed, 08/17/2011 - 16:41
i have a payday loan with Needinstantcash who is an internet lender, i live in Georgia. my loan was originally $300, but when it was deposited to my bank it was only $280 since they charge a one time fee upfront. So so far i have paid $660, and it was only for extensions, means nothing towards principal. can i get out of it?
Thank you
GA
Lending of payday loans are prohibited in the State of Georgia. It was a crime for them to give you the loan. Your only required to pay back the money loaned to you. No fees or interest. So $280-660 = 380. You should demand this amount back as a refund.
Send them a letter informing that you will not pay a single penn
Send them a letter informing that you will not pay a single penny henceforth. Mention in the letter that you'll not pay any more money as they don't have the license to lend money in your state. Ask for a refund. They may send you a letter informing that they are legal. But don't believe them. Tell them that you'll be forced to take legal steps against them if they don't return the extra pennies you have paid.
Nandy is right. You can get rid of the debt by paying them only
Nandy is right. You can get rid of the debt by paying them only the principal amount. Illegal lenders won???t be able to take any legal action against you. If you have any complaint regarding this company, then you can contact with the Georgia Office of the Commissioner of Insurance. The contact detail of Georgia Office of the Commissioner of Insurance is as follows:
# Address - Industrial Loan Division, Two Martin Luther King, Jr. Drive West Tower, Suite 704 Atlanta GA 30334
# Phone - (404) 656-2070
# Fax - (404) 657-8542
Make sure you secure your bank account forst because sending the
Make sure you secure your bank account forst because sending them a revocation letter will make them go into your bank account and attempt if not clean you out! would do liek the others said and file your complaints make sure you send the letter to the company demanding your refund and CC the BBB, FTC, Georgia's Attorney General! Don't allow this to continue to go on go to your financial institution and explain that there is fraudulent activity taking place on your bank account and handle closing the account from there. Make sure you secure your funds before you start sending out letters.
Good Luck!
