Payday Loan Nightmare
Date: Thu, 03/22/2012 - 11:15
EZ Money is not legal in your state. Check the state pdl laws on
EZ Money is not legal in your state. Check the state pdl laws once. I have a strong suspicion that others are not legal either. If these companies are making unathorized withdrawals from your account, then it is better to close it.
Cash Biz and AAA Advance seem to be licensed to operate in the s
Cash Biz and AAA Advance seem to be licensed to operate in the state of Missouri. You would need to pay them back the principal amount along with the accrued interest and fees. As for EZ Money and Zest Cash, they loaned you $1,200 whereas the maximum a PDL can lend in Missouri is $500. This just goes to prove their illegitimacy. Revoke ACH on your bank account and since you can't close it because of the overdraft, put it on 'Deposit Only' status. Once you get the account out of the OD, close it down and open a new account. Make sure the old account is not linked to the new account in any way.
If they are not licensed in your state, then you are required to
If they are not licensed in your state, then you are required to pay back only the principal amount. Ask them for the refund, if you have paid them more than principal. Have a look at this page to know how to handle illegal lenders:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html