Pay day loan help in MI
Date: Wed, 05/16/2012 - 13:47
I have been reviewing all the comments and they have been extremely helpful. I am a resident in the state of MI. I have taken out the following payday loans thru the internet -
Plain Green, Great Plains Lending, Eastside, Bayside, Accelerated Payday, and One Click Cash. Foolish yes I know. I got over my head and overextended. I have no problem paying back the principal in what I owe. In fact for Great Plains - my loan was $600 - I have paid $563 to date. They say I still owe $463. I would be willing to make small payments on the principal only (even though I think it's lower!) - however -since the account is only 18 days past due - they wont work with me! Eastside has been MORE than paid in full - they will not listen when I tell them that they are an illegal unlicensed lender in MI. They told me that it didnt matter because they were not located in MI. Am I correct that they need to comply with the MI State Law. I was feeling quite good about my position and felt that I knew what I was talking about but these lenders keep telling me my information is wrong. Please tell me - am I correct! What should be my next step....a letter to each of these lenders? Any advice would be appreciated.
Plain Green, Great Plains Lending, Eastside, Bayside, Accelerated Payday, and One Click Cash. Foolish yes I know. I got over my head and overextended. I have no problem paying back the principal in what I owe. In fact for Great Plains - my loan was $600 - I have paid $563 to date. They say I still owe $463. I would be willing to make small payments on the principal only (even though I think it's lower!) - however -since the account is only 18 days past due - they wont work with me! Eastside has been MORE than paid in full - they will not listen when I tell them that they are an illegal unlicensed lender in MI. They told me that it didnt matter because they were not located in MI. Am I correct that they need to comply with the MI State Law. I was feeling quite good about my position and felt that I knew what I was talking about but these lenders keep telling me my information is wrong. Please tell me - am I correct! What should be my next step....a letter to each of these lenders? Any advice would be appreciated.
Have you followed Ohiogal's primer? A link to it is in my signa
Have you followed Ohiogal's primer? A link to it is in my signature line
You are correct on ever count AND you don't need to work with th
You are correct on ever count AND you don't need to work with these illegal lenders, they need to work with you if they want to have at least their principal balance paid up. Just go through the mentioned link and you will find it has all the necessary information.
I completely agree with my previous posters. You are required to
I completely agree with my previous posters. You are required to pay them only the principal amount as they are illegal. Close your bank account asap to stop unauthorized withdrawal. You will be happy to know that illegal lenders won???t be able to take any legal action against you.