Pay Day Loans In Michigan

VIP loans - illegal
Sand Point Capital - illegal
Cash in a Wink - illegal
Ameriloan - illegal

Pay off the borrowed amount.

Follow the link in my signature line for information on how to deal with illegal loans. Follow all of the steps.

You owe principal only. Close your bank account and open a new one. You can ask them for a refund, if you have paid back them more than principal.

Hello,

Thank you all for the responses. As for closing my bank account, that isn't possible right now because my pay day is this Thursday. However, I can take steps to close it afterwards. :D

Ameriloan isn't scheduled to take out the first payment until Jun 28.

I will visit my bank after I get off work and discuss this with them.

Thank you all again for your help. :)

Good morning all,

I just wanted to give you an update. I talked to the bank manager (BofA) yesterday and she stated that the only thing they can do is put a stop payment on those authorizations.

I asked her about closing the account and starting a new one up and she stated that if the payments are recurring, then closing the account wouldn't be a good idea...it would make it look to them that I was "running" from them.

Needless to say, I didn't tell her that I was trying to "run" from them, but to make payments to them via a different method.

To sum it up, she was partially helpful.

Hello everyone,

For those that live in the state of MI, I contacted the Office of Financial and Insurance Services for the state of Michigan and was informed that they do NOT license any online payday loan lenders.

The lady stated that if you have problems with these loans, to contact an attorney. I contacted a MI lawyer for a free consultation; I explained everything to him regarding my payday loans and he stated that these loans are illegal in MI, so I'll be calling him in the morning.

I'll keep you updated on what happens.

Thanks.