Is this legal?
Date: Mon, 06/25/2012 - 16:25
I took out a payday loan from a lender located in Delaware. Even though I have sent them emails telling them they are not licensed in my state, they are still saying since I have electronically signed online, i am still responsible for the loan. I have paid almost all of the principal and sending them the last $25.00 this Friday.
Can you tell me if I need to worry about this, their collections department is calling and sending me emails. What are the laws regarding this?
Can you tell me if I need to worry about this, their collections department is calling and sending me emails. What are the laws regarding this?
Since they are illegal, so you owe principal only. Close your ol
Since they are illegal, so you owe principal only. Close your old bank account and open a new one. No need to pay them any interest or fees. Go through this page to know how to deal with illegal lenders:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
Just stay away from the phone and ignore the calls. File complai
Just stay away from the phone and ignore the calls. File complaints with the FTC and the AG if you have to. Have you closed down your bank account and revoked ACH?