Help me get out of the payday loan cycle!

I tried that with magnum and they wouldn't budge. Luckily I had already more than paid the principal on thew current loan. You can try asking them for a refund on overpayments. I never got anywhere with that but i bug them about it with an email every couple weeks.

They will try to say they're legal saying the laws of their country or in the case of a tribal lender they'll try to say they're a sovereign nation and not subject to state laws.

I did file complaints with the Iowa Attorney General and Federal trade Commission as well.

You have to be persistent.

Hello fellow Iowan
Internet payday/installment loans are illegal in Iowa. They don't license any lenders not having a physical presence in Iowa. Magnum is an offshore lender, not sure about Green picket but in any case they are internet lenders and are illegal.
You're only morally obligated to pay back the original amount you borrowed.

You need to read the info in the link below and it will help you. You'll probably get an initial response back saying they aren't subject to Iowa law but that is a load of bull.

Here's the link:
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html

I have another question. So if I have cycled in the loans since November, can I use past interest Ive paid towards my current principle, or do I need to treat this as a separate transaction and pay of the principal as of now?

Sent C&D letters to both lenders and closed my bank account. Just waiting to hear back from them now!

Sent C&D letters to both lenders and closed my bank account. Just waiting to hear back from them now!