I sent ACH revocation letters to my lenders today. I assumed they were all "payday loans" because my credit isn't good enough to qualify for anything else! I had one company (lion loans) say they'd honor the revocation but that I still needed to pay per the agreement. Then I had another company (total loan company) call and say I was very mistaken and they are NOT a payday lender, they are an installment lender and that this loan is NOT illegal and they are definitely licensed to lend this amount (it was 800) in my state, SC. Is there any way this is true?