PDL killing me in Arkansas
Date: Wed, 05/30/2007 - 20:39
I have 6 internet payday loans...they total in fees a month 900.00...once i pay they inital money i borrowed back plus their fee can i stop paying these legally? For example one company is B&L Marketing...borrowed $200.00 and their rollover fee is $60.00...(have paid the 60.00 twice now) once i have paid the full 260.00 can i stop paying? These are also being directly withdrawn from my bank account. Can I legally close account after all pdls are paid back what i borrowed?
payday
Welcome to the forums. I would pay back the principal and then stop paying. According to payday laws in Arkansas rollovers are not permitted. Go to http://www.paydayloaninfo.org and look up your state laws. You will have to close checking account or they will keep debiting and bleed you dry. Also check your secretary of states website to see if they are licensed to do business in your state. Please also file complaints with your Attorney Generals office consumer division. Best Wishes KYSIDE38