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Check'N'Go Installment Loan in Alabama

Date: Fri, 10/25/2013 - 07:15
Submitted by on Fri, 10/25/2013 - 07:15
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I am located in Alabama, where I understand Check'N'Go has a license to legally operate. However, I noticed that the "maximum loan amount" is $500. They gave me an installment loan for $2750. Obviously, the interest rate is outrageous. I've basically just about paid the entire principal, however upon calling to determine the settlement amount, they still want around $2400. So my question is-- although the lender is legal, is the loan legal in Alabama? Thanks in advance!


that maximum is for pdl's not installment loans,or CSO'S so the loan is legal.


Submitted by paulmergel on Fri, 10/25/2013 - 10:39

paulmergel

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Check-n-go is a licensed lender. You owe them both the principal and interest. In this case you may try to negotiate with your licensed lender and if possible set up a payment arrangement with them.


Submitted by on Tue, 11/05/2013 - 22:32

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