I took at loan out at cashnetusa which has a apr of 460.16% for a 14 day loan of and Arizona (where I live) legal rate under this amount, I think 459%. I am new to this but isn't that illegal, that cashnetusa is charging more interest that my state allows. I have heard from friends, who have spoken to lawyers, that you shouldn't even pay off the loan because the interest is illegal.
Is this correct?
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