Cashnet USA and Payday One - Paid principal in full
Date: Wed, 12/09/2009 - 14:04
I live in MD and I've found out that lending of payday loans are illegal in the state of MD. But I se that Cashnet USa and Payday One are allowed to lend in the state of MD. I have paid the principal s of Cashnet USA of $900 and Payday One of $500, but they are still calling and sending me emails about setting up payments to pay off the loans in full. But the principal of the loans have been meet already. What are my next steps when your principal has been meet, but they are still wanting more money?
CashNetUSA is NOT a payday lender, they operate as a CSO (Credit
CashNetUSA is NOT a payday lender, they operate as a CSO (Credit Service Organization) in your state which means what they charge is perfectly legal, so you do owe them the interest and fees, if I am not mistaken, PaydayOne also operates as a CSO. CSO's interest rates aren't regulated, they aren't even required to obtain a license to operate, all they are required to do is register with your secretary of state. They can and WILL sue you, so it would be in your best interest to contact them and make payments on the balances.
