Illegal Loan: better to deal with early?
Date: Mon, 10/15/2012 - 13:05
Hi everyone,
I have a loan with Plain Green Loans and I now know from doing the research I should have done first (!) that they are a Native American lender and therefore not legal. I am up to date on my payments, in fact I paid $160 more than I needed to because I had the money to do so. I still owe another $300 in principal which I have every intention of paying, but I was wondering if it's better to start the process of sending the letters, etc NOW about the interest. Or does it make better sense to wait until I have paid the full principal and use the two weeks after to stop the ACH.
I hope I'm making sense. Thank you in advance for your advice.
I have a loan with Plain Green Loans and I now know from doing the research I should have done first (!) that they are a Native American lender and therefore not legal. I am up to date on my payments, in fact I paid $160 more than I needed to because I had the money to do so. I still owe another $300 in principal which I have every intention of paying, but I was wondering if it's better to start the process of sending the letters, etc NOW about the interest. Or does it make better sense to wait until I have paid the full principal and use the two weeks after to stop the ACH.
I hope I'm making sense. Thank you in advance for your advice.
Do it now and pay the principal when YOU can afford it...technic
Do it now and pay the principal when YOU can afford it...technically you owe them nothing....morally you should pay back the principal. Follow the link in my signature line for information on how to deal with them.
Thank you! Wow, that's a very thorough explanation of the proce
Thank you! Wow, that's a very thorough explanation of the process :)
I'm not excited about having to close my bank account, but alas that's the price you pay. I definitely do want to pay the principal, I definitely borrowed the cash....but it would be nice to do it in my time!
