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I live in Michigan and have several payday loans or installment loans that were all done on-line. Are these legal lenders? How do I know?
Money Messiah
Axis Advance
Max Lend

I'm trying to decide if I should deal with these on my own or if I should work with a consolidation company. I have gotten several consolidation quotes but they vary so much that I am leery.

Money Messiah -Illegal
CashNet USA - legal
Axis Advance - illegal
Q-credit - illegal

Pay only the principal amount to illegal payday lenders.

Sub: #1 posted on Mon, 07/03/2017 - 03:02

(Posts: 3937 | Credits: )

Only cashnet USA is a legal lender in Michigan, so, you have to pay the principal amount with the interest. Just, pay the principal amount to the lenders who are not legal in your state.

However, what is the amount? If your income is decent, you can pay it on your own.

Sub: #2 posted on Mon, 07/03/2017 - 06:00

sanderspatricia29 sanderspatricia29

(Posts: 1216 | Credits: )

I used to consolidate my loans. Worked out well for me they were able to reduce my payments and I didn't end up paying those lenders back the full interest that was originally not explained to me when I took out the loans. Hope it works for you too!

Sub: #3 posted on Mon, 07/03/2017 - 09:08

rodneybean79 rodneybean79

(Posts: 1 | Credits: )

Maxlend is also illegal..I emailed them the letter from the sticky thread..I revoked the ACH and closed the account. I had already paid back the principal and after several emails, they sent me a paid in full letter. I would definitely try to deal with them before doing a consolidation.

Sub: #4 posted on Mon, 07/03/2017 - 11:28


(Posts: 13 | Credits: )

SF - Congrats!

Sub: #5 posted on Mon, 07/03/2017 - 21:35

(Posts: 3937 | Credits: )

SF good work, Geraldine> I hope you've got your answer :)
Mail them asap that you'll be able to pay back only the principal amount...

Sub: #6 posted on Tue, 07/04/2017 - 07:16

Barbara Delinsky Barbara Delinsky

(Posts: 432 | Credits: )

You can always check online to find out whether or not a pdl lender is legal.

Sub: #7 posted on Wed, 07/05/2017 - 05:12

Mabelle Page Mabelle Page

(Posts: 260 | Credits: )

Thank you for your responses. Today I am sending letters to the illegal lenders to revoke my ACH and put them on notice that I will only be paying the principle which is less than $100 total. As soon as I have my letters printed up I am heading to my bank so that I make sure my account is closed and a new unlinked account has been opened. This has been a real learning experience for me and I hope that sharing my experience is helpful for others as well.

Sub: #8 posted on Wed, 07/05/2017 - 09:06

Geraldine Geraldine

(Posts: 8 | Credits: )

Go ahead Geraldine.

Sub: #9 posted on Wed, 07/05/2017 - 21:45

(Posts: 3937 | Credits: )

Today I communicated with Axis Advance and they have agreed to accept the payment to meet the principle loan however they are referring to it as a settlement, should I be concerned with that wording? They are also asking that I post date the payment and give them account information today, which I am NOT going to do.

Sub: #10 posted on Thu, 07/06/2017 - 09:02

Geraldine Geraldine

(Posts: 8 | Credits: )

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