Paydayloans vs installment NC
Date: Wed, 04/13/2011 - 07:05
Hello I need some help- I have a loan that is based out of Missouri thru emergent funding llc. I live in NC I have loaned with them several times but am now learning I don't know enough to plead my case with them.they are stating they are an installment and in Missouri so it doesn't matter where I reside and my law-can you please help me what is NC law and the difference between each. I'm not not trying to pay what I borrowed but I have paid this already the fees are astronomical. Any help would be great! Thank you!!!
Payday lending is illegal in North Carolina but there is no such
Payday lending is illegal in North Carolina but there is no such thing in case of an installment loan. An installment loan is a loan which is re-paid with interest in equal periodic payments. However, if you've already paid this, then you're not liable to pay this again. You need to contact the lender and sort out the matter. As far as NC law in this regard is concerned, have a talk with your attorney.
