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payday loans

Date: Thu, 03/12/2009 - 07:12

Submitted by mtm214248
on Thu, 03/12/2009 - 07:12

Posts: Credits: [Donate]

Total Replies: 4


Do I have to keep paying on my payday loan?My state says that it is illegal.What should I do?


First of all, please list the following information so we can help you.
-Names of each pdl company.
-Whether they are store front or Internet.
-How much you borrowed.
-How much you paid so far.
-The state in which you reside.
I'm sorry to tell you this, but there is only one sure way to stop the withdrawals, and that is to close your account. If that isn't an option, then tell the bank to put a hard debit block on your account. Before you close your account, read this information at the link below. http://www.debtconsolidationcare.com/paydayloan/close-account.html

Please do not let any of these pdl's know you are going to close your account, until AFTER you have done it!


lrhall41

Submitted by Shazzers on Thu, 03/12/2009 - 07:21

( Posts: 17344 | Credits: )


mtm214248 I would say Yes. Even if the PDL company is not licensed to lend in your state or they are ILLEGAL. I encourage you to paying atleast the principal amount borrowed. It is the moral thing to do.

Now with that being said you can make payment arrangements with each compnay that is most affordable to you. Do not let them bully you into paying what you cannot afford. Your priorities are to take care of home first, the loan comes later. Please provide the info Shazzers requested so we can further help you.


lrhall41

Submitted by Cool_Abyss on Thu, 03/12/2009 - 08:15

( Posts: 2936 | Credits: )


anyaroberts is right. The only way we encourage to stop paying is if they are illegal/unlicensed and you have paid over the initial amount borrowed.

If you borrowed $300 and paid back $300 then you are done. Even if the payments were in the form of rollover fees or interst fees. Those still go towards the principle.


lrhall41

Submitted by nohiogal on Thu, 03/12/2009 - 08:19

( Posts: 2582 | Credits: )