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Help with online payday loans in Arizona

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I am drowning in payday loans and everything has suffered because of it. If I stop paying them what can happen? I know they banned all instore ones in arizona 2 years ago. I need to pay my other bills but i can't because of these loans that are drowning me. I need to pay my auto loan so that I don't get repoed. If I stop paying can I close my account and start over.

All loans with interest rates over 36% are illegal. Who did you borrow from, how much did you borrow and how much have you paid?

Sub: #1 posted on Thu, 01/12/2012 - 09:51

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Do you know whether or not pdl companies are licensed in your state? If not, then you can get rid of this trap by paying off only the principal amount. Close your bank account asap. Ask them for the refund, if you have overpaid them. You will be happy to know that illegal lenders can???t take any legal action against you, if you are not able to make your payments.

Sub: #2 posted on Thu, 01/12/2012 - 23:55

Tyler Tyler

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1st - PDLS are illegal in AZ.
2nd - Consumer loans of other types must adhere to the 36% APR for AZ residents.
3rd - There are no internet lenders who are going to stick to the 36% APR so, it's safe to advise the OP to follow the steps for dealing with illegal lenders.

And finally, as I've told you before both on the forum and in private messages you should not be posting if you a) don't know the answer, b) are guessing at the answer and/or c) have nothing of value to add to the discussion.

Sub: #3 posted on Fri, 01/13/2012 - 07:04

OhioGal1 OhioGal1
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