I took out 3 installment loans with tribal lenders in desperation to help pay for a very expensive dental surgery. I have paid $6000 for $3200 in loans and still owe $1000, all interest.
I recently found out that these loans are illegal in Massachusetts, as are all payday type loans.
I followed the advice on this site and stopped the ACH payments with my bank and opened a new checking account. I sent emails to all 3 lenders revoking ACH and wage assignments, plus asked for a refund of all the interest I have paid. I am going to file complaints with the Massachusetts division of banks today.
Here is where I need advice. I got replies from 2 of the 3 lenders so far. The first one, North Cash, said they will mark the loan paid in full but since they say I still owe them money, they will not send a refund. The second, Lend Green, replied that they will take my account off ACH but I am still responsible for paying the balance by check and if I do not they will send me to collections. The third lender, American Web Loan, has not replied.
How do I proceed? I definitely want the loans marked paid in full, but I don't want to give up on literally thousands of dollars in potential refunds. I definitely don't have the time or patience to deal with bogus collections on an illegal loan. I just want my money back and for this all to go away.
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