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Roll overs

Date: Tue, 11/02/2010 - 10:57

Submitted by anonymous
on Tue, 11/02/2010 - 10:57

Posts: 202330 Credits: [Donate]

Total Replies: 2


Thanks for all the information that you have in this forum. I have a question and I think you all will give me the answer and guide me. Can you all tell me the exact meaning of the word 'rollover'?

I have only one payday loan from Ameriloan for $ 250 and I have been repaying them for the last 5 months. Still they say that they owe $ 200 from me. I am from Oregon and I see that 2 rollovers are permitted in my state. I am sorry but I do not understand these terms.


Quote:

Originally Posted by Anonymous
Thanks for all the information that you have in this forum. I have a question and I think you all will give me the answer and guide me. Can you all tell me the exact meaning of the word 'rollover'?
I have only one payday loan from Ameriloan for $ 250 and I have been repaying them for the last 5 months. Still they say that they owe $ 200 from me. I am from Oregon and I see that 2 rollovers are permitted in my state. I am sorry but I do not understand these terms.


When you receive a payday loan some vendors will let you roll it over 2-3 times or more. A roll over is your only paying their interest payment no principle. You need to check to see if Ameriloan is a legal or illegal lender in your state. If illegal your only obligated to pay the original amount of the loan $250.00 and it sounds like you've already done that. There are several posts within the payday loan forum that can guide you on how to stop paying these people.


lrhall41

Submitted by Buzzette on Tue, 11/02/2010 - 11:27

( Posts: 401 | Credits: )