Payday Loan help in Vermont
Date: Fri, 12/30/2011 - 08:47
I was wondering what my options are, I live in Vermont and I have two payday loans out there. Im pretty sure they are illegal so I dont even understand how I got them. One is from Kenwood Services and the other from Highland Holdings. What are my options? Is it true that I am only liable to them for the principal amount? Is there any kind of consolidation thing I can do? I have already paid more than my principal amount owed in fees alone.
Thanks for your help
here
yes both ipdl's are illegal in VT.therefore not only do owe just the principle,but since you stated you paid the principle and then some in"fees" not only do you not owe them,but they owe you refunds.go to the sticky titled(dealing with illegal lenders)at the top of this very forum.it has all the info step by step,and template letters.the first step is to close your current account and cut off their access to your money.btw with the sticky,and our help you can rid yourself of these for nothing.why pay a potential scam to take your money when you are entitled to refunds?follow the sticky and keep us posted please.
follow up
Thanks for your answer, I have sent an email to both companies and I guess we will see what happens. I have also contacted my bank and the banking division in VT and informed him of the companies that made lending available to me in the first place. I had no idea it was illegal and the fees are just ridiculous! I will keep everyone posted as things go on. Thanks again
response from Kenwood
So they (Kenwood) responded to my email and said they are licensed in my state (VT) and if I have any question to call. In my email to them I specifically asked if they are licensed to send me the license information so I can verify and that I will only respond to email not phone calls. I will respond to her email and see what she says I guess.