Zoca Loans. Payback loaned amount or interest?
Not only Zoca loan, but most
Not only Zoca loan, but most of the tribal and payday lenders set up similar kind of terms while lending these short term loans. That's illegal...so do as sanderspatricia29 suggested you earlier. You should be paying back only the principal amount...that's it.
Zoca loan is the tribal
Zoca loan is the tribal lenders. So, you just need to pay the principal amount. Don't pay a single extra penny. If they still ask you for the interest on the loan, make a complaint against them to your State's Attorney general. Also, revoke the ACH authorization.
Submitted by Sanders Patricia on Thu, 05/31/2018 - 06:04
Once I pay back the $1000
Once I pay back the $1000 Principal amount, I wont have to pay back a single penny?
I also read on their website
I also read on their website that they prohibit lending in Colorado in which I currently live for the summer. Can I get in trouble for this for them lending to me?
Yes. You can get into big
Yes. You can get into big trouble if you borrow money from Zoca loans. They are tribal lenders. First of all, they won't leave you at peace after paying off the principal amount. They will send you the loan agreement and ask you pay the interest. They are prohibited from lending in various states. Do you know that? Listen, if you need money, go to a credit union. They lend money at low interest rates.
Banks actually calls this a
Banks actually calls this a stop payment and most of them will charge you $30 or more to do this. Its a pain in the ass but I would close your bank account and open a new one.