I have three payday loans and expected to be able

I have three payday loans and expected to be able to pay them off this month, but had to move unexpectently. I am on social security, and I already closed my back account and transfered my direct deposit. I live in Louisiana. My loans are with fast cash, cash net, and ameriloan.

3 Answers

Ameriloan is not legal in US. I don't think fast cash is legal in your state either. You are only required to pay back the principal amount to these companies. You are not liable to pay the interests or fees. Inform these companies that you won't be paying any thing more than the principal amount.


fast cash and ameriloan said if the payment wasn't in their two days before due date they would send it to my closed bank account anyway. cashnet was a little nicer, but wouldn't budge on the payment amt. However cashnet repayment plan was not bad to start with. However. the other two want 105 on 350 every month times 3 months ( no principal) then 105 plus 50 a month principal  til paid off.

 


Pdl lending is legal in the state of Louisiana. You can get information from the Louisiana Office of Financial Institutions in order to know whether or not pdl companies are licensed to operate in your state. You will be responsible for both the principal and interest if you find that the lenders are licensed in your state. Otherwise, you are required to pay only the principal amount. If you are in a financial hardship and can’t repay your debts in full, then you can negotiate with your lenders. You may try to arrange a better repayment plan with them on your own.


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