I stopped my ACH payment on Plain Green Loan what will happen will it appear on my credit

I stopped my ACH payment on Plain Green Loan what will happen will it appear on my credit

4 Answers

As far as I know Plain Green is not legal in most of the state in USA. If they are not legal in your state, then you will have to bear only the principal amount. The good news for you is that illegal lenders can’t take any legal action if you don’t make any payments.


Which state are you in? Payday loans are not licensed to operate in all of the states. If payday lending is not allowed in your state, you will have to pay back only the principal amount. Firts of all, now, you will have to close down the account in order to avoid any further withdrawal from it.


I have a similar question. I have stopped ACH payments on Ameriloan. I know they are illegal. But will it appear on my credit report? 


Did you close the account?  Illegal lenders have ways of getting around blocks.

Have you paid back the principal balance?

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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