Defaulted on my internet payday loan.

Defaulted on my internet payday loan.

3 Answers

At first, you need to check whether or not payday lending is legal in your state. If it is legal, then you should check whether or not internet payday loan is legal in your state. If internet payday loan is legal, then you will have to pay the principal amount including interests and other fees. Otherwise, you will be liable to pay only the principal amount. You can contact with your lenders and explain them your financial situation. You can negotiate with them and arrange a better repayment plan to payoff the debt as soon as possible.


I do empathize with you, and it seems you're going through some hassles with these online Payday lenders. These days a majority of these online lenders aren't licensed to operate in all states. That's why it's so important for us to know whether all of your lenders are actually legal in your state. If not, you won't have to bear the interest charges associated with your payday loans.


Which state do you live in? Who are your payday lenders? Unless you give these details, it will be difficult for anyone of us to give you any suggestions.


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