Can I just pay the principal?

Submitted by Anonymous (not verified) on Mon, 02/11/2013 - 12:45
Forums
Credit repair

I have 7 pay day loans and have paid a lot of interest if they are not licensed can I just pay the principal? I live in PA.

sallynachelle

Welcome to the forums!!!
Payday lending is prohibited in PA. That means all lenders are illegal in your state. You owe principal only. No interest, no fees. Close down your old bank account and open a new one to stop debiting money from your account. As you have already overpaid them, so ask them for a refund.

Tue, 02/12/2013 - 04:00 Permalink