Legally bound by contract

Submitted by Anonymous (not verified) on Tue, 06/11/2013 - 07:45
Forums
Credit repair

I need help. In a bind I took out a loan with Great Plains. I've paid 2 of 12 payments. I've been doing some research and it looks like loan companies are supposed to be licensed in Alabama to operate. Trying to figure out what to do next? Am I legally bound by this contract? How do I address this with Great Plains? Any help would be greatly appreciated.

sallynachelle

Welcome to the forums!!!
Great Plains is illegal all over the state of US. You owe them nothing more than the principal. Just close down your old bank account and open a new one. Don’t worry, your contract is invalid.

Wed, 06/12/2013 - 04:19 Permalink
adamsarthur87

Yes, there is nothing to fear about getting sued, as Sally has already mentioned, close your old account and get another one instead.

Wed, 06/12/2013 - 13:14 Permalink
happycredit

This is illegal company and your contract are invalid with this company don't worry.

Fri, 06/14/2013 - 05:48 Permalink