Forums
I am a bit confused, though. I live in Kansas and have several pdl's. I am current on all of them, but drowning. I have Plain Green Loans and Great Plains Lending (installment). Are these illegal in Kansas? I read that if they are, I am only responsible for principal? If I could get the interest stopped, I could pay off quicker. I also have Cash Net USA, Speedy Cash, Mobi loans which are open ended lines of credit. I think these are all legal. I am not trying to get out of paying these, but am considering closing my bank account and defaulting so that I can work out payments plans. What advice can you give me? Any help would be appreciated.
Only responsible for principal
Welcome to the forums!!!
All of your lenders are illegal except Cash Net USA and Speedy Cash. You owe only the principal to the illegal lenders. Don’t pay them any interest or fees. Close down your old bank account and open a new one to stop unauthorized withdrawal. As far as the legal loans are concerned, you owe them both the principal and interest. In this case try to negotiate with your legal lenders and set up a payment arrangement with them, if possible.