Unfortunately, I have several outstanding payday loans. Is there anything I can do to simply pay the principal balance and avoid the additional fees? I live in Illinois.
The laws in Illinois offer protection against borrowing too much on payday loans. However, if you've got several outstanding ones, then you might as well get some legal help.
Welcome to the forums!!!
Yes, you can simply pay the principal and avoid fees only when the lenders are illegal in your state. But if the lenders are licensed in your state, then you will have to pay both the principal and interest.
The laws in Illinois offer protection against borrowing too much on payday loans. However, if you've got several outstanding ones, then you might as well get some legal help.
Simply pay the principal
Welcome to the forums!!!
Yes, you can simply pay the principal and avoid fees only when the lenders are illegal in your state. But if the lenders are licensed in your state, then you will have to pay both the principal and interest.
Hi,
Its simple. you will have to find out if the loans are legal in your state and are licensed. Can you provide us the names of the loans?