Can the interest be counted as payment?

Submitted by Anonymous (not verified) on Mon, 07/29/2013 - 10:42
Forums
Credit repair

I living in Rhode Island. I have internet loans with Mass Street Group and Seven Group. I took out $300 and have paid apx $360 interest. I also have Dollar Flash Loan was for 700. I have paid approximately $500. Can the interest be counted as payment of the debt? Do I only need to pay $200 to be paid in full. I also have a PDL with Seaside Cash of $500. Paid $150 in interest so far.

sallynachelle

Welcome to the forums!!!
All the above mentioned lenders are illegal in your state. You owe them only the principal, nothing more than that. No interest, no fees. Just close down your old bank account and open a new one to stop unauthorized withdrawal. Ask them for the refund as you have already overpaid them.

Mon, 07/29/2013 - 12:39 Permalink
Amine (not verified)

It will help your score as things go off your ceridt in time and if they report that you have paid it, then that is good. Also if you owe it then you should pay it, for yourself if for no other reason.

Fri, 08/30/2013 - 15:04 Permalink