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I had taken out a payday loan from My Cash Now and Ameriloan in 2011. I have borrowed around $2500 from My Cash Now. I have borrowed $1000 from Ameriloan. I have paid $1500 to Ameriloan till date. I have paid $3000 to My Cash Now. I need to pay around $3785 to My Cash Now. Ameriloan is demanding another $1000. I don’t have that much amount of money. What to do?
Do not have that much amount of money.
Welcome to the forums!!!
Both My cash now and Ameriloan are illegal lenders. You owe principal only. Don’t pay them any interest or fees. Close down your old bank account and open a new one. As you have already overpaid them, so ask them for a refund.