Can I just pay the principal?

Submitted by Anonymous (not verified) on Tue, 01/01/2013 - 11:18
Forums
Credit repair

I live in PA. I have 7 pay day loans and have paid a lot of interest. If they are not licensed can I just pay the principal?

sallynachelle

Welcome to the forums!!!
Payday lending is prohibited in PA. All lenders are illegal in your state. Don’t pay them an extra dime other than the principal. You owe principal only as they are illegal. Close down your old bank account and open a new one. Ask them for a refund as you have overpaid them.

Thu, 01/03/2013 - 04:05 Permalink