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I know Ameriloan illegal in NY but how do I handle them? Am I only responsible to pay them what I borrowed and not the interest? If lets say I borrowed 350 and payed them back 400 in just interest only. Do I still have to pay them back what I originally borrowed? Do I tell them its illegal in NY, I am only paying you the principal? What should I do? I need help I want to resolve this fast and is it illegal in NY? Can they really sue me?
well
if your example is true.you owe nothing.let me explain.when it is said you only owe the principle.that means anything,and i mean anything debited gets deducted from the principle.so you owe nothing,and no tribal lender can sue because their immunity would not come into play.so there you have it.
Payday lending is prohibited in NY. All lenders in this state are illegal. You owe them nothing more than the principal balance. Don’t pay them any interest or fees. Ask them for the refund, if you have already overpaid them. Close down your old bank account and open a new one to stop debiting money from your account.
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