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I have a small problem. I live in NC where payday loans are illegal. I got an settlement offer from Arrowhead before I got an response from the NC Attorney General office. Once I got the letter, I faxed a letter to the company telling them that payday lending is illegal in my state and I am only going to pay the original amount borrowed. I got an email from Dennis telling me that I waved the right to follow my state laws. What should I do?
ignore him
you only owe the principle.however anything debited prior to default gets deducted.example:
you borrow 300.00.they debit 90.00 three times.you only owe 30.00 morally.legally you can tell this tribal piece of garbage to go scratch as they will say anything to keep you paying,and since it is tribal,and illegal you are in control not them.never forget that.
Payday lending is prohibited in NC. You owe them only the borrowed amount, no interest, no fees. Don’t rely on their words. Don’t pay them an extra dime other than the principal. Close down your old bank account and open a new one to stop debiting money from your account. Ask them for the refund, if you have overpaid them.
What is the amount that you owe them? Is it enough for you to repay on your own? Don't make the mistake of consulting a debt consolidation company as the loans are illegal and you have nothing to do with the interest rates.