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We are slowly bringing ourselves to the surface from PDLs. After being on unpaid maternity leave and being sick for 2 months, we had to do something to keep our home from foreclosing. So we took out PDLs, b/c we thought that was our only option. By reading, I can tell they illegal in MD, but what do you do about it? I lose at least $800 a month just to them for interest.
Payday lending is prohibited in MD. All lenders in your state are illegal. You owe them nothing more than the principal. No interest, no fees. Simply 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.