Pay the loan back in full

Submitted by Anonymous (not verified) on Fri, 05/31/2013 - 10:18
Forums
Credit repair

I'm a Georgia resident and i took out an online payday loan with Great Plains lending. They gave me 800.00, and I've made 8 payments of 141.28. By the time I make my last payment. The sum of all of them will be a little over 2500.00. I told someone about this and they told me that payday loans were illegal in GA. Is this info true? Will I have to pay the loan back in full?

sallynachelle

Welcome to the forums!!!
Yeah…payday lending is prohibited in Georgia. That means all the lenders in your state are illegal. You owe only the principal to them i.e $800. As you have already overpaid them, so ask them for the refund. But it depends on their discretion whether or not to return back your money. It would be better for you to close down your old bank account and open a new one.

Mon, 06/03/2013 - 05:27 Permalink