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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, had I known this and all of the extra money I would have to pay back I wouldn't have done it..is this info true? Will I have to pay the loan back in full?
Extra money I would have to pay back
Welcome to the forums!!!
Payday lending is prohibited in Georgia. All of your lenders are illegal in your state. You owe them nothing more than the principal. As you have already overpaid them, so ask them for a refund. But it fully depends on their discretion whether or not to eturn back your money. Close down your old bank account and open a new one to sto debiting money from your account.