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I am about to get lots of calls from payday lenders who I am unable to pay. I have signed up with a settlement agency but I need to handle my creditors until they step in. Can someone offer me a dialogue in dealing with these companies on the phone. I live in Missouri.
Payday loan lending is legal in Missouri and hence you need to repay both the principal amount and the interest rates.
shut up
ignore amy.if these are online they are most likely illegal meaning you can do this yourself.btw just because a state allows pdl's doesn't mean that they are legal.amy up to her old bad advice i see.
Contact them and work out a repayment that suits both of you well. However, you can consult an attorney or file a complaint with your state's attorney general or CFPB, if the matter gets worse.
Are your lenders licensed in your state? If not, then you owe them nothing more than the principal balance. Don’t hire a debt relief company, they will charge a heavy fee. Try to settle your debts on your own. If they are licensed, then you owe them both the principal and interest. In this case you may try to negotiate with them and set up a payment arrangement with them. But if they are illegal, then you owe them only the principal balance. No interest, no fees. In this case it would be better for you to close down your old bank account and open a new one to stop debiting money from your account.
thank you
thank you guest above me.legal lenders will work with you.illegals will not.just about every state has the provision where an onlline lender must be licensed in that state.the bad blanket info on here is astounding.