Forums
My husband and I have internet payday loans with Zip19 in Texas. We became severely financially strained and these loans only made things much worse! We closed our account and quit paying them in May/June of 2013. At first, I had numerous phone calls but just never answered them. Today, is the first time I have heard anything out of them in several months. We got letters from Fidelis Recovery Solutions saying we owed over $1,300 for each payday loan which were only for $500 originally! We have paid almost $300 in fees on one but not sure about the other but probably more. What should I do?
Zip19 is an illegal lender all over the state of US. You owe them only the principal balance, nothing more than that. If you have already overpaid them, ask them for the refund. Close down your old bank account and open a new one to stop debiting money from your account.
Payday loans are legal in Texas and this is the reason behind the compounding balance. Take steps to repay the loan or else you will continue being harassed.
Zip 19 is an illegal lender and so even if payday lending is legal in Texas, you need to close down the bank accounts. However, you will have to try and pay back the principal amount borrowed on all of the loans, and no interest payments are to be made.