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I emailed and faxed letters to 2 PDL co. revoking their privilege to debit my account. I got a response back immediately from Pay Check Now stating I owed them $400.00 and that they would be debiting my account for the interest amount of $187.00 and it would rollover if I did not contact them to take the full amount out. What do I do next? I closed out the account as I have paid them back the full amount borrowed, not including interest, I live in NJ.
Payday lending is prohibited in NJ. That means all lenders in your state are illegal. You owe them nothing more than the principal balance. Don’t pay them any interest or fees. You have done the right thing by closing down your bank account. Ask them for the refund, if you have already overpaid them. Don’t share any personal information with them.