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I originally took out a "INTERNET" loan with a payday company they had me write a check to them and fax them a copy of this check writen out to them but I actually hold posession of this check. I borrowed 300.00 and have paid them consistantly 50.00 biweekly since November each tiem this was considered a rollover I have now very much so overpaid them and when I tried to do a payment arrangement they declined. So I closed my checking account. Rollovers are illegal in both Florida their state and Minnesota my state. They are telling me that since I wrote a check out and supposedly still owe them money like I agreed to in the contract that they can persue legal interests in me for this check? Does this still work like a check?

Welcome to our board! To be honest with you I don't know how that works. I have never done that process but I am sure that someone will be along shortly to help you with that. It would appear though, that you have WAY overpaid on this loan. I would bet you have probably paid 3 times what the loan was worth in the beginning. Hang tight. Someone will be along soon.

Sub: #1 posted on Fri, 07/18/2008 - 05:22

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

Have you checked to see if they are licensed to even do business in either state. If they are not following the laws in either state then I don't see how they would be able to pursue legal interests. I would consider filing a complaint with the boths states AG offices and the FTC as well as the bbb

Sub: #2 posted on Fri, 07/18/2008 - 06:36

PinkLady PinkLady
(Posts: 1722 | Credits: 277.47)

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