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Old Installment Payday Loan in IL from 2013

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Hello, trying to get some help with settling an installment payday loan taken out in 2013 at Americash Loans in IL. The original Loan was 3000 and over 2300 was paid back. They say I owe, 5300 as that is a result of fees over the years. Any advice on how to negotiate a settlement with this company? They said the minimum they can take is 1200.00..Please help. Thank you.




Illegal lender. You just need to pay $3000 in total. If you have paid $2300, then just pay $700. That's it.

Sub: #1 posted on Thu, 01/18/2018 - 17:03

SC SC
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(Posts: 3937 | Credits: 398.71)

Yes, for payday loans, you only have to pay the principal amount.

Sub: #2 posted on Thu, 01/18/2018 - 19:09

Mabelle Page Mabelle Page

(Posts: 149 | Credits: 14.62)

Since you have pay back a good amount already, just pay him back the rest of $700 , and done!

Sub: #3 posted on Fri, 01/19/2018 - 12:31

tiarajoseph11 tiarajoseph11

(Posts: 300 | Credits: 42.48)

No need to pay the interest since they are not legal lenders.

Sub: #4 posted on Fri, 01/19/2018 - 18:39

sanderspatricia29 sanderspatricia29

(Posts: 606 | Credits: 63.61)

If one can come down from $5300 to $1200... Guess he will come down to $1000, and then probably u know a bit less too.. like some $500 or so??

Atleast something's better than nothing.... Else take help of a settlement company.... !1! they won't charge you much....

Sub: #5 posted on Sat, 01/20/2018 - 00:02

Phil Bradford Phil Bradford

(Posts: 160 | Credits: 16.34)

americash has stores in IL. It's an in store loan. They are illegal?? I'm confused.

Sub: #6 posted on Sat, 01/20/2018 - 00:58

siestakey28 siestakey28

(Posts: 3 | Credits: 1.61)

This was in in store installment loan from 2013 that I took. They do have a license. I need help with negotiating a settlement. They now say they can't take the 1200 they initially offered. It's now 3000. Any suggestions?

Sub: #7 posted on Sat, 01/20/2018 - 01:03

siestakey28 siestakey28

(Posts: 3 | Credits: 1.61)

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