Anonymous
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Hello,
I live in Texas and took out a 800 loan with SpotLoan. I paid 495 in February. I called today to work out a paym plan and they refused to work with me. The payment plan basically made my payment to be $2111.89. They said, I can just put a hold on my account but it will just keep accurring interest. I said I had to return the call.
The contract, clearly states 3 payments of 495 so they lady pushing it out to 9 months with interest....
anyways, I don’t know what to do? I am at loss. Please advise....




Spot is an illegal loan. So there is no need to pay interest on the loan. All you need to do is pay only the principal amount. You borrowed $800. You're required to pay that amount only.

Sub: #1 posted on Tue, 02/27/2018 - 15:27

ditchdebt ditchdebt

(Posts: 661 | Credits: 253.26)

Since the lender is illegal, you just need to pay the principal amount.

Sub: #2 posted on Tue, 02/27/2018 - 18:54

sanderspatricia29 sanderspatricia29

(Posts: 613 | Credits: 64.31)

You need to pay only the principal amount to this illegal loan. So there is no need to pay interest on the loan. You need to pay only the borrowed $800.

Sub: #3 posted on Mon, 03/05/2018 - 12:14

Barbara Delinsky Barbara Delinsky

(Posts: 272 | Credits: 27.01)

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