But, morally yes, you need to pay back the principal at least, which you say you already have. Inform them and stop payment immediately.

took out a short term installment loan (more like a cash advance or payday loan) from NetCredit. Have paid back a lot more than what I borrowed. I have checked with the banking department and couldn't find their license. But they insist they're.

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That's what they always do! No illegal lender is going to accept that they're illegal.

You're not legally obligated to pay anything to illegal lenders. But, morally yes, you need to pay back the principal at least, which you say you already have. Inform them and stop payment immediately. You can even ask for a refund if you have paid a lot in excess.


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