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I have a high interest payday instillation loan that I am struggling to pay off. The loan was for $2600.00 and I am paying $154.41 every two weeks. I will have to pay the interest off this instillation loan before any money goes towards paying down the initial $2600.00 I took out. The interest is 133.871% and comes to $10,171.24 is there anything I can do and is this legal? I live in Ca and this payday instillation loan was taken out through Speedy Cash.

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Unfurtunately, Speedy Cash is legal in California. So, you're liable for the interest rates and fees. In your case, I would suggest you to negotiate with them and try to find out a solution to your payday loan problem. See, if they give you the Extended Payment Plan option.

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Last Updated on: Fri, 8 Jun 2018