Is Ameriloan illegal and can they sue me if I live in New York?
Asked on Wed, 03/27/2013 - 19:00 Anonymous
I am based in New York City and I borrowed from Ameriloan about $750. I have not paid them anything yet. I realize their illegal in my state and sent them a letter of ACH revocation letter. I reported them to my AG, and the US Banking Institutions. I know i will be recieving phone calls from them. But since their illegal do I have the right to pay them back only the principal. I'm going thru alot of economic hardships and I can't afford the whole amount. My question is should I have the right to pay them back monthly whatever I can afford?