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RICHMOND, VA (WWBT) – If you've recently gotten a payday loan online -- you may not know it, but it is illegal here in Virginia. Despite the law, companies continue to offer them.,She's warning Virginia's about online payday loans. 'Internet based payday loans are illegal in our state and many consumers have no idea,' she said.,Outlawing online payday loans was setup to prevent the consumer from falling into a financial trap. 'The interest rates for online loans can range from 180 percent to one thousand percent,' Wiggins said.,She adds many people turn to online loans because it's a secretive way to get financial help but says if you signed up for one the loans, keep in mind, you are not legally obligated to re-pay it.,'They don't have to pay back anything else because it is a void and unenforceable loan in our state, technically, they don't have to pay anything back but most everybody that comes to us wants to payback what they have borrowed,' she explained.,'I have had some people say, oh, so I can take out a loan and not pay it back and that is actually a really terrible idea, mainly because you are putting so much personal information online,' she said.,Wiggins never advises people not to back what they borrow -- but does say if you have paid back the illegal online loan, you shouldn't pay back the interest.,She says the lenders count on people not knowing the law. If you have questions about the law or payday loans, Wiggins is taking your calls, there is a hotline to help consumers. The number to the payday hotline is 866-830-4501.,RICHMOND, VA (WWBT) – If you've recently gotten a payday loan online -- you may not know it, but it is illegal here in Virginia. Despite the law, companies continue to offer them.,She's warning Virginia's about online payday loans. 'Internet based payday loans are illegal in our state and many consumers have no idea,' she said.,Outlawing online payday loans was setup to prevent the consumer from falling into a financial trap. 'The interest rates for online loans can range from 180 percent to one thousand percent,' Wiggins said.,She adds many people turn to online loans because it's a secretive way to get financial help but says if you signed up for one the loans, keep in mind, you are not legally obligated to re-pay it.,'They don't have to pay back anything else because it is a void and unenforceable loan in our state, technically, they don't have to pay anything back but most everybody that comes to us wants to payback what they have borrowed,' she explained.,'I have had some people say, oh, so I can take out a loan and not pay it back and that is actually a really terrible idea, mainly because you are putting so much personal information online,' she said.,Wiggins never advises people not to back what they borrow -- but does say if you have paid back the illegal online loan, you shouldn't pay back the interest.,She says the lenders count on people not knowing the law.

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If you have questions about the law or payday loans, Wiggins is taking your calls, there is a hotline to help consumers. The number to the payday hotline is 866-830-4501.

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