Payday Loans Illegal?
Date: Mon, 10/08/2012 - 13:40
I am in Florida...I have three online loans, and was wondering if they are illegal.
mycashnow: original loan was for 550.00, and I paid $1,002.77. new loan is 620.00 haven't paid anything yet.
plaingreen loans: loan for 1,000, i have paid 760.44 in fees/interest. balance due is still over a thousand.
western sky/serviced by cash call: 1,000. have paid close to 400 so far, balance due is still over a thousand.
Please help!Are these loans illegal in Florida? Can i send them the letters you recommended in the other post, and using payments made only repay the principal?
Yes follow the illegal lenders link in my sig.: all 3 are illega
Yes follow the illegal lenders link in my sig.: all 3 are illegal
FYI, this IS the right place! Listen to what these people have t
FYI, this IS the right place! Listen to what these people have to say! You'll be thankful you did!!
Good luck!
All the 3 payday loans are illegal in your state. As such, you'r
All the 3 payday loans are illegal in your state. As such, you're required to take the following steps:
Pay the original loan amount minus interests and fees
Stop ACH authorization
Revoke voluntary wage assignment
Close your account if required
Yes, you can send the letters which you found in that thread.
Thank you!
Thank you all :) I just sent the letter to mycashnow and plaingreen, getting ready to find contact info for cashcall/western sky.
I also closed my bank account. I'll post their replies when I get them.
Thanks Again!
Plain Green response...
I haven't heard back from mycashnow yet, and I haven't sent one to western sky/cash call yet... I was waiting to do that one last from the different posts I have seen, not sure if it will work.
But, I did receive this letter back from Plain Green and it seems to be good... They are accepting my previous payments and then just the remainder amount of principal only :) Below is the email I received from them...
Please be advised that this communication is for the purpose of collecting a
debt. Any information obtained may be used to collect the debt. We may report
information about your account to credit bureaus. Late payments, missed
payments, or other defaults on your account may be reflected in your credit
report.
Dear :
Your correspondence has been directed to me for review and I thank you for the
opportunity to assist you at this time.
We understand that all situations are different and would like to offer you the
opportunity to pay the remaining principal in the amount of $366.30. Your
payment on 10/10/12 was returned. We will accept three (3) payments of $122.10
payable on the October 19, 2012 and monthly thereafter.
To further clarity your questions regarding the legality of this loan, Plain
Green is organized under the laws of the Chippewa-Cree Tribe of the Rocky
Boy’s Indian Reservation of Montana (“Chippewa-Cree”). Plain
Green is owned by the Chippewa-Cree, and operates exclusively on land owned by
the Chippewa-Cree. As such, Plain Green stands as an “Arm of the
Tribe,” in the view of the United States state and federal courts.
Therefore, loans made by an arm of a sovereign Indian nation are not subject to
state law. This is NOT a payday loan.
This letter is written to help you understand that Plain Green and its loan
contracts are governed exclusively by the laws of the Chippewa-Cree.
Pursuant to your request, we have removed your contact numbers from our system
and we will make no further ACH debits from your account.
Please reply to this email if you would like to accept this settlement and set
up payment arrangements.
mycashnow
I am so happy to have come across this forum. Thank you all for your help. The plain green first response is above.
Also, I was wondering has anyone had any dealings with mycashnow? I haven't heard back from them yet. I'm not sure if I should send letter again, or if they were going to be agreeable or put up a fight?
Thanks again for all your help!!