Closing checking

of course it is not illegal lenders will say that,but it like everything else they say it will be a lie.just know that.

Any ideas of what ramifications could occur if I proceed with this plan? Legally and otherwise?

what state are you in?, names of lenders? amount borrowed and amount paid back so far? ...debts are civil, not criminal. You cannot be prosecuted. Answer and we can help you further.

I live in Minnesota. I have 9 pay day loans!!
Castle pay day - borrowed 900 have paid 315 to extend to next payday. Total paid 315
Everest - borrowed 600 and have made 8 payments for total of 1000
Best choice 123 - borrowed 750 and have made 2 payments of 213.5. Total paid back 427
500 fast cash - borrowed 400. Have paid rollover 3 times at 120. Total of 360
Action pay day - same as above
Liquid cash ventures - borrowed 800 have paid 240. Supposed balance is 1040
Pay day max - borrowed 750. Have paid 234
One click. Borrowed 400. Have not made any payments yet

I am so far in i see no out. The payments are more than I make each paycheck

They should make sure the lender is licensed with the State of Minnesota. Minnesota law caps the amount of fees that can be charged on payday loans. If a payday loan is less than $350, Minnesota rates are capped on a sliding scale as follows:
LOAN AMOUNT FEE
$0 $50 $5.50
$50 - $100 10%, plus a $5 fee
$100 - $250 7% (minimum of $10), plus a $5 fee
$250 -$350 6% (minimum $17.50), plus a $5 fee

For loans between $350 and $1,000, payday lenders cannot charge more than 33% annual interest plus a $25 fee. Minnesotans should not obtain payday loans that do not meet these fee caps.

Payday lenders must be licensed with the State of Minnesota. Minnesota’s payday loan statute provides certain protections to Minnesota consumers. All payday lenders, including Internet payday lenders that make loans to Minnesota residents, must comply with its provisions, including its licensure provisions and rate cap. You need to determine if lenders are legal...go to department of financial regulation for MN to see if they are licensed. More than likely, they are not. After verifying, click on the link on how to deal with unlicensed lenders. Follow every step, do not skip.

Do I really have a legit reasoning to refuse to pay the outrageous fees and interest rates seeing as I agreed and signed their documents??
Thank you for your advice

since none have a license to do business in MN they are not entitled to anything but the principle.it's like if i loaned you money.i have no right to ask for anything more than what i borrowed you.that is how you should think in terms of the illegal lenders which again all of yours are illegal in MN,and alot are foreign/offshore meaning more illegal.hope that clears thing up a little.

this does make things clear...i just have one more question, as i am unable to find a website that specifically lists licenced pay lenders in Minnesota yet they are legal in MN just need to be licensed...anyone know the website that lists the licensced pay day lenders for mn??

please ignore last post...found the listing for MN...Thank you!

Minnesota Department of Commerce - http://www.commerce.state.mn.us/LicenseLookupMain.html - Just wanted to make sure you had the right site..

Follow the link in my signature line....all of the steps.

Thank you for the assistance provided in this forum. For the PDL's that I still owe the principle on most lenders have been cooperative. Best Choice123 and Castle payday have not been cooperative!

Any advice on how to handle this response from Castle payday? Tribal law...

We are sorry to hear that we were unable to come to any type of mutual agreement in regards to the settlement of your loan.

We would like to work with you to come to an agreement to pay off your loan. So, while we are not obligated to do so, and in full and final settlement of your grievance and any claims you may wish to assert against us, we will agree to the amount and schedule below. Once all the agreed upon settlement payments have been successfully paid, we will waive the remaining balance on your account. Agreeing to this settlement will freeze any interest or fee amounts currently outstanding.

Current Amount Due: $1560.00
Proposed Settlement: $1485.00
Your Savings: $75.00

Number of settlement payments: 9
Payment Schedule:
07/05/2013 $165.00
07/19/2013 $165.00
08/02/2013 $165.00
08/16/2013 $165.00
08/30/2013 $165.00
09/13/2013 $165.00
09/27/2013 $165.00
10/11/2013 $165.00
10/25/2013 $165.00

Payment Method: Mail In
Although we do accept Money Orders and Cashier’s Checks, we strongly recommend that you select ACH transfer to prevent any issues that may result from an untimely or lost payment sent through the U.S. postal system. Please keep in mind that if you opt to use a Money Order or Cashier’s Check to submit your payment, the funds must be received on the day the payment is due or the payment will be considered late. The address is as follows:

CastlePayday.com
P.O. Box 704
Watersmeet, MI 49969-0704



To finalize this settlement option, please reply “I AGREE” in the subject heading of the email and inform us of your payment method. Only upon receipt will settlement be made. Failure to accept this agreement may result in your account being sent to a 3rd Party Collections Agency.

If you chose not to agree to the proposed settlement, you may access the Tribal Dispute Resolution Procedure explained within your loan agreement pursuant to Section 9 of the Tribal Consumer Financial Services Regulatory Code and found below for your convenience.


Thank You,
Support@ CastlePayday.com
1-888-945-2727


Tribal Dispute Resolution Procedure
As an accommodation to consumers, the Lac Vieux Desert Band of Lake Superior Chippewa Indians (“Tribe”) has established a Tribal Dispute Resolution Procedure to review and consider any and all types of complaints made by or on behalf of consumers. The Tribal Dispute Resolution Procedure is found at Section 9 of the Tribal Consumer Financial Services Regulatory Code, a copy of which may be obtained upon request. The Tribe intends and requires, to the extent permitted by applicable law, for any complaint lodged, filed, or otherwise submitted by you or on your behalf to follow the Tribal Dispute Resolution Procedure.
Under the Tribal Dispute Resolution Procedure, a consumer who, in the course of their otherwise lawful and proper use of Enterprise’s business, has concerns about the operation of any part of Enterprise or who otherwise believes himself or herself to be aggrieved by some aspect of the operation of any part of Enterprise’s business, shall direct his or her concerns or dispute in the first instance to Enterprise management, in writing. A consumer’s complaint to the Enterprise shall be considered similar in nature to a petition for redress submitted to a sovereign government, without waiver of sovereign immunity and exclusive jurisdiction, and does not create any binding procedural or substantive rights for a petitioner. After receipt of the complaint, Enterprise management will make an initial determination within a reasonable time in an effort, if possible, to resolve the consumer’s complaint. In the event that the consumer is dissatisfied with Enterprise’s initial determination, he or she may request review of Enterprise’s initial determination by submitting such request in writing to the Tribal Financial Services Regulatory Authority (“Authority”), P.O. Box 249, Watersmeet, MI 49969, no later than ten (10) days after receiving Enterprise’s initial determination. The Authority will investigate the facts and circumstances surrounding the consumer complaint and shall grant the consumer an opportunity to be heard via teleconference no less than ten (10) days but no more than sixty (60) days after the Authority concludes its investigation. Consumers shall be provided notice of the date and time scheduled for the teleconference by the Authority. The consumer may be represented by legal counsel at the consumer’s own expense. Within thirty (30) days of closing the investigation, or after the consumer’s opportunity to be heard, the Authority shall issue a written opinion regarding the consumer’s written request. A consumer may then appeal an Authority opinion by submitting such request in writing to the Tribal Council within twenty (20) days of receiving the Authority’s final written decision. Any determination by the Tribal Council on behalf of the Tribe or Tribal Financial Services Regulatory Authority, whether procedural or substantive, shall be made by the Tribal Council in its sovereign discretion. Any decision of the Tribal Council shall be final and not subject to appeal. Nothing within this Tribal Dispute Resolution Procedure shall be deemed or interpreted as a waiver of the sovereign immunity of the Tribe, or any wholly owned business entity operating as an economic arm of the Tribe, or any of their agents, principals, officers, employees or otherwise.


i called my HR department at work and they stated they have a lot of garnishments on PDL's and that it is legal for them to garnish wages...really confused!

that is long drawn out bunch of bullshit.respond excatly this way:


geez that long drawn out bunch of hooey means precisely dick.unless you extradite me to your tribal ground your laws mean dick.so i am willing to pay the 585.00 still owed on the principle,and will do so to the adderss at my schedule,and with money orders.to close unless you extradite me to your tribal ground you can't do squat so can the sovereign stupidity as it does not apply.i trust my position is clear.

respond just like that.they are tribal,but illegal; and know it.that is there standard lie and hope the person is stupid enouch to believe it don't.

your last statement about garnishments. Not disputing anyone but in order to garnish someones earnings wouldn't they have to have a court order to do so? They can't just send some tribal bull and your employer garnish your wages.

they can't garnish without a court order,and their bullcrap tribal court counts for nothing.they might submit a wage assignment.