Share post
member profile picture

I am a resident of NC and took out a loan with Lakota Cash. I was paying back for a while but later discovered what i was paying was just the renewal fee and not going towards the loan. I followed the steps of notifying my back and writing a letter advising of how this isnt legal in NC and how I wanted to pay back but not through the debits from my personal acct. in response they sent me the follwing and i am not sure what to do at this point.
Please help.

This is what was sent to me. an highlighted section in the contract i e-signed:

This Loan Contract is subject solely to the exclusive laws and jurisdiction of the Cheyenne River Sioux Tribe, Cheyenne River Indian Reservation. By utilizing our website, you are conducting business on the Cheyenne River Indian Reservation, and subjecting yourself exclusively to the laws and jurisdiction of the Cheyenne River Sioux Tribe, a sovereign Native American Nation. By executing this Loan Contract, you, the borrower, hereby acknowledge and consent to be bound to the terms of this Loan Contract, consent to the sole subject matter and personal jurisdiction of the Cheyenne River Sioux Tribal Court, and further agree that no other state or federal law or regulation shall apply to this Loan Contract, its enforcement or interpretation.

In this Consumer Loan Agreement (hereinafter, the "Loan Agreement,") the words "you" and "your" mean the borrower who has electronically signed it. The words "we," "us," "our" and "Lender" mean Payday Financial, LLC, a lender organized under and authorized by the laws of the Cheyenne River Sioux Tribe and Indian Commerce Clause of the Constitution of the United States of America.




Have you closed your bank account?? Done an ach revocation? Voluntary wage assigment revocation??


Send this to them.


Dear Lakota cash...


Please do not hand me anymore of your tribal trash talk. I do not live on your reservation and thus I am not subject to your laws. You know as well as I do that you need to be licensed in my state to lend and yet you choose to make these loans. Legally I owe you nothing. Morally I will pay you the principal back only..no fees and no interest. I will pay you back at MY convienence via postal money order.


Govern yourself accordingly.


Sub: #1 posted on Tue, 05/21/2013 - 14:12

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

no pdl is legal in NC so the OP should tailor their response to reflect that tidbit.


Sub: #2 posted on Tue, 05/21/2013 - 15:13

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15514 | Credits: )

Paul...she already did that in her original letter


Sub: #3 posted on Wed, 05/22/2013 - 06:03

SOAPLADY SOAPLADY
Moderators Cum Industry Expert
(Posts: 17319 | Credits: )

sorry don't mean to step on toes,but i was refering to the response you crafted soaplady as it stated that a lender must be licensed in their state.again don't mean to step on toes here.


Sub: #4 posted on Wed, 05/22/2013 - 06:10

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15514 | Credits: )


Page loaded in 1.246 seconds.