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.
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.
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