Mobiloans and Cashwell in SC

Date: Thu, 02/28/2013 - 12:17

Submitted by anonymous
on Thu, 02/28/2013 - 12:17

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Total Replies: 3

I've got loans with Mobiloans and Cashwell in South Carolina. From the research I've done, it looks like Mobiloans is unlicensed in this state. I have paid them $395 of a $400 loan, so I am comfortable stopping the ACH on that one.

Has anyone heard of Cashwell? I can't find it in any forums, and it seems legitimate so far. Anyone have any information?

The one I've got is

The one I've got is mycashwell.com. I can find virtually no information about it other than what the website says.

lrhall41

Submitted by JWalk on Thu, 02/28/2013 - 16:59

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There are a couple

There are a couple different sites that come up for Cashwell. One is definitely tribal:
"Cashwell Loans is the pay day brand of American Lending LLC, a tribal lending entity wholly owned by the United Keetoowah Band of Cherokee Indians based on the Tahlequah, OK reservation, a sovereign nation located within the United States of America, and operates within the Tribe's Reservation.

American Lending LLC is located at 470852 Highway 51, Stilwell, Oklahoma 74960."

lrhall41

Submitted by diggerg on Thu, 02/28/2013 - 14:21

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Mobiloans is an illegal

Mobiloans is an illegal lender. You owe only the principal in this case. No fees, no interest. As far as Cashwell is concerned, they are licensed lender. In this case you are responsible for both the principal and interest. You may try to negotiate with them and set up a payment arrangement with them.

lrhall41

Submitted by on Thu, 02/28/2013 - 21:35

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