Plain Green payday loan

Think Cash/Plain Green is illegal. You are right on that count. The loans from FBD on the other hand cannot be considered a payday loan as far as I can tell and therefore, the small loans law of your state don't apply to them.

For illegal lenders, you owe these guys nothing more than the principal. No fees, no interest. You need to read this and follow every step: http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html

I have a question: Is FBD showing up on your credit report?

Yes, FDB is showing up on my credit report. What does this mean?

Loan 1 and Loan 2 are not appicable as they were backed by a federally charted bank (FBD). Refigure your amounts with loans 3 - 5 and determine how much you either owe or are owed and move forward accordingly following the steps in the link you read previously.

Yes - I think the last time I pulled my credit report, I recall seeing FBD on there. What does that mean?

Okay, so I've determined that Plain Green took over and my first payment to them was on 4/29/11.

So, the total I paid Plain Green on Loan 3 was $783.55. The original loan amount on this one was $1000 and I've no way of knowing how much of that was interest.

Total paid on Loan 4 was $2592.22 (Interest $992.22).

Total paid on Loan 5 is $293.22 so far.

If I count the $783.55 + $992.22 + $293.22 = $2068.99. I'm thinking I'm going to call it even with them and not pay back the remaining principal balance on the current loan (principal $2000).

What do you guys think about this?

That's up to you but, either way, you don't owe them anything more.

Just as an aside, this is not a payday loan. It's an installment loan. Payday loan laws don't apply here. They're illegal because they are tribal and not licensed to lend in any state in the U.S.

:)

Thanks for the info, OhioGal1! What a relief not to be staring down 36 more payments and throwing more money away.

:p

Okay, so went to my bank and closed my account, and then sent the following email to PG on 7/3/11:

July 3, 2012

Plain Green Loans
Attn: Customer Support
93 Mack Road, Suite 600
PO Box 270
Box Elder, MT 59521

Re: Loan ID [URL="https://www.plaingreenloans.com/myaccount/RenderLoanAgreement?LoanId=64222815"]______[/URL]
[COLOR=black] [/COLOR]
[COLOR=black]After researching Internet loan laws in the State of Oregon, it has come to my attention that your company???s Internet loan activity is illegal. [/COLOR]

[COLOR=black][/COLOR]
[COLOR=black]I hereby revoke any and all ACH debit authorizations with your company and prohibit you from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with Chase bank to protect my interest in this matter, per instructions from my attorney. I also revoke any and all wage assignments I may or may not have signed with your company; I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected. [/COLOR]

[COLOR=black][/COLOR]
[COLOR=black]I demand that any contact be made through email only. I require all correspondence in written form in order to retain accurate records of all communication as per instruction from my attorney. I prohibit you, your company, or your affiliates from contacting me via telephone at my place of employment, my home, my cellular telephone number, or any other phone number. I also prohibit you from calling or contacting any and all references listed on my loan. [/COLOR]

[COLOR=black][/COLOR]
[COLOR=black]Due to the fact that Internet loan lenders must be licensed in the state of Oregon to form a legal and binding contract, your company should not issue loans to residents at all. I am requesting that you send me your license number which enables you to offer loans to Oregon residents. [/COLOR]This letter shall serve as notification that if you do not comply with this request, I reserve the right to file a complaint with the Better Business Bureau, the Federal Trade Commission, and the Oregon Attorney General Office.
[COLOR=black] [/COLOR]
[COLOR=black]If your Internet loan were legal in the United States, the legal amount that could have been charged to my loan is the principal amount. Therefore, I would be willing to pay the principle amount of the loan only. However, since you took over ThinkCash loans in April 2011 I have had three loans with you and the interest and fees that I paid on those ac[/COLOR][COLOR=black]counts more than satisfy this loan. Consequently, I consider us even. [/COLOR][FONT=Calibri][/FONT]

Upon your receipt of this letter, I expect no further collection efforts by you and that you cease and desist any and all said efforts. I consider myself absolved, this debt satisfied and finally this matter closed. At this time I am requesting a return email acknowledging that my loan has been paid in full[COLOR=black] no later than 5 days from the above date. This response may only come via email. No telephone or other contact is permitted.[/COLOR]

Regards,
[COLOR=black]
[/COLOR]
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[COLOR=black][FONT=Calibri][/FONT][/COLOR][FONT=Calibri][/FONT] And here is the response I received from them:

Thank you for your recent email.

Per your request as of 07/03/12 we have stopped any automatic payment drafts from your checking account; and we have updated your Plain Green account to reflect the same.

Please note, you are still obligated for repayment by the terms of the loan agreement you signed to accept the original funds. Your due date has not changed. Therefore to avoid late or missed payments you are required to make payment by an alternate source. We can accept Credit Card, Money Gram or Money Order payments.

You have an amount of $146.61 due on the date of 07/15/12. We are most interested in working with you to keep your account in good standing. If you have additional questions, please contact our Customer Support team at the number listed below.

Plain Green Loans

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So do I just ignore them from this point forward?

That's your first response. Next, they'll start telling you how your state's laws don't apply and you're obligated to repay for various reasons (federal law, tribal law, you signed the contract, etc.).

It's all BS.

Just keep responding that you'd like something acknowledging that your account has been paid in full.

Okay, will do. Thanks.

So here's what I sent on July 5:
Thank you for your prompt response and for stopping the automatic payment activity on my account. However, it appears that I must, again, reiterate the fact that I have discovered that your company???s Internet loan activity is illegal in the State of Oregon.


Due to the fact that Internet loan lenders must be licensed in the state of Oregon to form a legal and binding contract, the ???loan agreement??? you are referring to is null and void. Should you presume otherwise, I am requesting written proof of your license number which enables you to offer loans to Oregon residents.

If your Internet loan were legal in the United States, the legal amount that could have been charged to my loan is the principal amount. Therefore, I would be willing to pay the principle amount of the loan only. However, since you took over ThinkCash loans in April 2011 I have had three loans with you and the interest and fees that I paid on those accounts more than satisfy this loan. Consequently, I consider us even.


Upon your receipt of this letter, I expect no further collection efforts by you and once again demand that you cease and desist any and all said efforts. I consider myself absolved, this debt satisfied and finally this matter closed. At this time I am requesting a return email acknowledging that my loan has been paid in full no later than 5 days from the above date. This response may only come via email. No telephone or other contact is permitted.

And here's how they finally replied today (after not receiving my regularly scheduled payment):

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 $1706.78 . We suggest ten (10) monthly payments in the amount of $170.67 to settle this account. Payments would begin on July 31, 2012. Payments from any previous loan with Plain Green will not be applied to this balance. Payment was collected as contracted for.

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 accept this offer to settle your account and we can set up a payment plan.