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Questions about online loan companies

Date: Tue, 09/10/2019 - 15:17
Submitted by Roy on Tue, 09/10/2019 - 15:17
Posts: 4
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Hello,

I’m so glad I found this site, very informative!

My question is does anyone have any knowledge about the following lenders and if the are actually legitimate, and if they are illegal in Maryland?

MoneyKey - limited information on the site, I cannot find my loan documents to review?
$1000 principle
$ 170 bi weekly payments. $340mo

Money Lion? Same situation
$2500 principle
$ 193 bi weekly. $ 386mo

Thank you for any information you can give me!

Very much appreciated

Roy






Can you tell me if the following lenders are legal in Indiana

MaxLend
Greenpine
GreenTrust
Bridge lending
Bright lending
Elastic
Mobile loans


Submitted by on Sat, 09/28/2019 - 00:17

( Posts: 202330 | Credits: )


Thank you. If I have loans with these illegal companies, what should I do to stop collections of interest? Can I request that they do not withdraw from my account any longer? Will they take legal action?


Submitted by on Sun, 09/29/2019 - 19:12

( Posts: 202330 | Credits: )


MaxLend - Tribal. Illegal
Greenpine - Tribal. Illegal.
GreenTrust - Tribal. Illegal
Bridge lending - Tribal. Illegal.
Bright lending - Tribal. Illegal
Elastic - Legal.
Mobile loans - Tribal. Illegal.


Submitted by Nick Jonas on Sat, 09/28/2019 - 02:38

Nick Jonas

( Posts: 427 | Credits: )


Thank you. If I have loans with these illegal companies, what should I do to stop collections of interest? Can I request that they do not withdraw from my account any longer? Will they take legal action?

Revoke ACH authorization so they can't withdraw from your account any longer. They can't take legal action against you. They can say a lot of things. But they can't do any harm to you.


Submitted by Nick Jonas on Wed, 10/02/2019 - 00:41

Nick Jonas

( Posts: 427 | Credits: )


Payday loans are not legal in Maryland. So, if you're facing problems, contact a consolidation or settlement company to find your way out. However, you can just arrange the principal amount and shrug off your debts.


Submitted by Mabelle Page on Wed, 09/11/2019 - 03:26

Mabelle Page

( Posts: 295 | Credits: )


Moneykey - Illegal in Maryland. Licensed as a Credit Services Organization (CSO) and Credit Access Business (CAB) in Ohio and Texas
Money Lion - Legal lender.

These are the general information on these 2 lenders. But as per the state laws, payday loans are not legal in Maryland. You have to pay only the principal amount.


Submitted by Nick Jonas on Wed, 09/11/2019 - 03:17

Nick Jonas

( Posts: 427 | Credits: )


Thank you so much for your help. I found out actually that what I thought Was Money Lion , is actually BetterCash.

BetterCash is charging 189% interest.
Bi weekly pmts of $193
Principle amount:: 2500
For 20 payments.

Do you guys have any information on this company? Does not seem legal because our small loan percentage cap like 24-33 %


Submitted by Roy on Wed, 09/11/2019 - 06:43

Roy

( Posts: 4 | Credits: )