Share post
Share
Debt Consolidation Forums Payday Loan help forums

PDL in Illinois Legal or Not?

Date: Wed, 08/29/2018 17:36
member profile picture
Posts: 1
Credits: 0
[Donate]

Hi,

I have installment loans with the following companies (all owned by Indian Tribes) and I checked my state's website for licenses and they didn't have any and I wanted to make sure I am correct before I start following the steps to stop the ACHs and emailing them.

Green Trust Cash, LLC
Inbox Loans
North Cash

Below is the website I used to search for licenses. Please advise .

PS: Loan companies owned by Tribes still need state licences correct?

https://www.obresecureclear.state.il.us/CLEAROnlineWeb/Lookup/LicenseLookup.aspx

Thanks,
Don




Hey! Your information is absolutely correct. Yes. They need state licenses to operate in your state. So go ahead and the stop the ACH. You will get a few emails from them. But you can ignore them happily. Don't worry!!!!

Sub: #1 posted on Thu, 08/30/2018 - 04:29

Nick Jonas Nick Jonas

(Posts: 425 | Credits: )

They are not legal lenders. They have no right to do the business in your state. Pay the principal amount and revoke the ACH authorization. They can't force you for the interest rate.

Sub: #2 posted on Thu, 08/30/2018 - 04:46

sanderspatricia29 sanderspatricia29

(Posts: 1234 | Credits: )

Hey Don,
You are absolutely right. You should immediately revoke ACH and stop any kind of communication with them. They can't take any legal steps against you.

Sub: #3 posted on Thu, 08/30/2018 - 23:01

Barbara Delinsky Barbara Delinsky

(Posts: 432 | Credits: )

Attachment
More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.


DebtConsolidationCare (IAPDA member)
BBB (A+) logo for DebtCC
Connect With Us
About Us | Contact Us | Privacy Policy
Copyright © 2020 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 2.164 seconds.