Radiant Cash tribal loan in Florida
Date: Mon, 04/29/2019 - 09:39
Hello,
I took out an emergency loan from Radiant cash for $300.00. I have never taken out a loan before and was uneducated on the laws regarding installment loans.
When i went to pay the representative said it is accumulating at $50 dollars a day! Obviously this led me to fall behind.
I emailed them with the advice from this forum regarding the laws and that I am revoking ACH and no longer obligated to pay over my principal.
They replied advising I signed the documents and i must pay the full installments.
Four payment of $76.31 have been debited from my account totally $305.24.
What do i do from here? I updated my bank to not allow debits from Radiant Cash.
Any help is more than welcome.
Thank you so much.
I took out an emergency loan from Radiant cash for $300.00. I have never taken out a loan before and was uneducated on the laws regarding installment loans.
When i went to pay the representative said it is accumulating at $50 dollars a day! Obviously this led me to fall behind.
I emailed them with the advice from this forum regarding the laws and that I am revoking ACH and no longer obligated to pay over my principal.
They replied advising I signed the documents and i must pay the full installments.
Four payment of $76.31 have been debited from my account totally $305.24.
What do i do from here? I updated my bank to not allow debits from Radiant Cash.
Any help is more than welcome.
Thank you so much.
They are not legal in US.
They are not legal in US. They are operated by Lac Du Flambeau Band of Chippewa Indians, a tribal company. This is why you're only required to pay the principal amount. Okay. They would always say that you have signed the documents and must pay the full installments. That's their normal dialogue. Nothing new in it. Ask for a refund from them in writing.
They are not legal my friend!
They are not legal my friend! Lac Du Flambeau Band of Chippewa Indians are tribal lenders, they aren't legally allowed to do lending business in USA. So, in case of this tribal loan, you need to pay only the principal amount.