Mobiloans
Total deposited: $600 Total paid: $830
With the information received on this forum, I sent them a letter letting them know that I am aware they are an illegal lender and that I will not be making anymore payments to this account.
I hope this gets resolved.
I sent them an email today with the following:
To whom it may concern,
It has come to my attention that your company is unlicensed and illegal in my state. All lenders must be licensed by the state of California in order to offer loans to its residents. Therefore, the loan contract that I have with you, according to my state's laws, is not valid or enforceable. However, I am willing to repay the principal balance of the loan
To date, I received a deposit of $600 on 10/05/2012. I have made bi-weekly payments totaling $830. This results in an over-payment of $230.00
I am requesting an email acknowledging that my loan has been paid in full. Also, I would like a refund of the over-payment amount. A refund check should be mailed to me at the address you have on file.
I am revoking authorization for ACH withdrawals and any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer.
I have contacted the California State Attorney General, the Federal Trade Commission (FTC) and California Department of Corporations.
Please respond to this email with acknowledgment that you have received this notice.
Update
Notice Received:
Your correspondence has been directed to me for review.
We are sorry you are not satisfied with your Mobiloans Line of Credit. After reviewing your account history, we are willing to consider the account paid in full and will close your account from further activity.
To answer your questions regarding the legality of this loan, your Account Agreement indicates that your Account is governed by the laws of the Tunica-Biloxi Tribe of Louisiana, (the “Tribe”) a sovereign nation recognized by the United States of America. As such, the laws of the Tribe permit Mobiloans to offer the Account in accordance with Tribal law.
In addition, Mobiloans, LLC (“Mobiloans”) is organized under the laws of the Tribe, is owned and operated by the Tribe, and operates exclusively on land owned by the Tribe. As such, Mobiloans is an “arm of the Tribe,” and entitled to sovereign immunity and therefore not subject to any state laws.
In any event, pursuant to your request, we have removed your contact numbers from our system and we will make no further ACH debits from your account.
Thank you again for your time and consideration.
Mobiloans Customer Support Team
