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I have 2 online loans with solid oak finance and 1 with bridge lending solutions, how do I know if they are legal and I need to pay them? I live in illinois.




Solid Oak Finance - They are not legal. They are tribal lenders. So you have to pay the principal amount.
Bridge lending solutions - They are owned and operated by Native American business organized under the Laws of the Lac Du Flambeau Band of Lake Superior Chippewa Indians. So you have to pay only the principal amount.

Sub: #1 posted on Wed, 10/03/2018 - 21:24

David Martin David Martin

(Posts: 103 | Credits: 10.39)

Thank you, so should I inform them that I am revoking my ach authorizations and then tell them I will pay them back only the principle in installments? Also I had completed a current loan with both of them before getting current loans and carried out both loans full term at like 740% apr for bridge lending and 941% apr for solid oak. I feel like I have more than paid for both principles just in previous loan apps. What should I do?

Sub: #2 posted on Thu, 10/04/2018 - 12:37

ericw3588 ericw3588

(Posts: 5 | Credits: 0.61)

Thank you, so should I inform them that I am revoking my ach authorizations and then tell them I will pay them back only the principle in installments?


First revoke the ACH authorization and then inform them. Otherwise, they may withdraw money.

Also I had completed a current loan with both of them before getting current loans and carried out both loans full term at like 740% apr for bridge lending and 941% apr for solid oak. I feel like I have more than paid for both principles just in previous loan apps. What should I do?


You should ask for a refund.

Look at this thread:

https://forums.debtcc.com/paydayloan/dealingwith-illegallenders.html

Sub: #3 posted on Fri, 10/05/2018 - 05:34

David Martin David Martin

(Posts: 103 | Credits: 10.39)

Sent email stating they were illegal and so were interest rates. Also stated payments I had made covered principle and requested paid in full letter. This is their response. How should I reply?

Please keep in mind that Bridge Lending Solutions is a properly licensed tribal lending entity wholly owned by the Lac Du Flambeau, Wisconsin, a sovereign nation located within the United State of America, operating within the Tribe’s Reservation and governed by the Tribe’s Regulatory Authority.



As stated in your loan agreement, upon your signature and acceptance of the Loan Agreement, you entered into a Loan Agreement with a Federally Recognized American Indian Tribe and as such, the laws of the state where you reside are not applicable to this loan agreement. Bridge Lending Solutions, is a legal tribal lending entity offering installment loans to consumers and is not violating tribal or applicable federal laws. Therefore, you are obligated to perform to the terms you agreed to under the loan agreement.



Please refer to the Governing Law and special note portion of your contract for detailed information. Feel free to contact me should you have any questions

Sub: #4 posted on Tue, 10/09/2018 - 09:20

ericw3588 ericw3588

(Posts: 5 | Credits: 0.61)

That responce was France bridge lending solutions, I have yet to hear back from solid oak finance

Sub: #5 posted on Tue, 10/09/2018 - 09:31

ericw3588 ericw3588

(Posts: 5 | Credits: 0.61)

This is a normal response. I'm not surprised. Don't worry. Stick to your point. Send them another letter and ask them to give you a refund.

Sub: #6 posted on Wed, 10/10/2018 - 02:19

David Martin David Martin

(Posts: 103 | Credits: 10.39)

Just received this email. Any thoughts on this?

Account: 68769



Balance: $870.00



Hi Eric,

I just reached out to you on the phone.

You are welcome to call me or respond to this email. I look forward to working with you.

Bridge Lending Solutions (BLS) recently emailed a tailored payment arrangement that provided you with options to help navigate your financial situation. You have been unresponsive in efforts to communicate with BLS via email and/or phone. Please keep in mind that your online signature is fully enforceable in accordance with the terms outlined in your installment loan agreement. It is BLS’s intention to resolve this financial matter prior to it being sent to a 3rd party collection agency. Should this occur, this could possibly affect your credit profile as well as accrue additional fees. For your installment loan to remain in our office, it is imperative you contact me, (608)416-8545 immediately to discuss and secure a payment arrangement.

This time sensitive opportunity to take advantage of the options presented to you can only be resolved with your willingness to communicate with BLS.

Sub: #7 posted on Wed, 10/10/2018 - 08:43

ericw3588 ericw3588

(Posts: 5 | Credits: 0.61)

Please keep in mind that your online signature is fully enforceable in accordance with the terms outlined in your installment loan agreement.


Nothing is enforceable because they are illegal lenders.
It is BLS’s intention to resolve this financial matter prior to it being sent to a 3rd party collection agency. Should this occur, this could possibly affect your credit profile as well as accrue additional fees.
It is BLS’s intention to resolve this financial matter prior to it being sent to a 3rd party collection agency. Should this occur, this could possibly affect your credit profile as well as accrue additional fees.


This was possible if they were a licensed lender in your state. Send them a letter stating that you'll take the matter to the State Attorney General if they threaten you like this. You only owe the principal amount. That's it.

Sub: #8 posted on Fri, 10/12/2018 - 02:36

David Martin David Martin

(Posts: 103 | Credits: 10.39)

If they again contact you for the money, then make a complaint against them to your State's Attorney general.

Sub: #9 posted on Fri, 10/12/2018 - 05:50

sanderspatricia29 sanderspatricia29

(Posts: 728 | Credits: 75.94)

Illegal payday loan lenders or tribal lenders can't force you you make payments more than the principal amount. If BLS do the same thing, make a complaint against them to your State's Attorney generals office.

Sub: #10 posted on Sat, 10/13/2018 - 04:59

tiarajoseph11 tiarajoseph11

(Posts: 330 | Credits: 45.57)

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