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.
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?
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?
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
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.
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.
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.
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
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Sub: #2 posted on Thu, 10/04/2018 - 12:37
(Posts: 5 | Credits: )
First revoke the ACH authorization and then inform them. Otherwise, they may withdraw money.
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
(Posts: 394 | Credits: )
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
(Posts: 5 | Credits: )
Sub: #5 posted on Tue, 10/09/2018 - 09:31
(Posts: 5 | Credits: )
Sub: #6 posted on Wed, 10/10/2018 - 02:19
(Posts: 394 | Credits: )
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
(Posts: 5 | Credits: )
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.
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
(Posts: 394 | Credits: )
Sub: #9 posted on Fri, 10/12/2018 - 05:50
(Posts: 1234 | Credits: )
Sub: #10 posted on Sat, 10/13/2018 - 04:59
(Posts: 467 | Credits: )