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Legal in TX

Date: Fri, 09/04/2020 09:50

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My husband currently has 4 payday loans, but now that we are looking into them I think they may be illegal. We live in TX and I think they are tribal loans? Are tribal loans illegal in all states? They are:

Freedom cash lenders: $400
Liberty Cash: $400
605 Lending: $550
Lakeshore Lending: $400

Thanks for any help!

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Total Replies: 9

Hello KLB!

Arizona, Arkansas, Connecticut, Georgia, Maryland, Massachusetts, New Jersey, New York, North Carolina, Pennsylvania, Vermont, West Virginia, and the District of Columbia are the 13 states that have banned payday loans.

Payday loans are legal in Texas.

However, if you need any help you can contact the Texas Office of Consumer Credit Commissioner (OCCC). You can seek assistance from the Texas Attorney General’s office too.

You can call on this number 800-DEBT-913 to get valuable information.

Thanks.

Sub: #1 posted on Mon, 09/07/2020 - 07:05

Ryan Miller

(Posts: 249 | Credits: )

I know payday loans are legal in TX, however it looks like these are all tribal loans. I was asking for verification that they are in fact tribal and wondering if tribal loans are still legal in TX?

Sub: #2 posted on Mon, 09/07/2020 - 07:09

KLB

(Posts: 10 | Credits: )

605 Lending - tribal
Lakeshore Lending - tribal

Tribal lenders are not licensed in texas. Hence, they are illegal. You are only required to pay the principal amount. That is all.

Freedom cash and Liberty Cash are pretty smart lenders. Have you borrowed from Freedom Cash or Freedom cash Advance?

Sub: #3 posted on Mon, 09/07/2020 - 22:48

David Martin

(Posts: 388 | Credits: )

Thank you. The lenders are Liberty Cash Lenders and Freedom Cash Lenders.

Sub: #4 posted on Wed, 09/09/2020 - 09:00

KLB

(Posts: 10 | Credits: )

Liberty cash Lenders - Not getting anything that confirms the fact that they are tribal. Did you find any information that states they are tribal? Texas doesn't have any cap on the loan amount also.

Freedom Cash Lenders - Same with them. Didn't find anything that confirms they are illegal. But they do have a lot of complaints against them. How much interest rate are they charging?

Sub: #5 posted on Mon, 09/14/2020 - 21:57

David Martin

(Posts: 388 | Credits: )

The websites are:

libertycashlenders.com
freedomcashlenders.com

Sub: #6 posted on Fri, 09/18/2020 - 10:34

KLB

(Posts: 10 | Credits: )

I didn't find anything that says these 2 lenders are tribal. I didn't find anything on their websites. Why are you thinking that these lenders are tribal? Did you find anything as such?

Sub: #7 posted on Tue, 09/22/2020 - 22:13

David Martin

(Posts: 388 | Credits: )

This is at the bottom of each of their websites:

/// LIBERTY CASH LENDERS
Liberty Cash Lenders is one of the best online lenders in the business. Liberty Cash Lenders is a Tribal enterprise, wholly owned and operated by the Big Valley Band of Pomo Indians, a federally-recognized American Indian tribe and sovereign government.

/// FREEDOM CASH LENDERS
Freedom Cash Lenders is one of the best online lenders in the business. Freedom Cash Lenders is a Tribal enterprise, wholly owned and operated by the Big Valley Band of Pomo Indians, a federally-recognized American Indian tribe and sovereign government.

Sub: #8 posted on Thu, 09/24/2020 - 07:16

KLB

(Posts: 10 | Credits: )

Freedom cash lenders is saying that they have seen this before where people have just copied and pasted a form letter and its misinformation because their loan is fully enforceable and the fact that he has more than one tribal loan shows that he most likely took these with no intention of paying them back. This is not the case, we intend to pay back the principal only and they said that is not acceptable as they are absolutely following federal laws and expect payment in full within 2 weeks in order to terminate the contract. Is this true? He is scared they are going to come after him saying he took the loan with no intention of repaying when truthfully he iust had no clue that tribal loans were illegal til doing research on them.

Thanks for any help.

Sub: #9 posted on Tue, 10/06/2020 - 08:05

KLB

(Posts: 10 | Credits: )