Lakota Cash response to Letter help

Date: Thu, 07/15/2010 - 11:59

Submitted by anonymous
on Thu, 07/15/2010 - 11:59

Posts: 202330 Credits: [Donate]

Total Replies: 7

I sent the letter found here (changing it to my own, of course) to this company yesterday.
This is the response I got ~ can anyone let me know the best way to respond? Is it paid in full?
I'm confused ..

We are in receipt of your email regarding your account. As clearly indicated in its website disclaimers and the loan documents executed by you, Lakota Cash, LLC is a wholly Native American owned limited liability company. Our website clearly identifies its location within the exterior boundaries of the Cheyenne River Indian Reservation, a sovereign Native American Nation. As such, Lakota Cash, LLC conducts it business under Federal law and the laws of the Cheyenne River Sioux Tribe. It is exempt from state regulation due to its Native American status. Pursuant to Federal Law, Lakota Cash, LLC is a completely lawful enterprise in any area.

You agreed to be bound solely by the laws of the Cheyenne River Sioux Tribe and the jurisdiction of its Courts, to the exclusion of all others. In addition, you agreed to comply with

all terms and conditions of the Loan Agreement upon execution and return to our office located on the Reservation. Lakota Cash, LLC relied upon your representations in good faith and approved your loan based upon such representations. Lakota Cash, LLC loaned you the money in good faith that you would repay the note as promised. Lakota Cash, LLC is fully within its rights to require repayment as originally agreed. You may revoke our right to ACH your account, however you did not use your right to revoke wage assignment through the opt out clause on the contract you signed. We will not be calling you at your employment, however will be in contact with your employer. We understand that you may be experiencing difficulties in repayment of the loan. Your current balance is $487.50, however we will accept the amount paid as a pay in full. The terms of your contract will stand and we will not be refunding any payments to you.

Sincerely,

Carol Laib

Supervisor

a couple of points here. 1)any tribal loan is illegal as regar

a couple of points here.

1)any tribal loan is illegal as regardless they need a license to lend,and none of these places do.
2)get a WAGE ASSIGNMENT REVOCATION letter to your HR or payroll person asap.
3)since this is an illegal lender you only owe the principle.anything debited in fees goes towards the loan.if that amount matched or exceeded the principle you owe nothing.
4)if you haven't already,file AG,AND FTC complaints against this bogus pdl.

hope this helps.

lrhall41

Submitted by paulmergel on Thu, 07/15/2010 - 12:13

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Be happy with your paid in full and move on! Close your account

Be happy with your paid in full and move on! Close your account or put a block on it just in case!
As for Tribal status I beleive that licensing is still required on a state to state basis! Hopefully someone else can sort this out!

lrhall41

Submitted by Frogpatch on Thu, 07/15/2010 - 12:15

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Thanks to both of you for the quick response. I'm still not sur

Thanks to both of you for the quick response. I'm still not sure though ~ does this require an answer? The way I'm reading it, it is considered paid in full, however, why would they contact my employer then?

lrhall41

Submitted by on Thu, 07/15/2010 - 12:18

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i would take it,but keep on your guard as i wouldn't trust any s

i would take it,but keep on your guard as i wouldn't trust any supposed "sovreign nation"loan.notice the part stating they would contact their employer.sounds like a PIF,but again they mention contacting their employer.i hate all of these kind of loans.again give the revocation letter to your payroll person asap.

lrhall41

Submitted by paulmergel on Thu, 07/15/2010 - 12:22

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