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Tribal Installment Loan Help in MA

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Posts: 6
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Hi everyone,

Last fall I had to resort to Installment/pdl to make endsmeet after an unexpected bill. Now I'm getting trapped into another debt spiral because of the repayment terms of these loans.

I have two loans:

1. Inbox Loan
Loan amount: $475
Interest: 640%
Loan date: 9/25/17
Loan repayment date: 9/21/18
Amount paid back to date: $1824.01

2. Lendgreen/Niiwin, LLC
Loan amount: $1200
Interest: 780%
Loan date: 11/6/17
Loan repayment date: 8/13/18
Amount paid back to date: $3612.88

I live in Massachusetts and it looks like neither of these companies are licensed to lend in my state (can't find them on the NMLS either).

In reading through the forums it appears that the loans are in violation of MA usury laws and otherwise unenforceable due to the lack of lending license in MA. Do I have any recourse to either get these interest rates lowered or get out from under these loans? I'm not one to not repay debts, but these are killing me.

Finally got a response from Inboxloans, they are trying to get me to pay the balance. I'll send them a final email and then file a complaint with the Mass AG.

Sub: #11 posted on Tue, 04/03/2018 - 07:31

Craig S Craig S

(Posts: 6 | Credits: )

Decided to forgo that email and instead filed a complaint with AG. I did email inboxloans back to inform them of my actions (politely).

Sub: #12 posted on Tue, 04/03/2018 - 11:18

Craig S Craig S

(Posts: 6 | Credits: )

Best of luck!

Sub: #13 posted on Fri, 04/06/2018 - 06:16

Sanders Patricia Sanders Patricia

(Posts: 1234 | Credits: )

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