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Question about online payday installment loan lenders in Michigan

Date: Mon, 06/05/2017 - 14:43
Submitted by jdadscody on Mon, 06/05/2017 - 14:43
Posts: 5
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Does anyone know if these online payday loan installment lenders are legal in the State of Michigan:

Online:
Maxlend (Parshall, ND)
Elastic (Republic Bank & Trust Company)

Storefront:
Advanced America
Check N Go

If they are not legal, what are my options in getting out of them? I have closed my bank account access to them, but I have a feeling they are not going to be nice. Any input would be great!


Advanced America and Check N Go are legal lenders. Now that you have closed your bank account, it will force your account to collections. You can negotiate for a settlement with debt collectors.


Submitted by SC on Mon, 06/05/2017 - 22:05

SC

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So I just read that Maxlend is tribal affiliated. Doesn't that make them illegal in my state? I'm new to this whole thing. I have paid above and beyond the principal balances on these two loans.


Submitted by jdadscody on Tue, 06/06/2017 - 06:31

jdadscody

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I believe Maxlend and Elastic both are legal.
As "SC" said earlier, you might be getting collection calls soon. So, prepare yourself to handle the debt collectors wisely.
If they start calling and harassing you, ask them to stop calling and only communicate in writing.


Submitted by Barbara Delinsky on Tue, 06/06/2017 - 05:15

Barbara Delinsky

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Thanks for the input. I have actually paid over the principal amount for Maxlend. Am I due a refund? Also, does anyone know about Elastic and whether they are illegal in the state of Michigan as well?


Submitted by jdadscody on Wed, 06/07/2017 - 04:50

jdadscody

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