\"tribal\" lending companies

Are \"tribal\" payday loan companies immune from any of the laws?

5 Answers

in fact let me weigh in.not only do you only owe the 300.00,but anything debited prior to default gets deducted from that.example:

 

you say you borrowed 300.00.they debit 90.00 four times you not only no longer owe them but they owe you the 60.00 you overpaid.so try to recal how much was debited up to default.you will be suprised by how little if anything you do owe.

giving hope to the hopeless,help to the helpless,and hap to the hapless.

If the company is tribal then it’s sure that they are illegal. So you are liable only for $300 loan that means only for the borrowed amount.


My understanding is that payday lending is legal in Ohio but this company is not licensed.  I'm so confused.  Do I still owe them $798.00 on a $300.00 payday loan that I defaulted or not?


Tribal lending companies are illegal. Don't take out any loan from them. 


All payday loan companies have to follow the state laws. They are not immune from those laws.


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