Tribal Loans

[Ower]

Jurisdiction

Connecticut

I'm so embarrassed by this but I must ask. I and my husband on separate occasions have had loans with a tribal lender without any problems. We each have one out now and there has been a development with my health (cancer) and we are going to have trouble paying the balance of these loans. In my situation, I collect social security retirement so I believe that can't touch that. And, from what I'm told, they have no legal rights in my state. They are prohibited from lending in Connecticut.

I worry about my husband though because he has a job and I wouldn't want them calling his work or harassing him.

We have paid $2398 on $1100 in loans (paid off). They are notorious for the high cost of borrowing.

I guess my question is - what can they legally do to us? I've closed my checking account as they take it directly. With my health concerns, who knows how much time I have left and better to pay medical bills and the premiums.

Thanks in advance

 

[army judge]

I'm so embarrassed by this but I must ask. I and my husband on separate occasions have had loans with a tribal lender without any problems. We each have one out now and there has been a development with my health (cancer) and we are going to have trouble paying the balance of these loans. In my situation, I collect social security retirement so I believe that can't touch that. And, from what I'm told, they have no legal rights in my state. They are prohibited from lending in Connecticut.

I worry about my husband though because he has a job and I wouldn't want them calling his work or harassing him.

We have paid $2398 on $1100 in loans (paid off). They are notorious for the high cost of borrowing.

I guess my question is - what can they legally do to us? I've closed my checking account as they take it directly. With my health concerns, who knows how much time I have left and better to pay medical bills and the premiums.

Thanks in advance

First of all, I pray your health improves.
Hang in there, miracles happen everyday.

Your state, CT, doesn't allow "payday loan scammers" to operate at all in your state.

Pay Day Loans

Legal Status of Payday Loans by State


No one can guarantee you what another will or won't do.
Yes, social INsecurity funds are generally judgment proof.
Yes, your husband might be at risk.
If, as you posit, the lender isn't authorized to operate in your state, you can complain to these agencies:

Pay Day Loans


Prohibition of payday lending industry in Connecticut | Cash Advance. Payday Loans Online: No Credit Check, No faxing.


More info:

Payday Lenders Are Using The Internet To Evade State Law

Is That Payday Loan You Took Out Even Legal | The Money Coach

 

[ower]

Thank you for your reply.

I am in a really bad emotional state right now and don't really want to deal with all of this. Still recovering from surgery and if I don't at least lower the payments on these loans, I won't be able to pay the medical insurance premium. To me, that is more important now than anything, but if there starts to be scary consequences with this lender, I won't know what to do, especially for my husband's. I can't even think clearly right now. I'm usually the one who handles everything.

First of all, I pray your health improves.
Hang in there, miracles happen everyday.

Your state, CT, doesn't allow "payday loan scammers" to operate at all in your state.

Pay Day Loans

Legal Status of Payday Loans by State


No one can guarantee you what another will or won't do.
Yes, social INsecurity funds are generally judgment proof.
Yes, your husband might be at risk.
If, as you posit, the lender isn't authorized to operate in your state, you can complain to these agencies:

Pay Day Loans


Prohibition of payday lending industry in Connecticut | Cash Advance. Payday Loans Online: No Credit Check, No faxing.


More info:

Payday Lenders Are Using The Internet To Evade State Law

Is That Payday Loan You Took Out Even Legal | The Money Coach

 

[army judge]

Thank you for your reply.

I am in a really bad emotional state right now and don't really want to deal with all of this. Still recovering from surgery and if I don't at least lower the payments on these loans, I won't be able to pay the medical insurance premium. To me, that is more important now than anything, but if there starts to be scary consequences with this lender, I won't know what to do, especially for my husband's. I can't even think clearly right now. I'm usually the one who handles everything.

Hang in there.
I know it's scary, but take care of your medical needs.
Have your hubby follow your example, close his bank account and clean it out.
Use cash and money orders until you clear this up.
Step by step, hour by hour, day by day.

 

[ower]

Well, I've sent an email regarding my account, explained the situation and told them that I closed my bank account and no longer authorize any more withdrawals. I don't really care if they call me about it. I don't think they can do anything else.

On my husband's, I was toying with the idea of notifying them of a change of circumstances and reminding them of how much he's already paid in interest (enough that would pay off the current loan with money left over) which is against Connecticut Law and offering a monthly payment that we can afford which would pay off the principal in 10 payments. I would also tell them not to call or contact the workplace regarding this matter.

Now, if I go ahead and do that (I doubt that they would agree) what can they do if I honor my word and send the money even if I hear nothing back from them? Do they have any recourse in Connecticut?

It's sad because they report to the credit bureaus and my credit score has improved over the last year.

Hang in there.
I know it's scary, but take care of your medical needs.
Have your hubby follow your example, close his bank account and clean it out.
Use cash and money orders until you clear this up.
Step by step, hour by hour, day by day.

 

[army judge]

Well, I've sent an email regarding my account, explained the situation and told them that I closed my bank account and no longer authorize any more withdrawals. I don't really care if they call me about it. I don't think they can do anything else.

On my husband's, I was toying with the idea of notifying them of a change of circumstances and reminding them of how much he's already paid in interest (enough that would pay off the current loan with money left over) which is against Connecticut Law and offering a monthly payment that we can afford which would pay off the principal in 10 payments. I would also tell them not to call or contact the workplace regarding this matter.

Now, if I go ahead and do that (I doubt that they would agree) what can they do if I honor my word and send the money even if I hear nothing back from them? Do they have any recourse in Connecticut?

It's sad because they report to the credit bureaus and my credit score has improved over the last year.

It might be easier if you work with the Attorney General in CT.


Attorney General: Consumer Issues


It's always best to cease communication.
All these creeps want is money.

 

[ower]

Well, I did hear back from them on my loan. They've removed all of my contact information preventing agents from contacting me and they will make no further debits from my account.

They quote the principal balance at about half of what it is. They offered me two payments to pay it off. Still to high but this response gives me hope for my husband's. I don't think they know there is a link between us. We don't share the same last name. I think because everything is pretty much automated they would have to research a little to see the same bank account and address.

They did say that they have directed my correspondence to their office to review.

It might be easier if you work with the Attorney General in CT.


Attorney General: Consumer Issues


It's always best to cease communication.
All these creeps want is money.