Paying Back A Tribal Loan

[jbb27885]

Hello everyone,

I’m looking for a bit of advice. A few months ago, I made the stupid decision to take out a tribal loan through Arrowhead Advance. The interest rate on this loan is through the roof, 621%. I originally borrowed $400 and have already paid back over $600 and they say I have 4 payments remaining. I have done a little research and I have found a few threads on another site suggesting that these are illegal loans and recommended paying back the principle and then revolving ACH. Has anyone ever done this? Do these tribes have a leg to stand on if they were to sue for the balance? Can anyone give me any advice on how to proceed at all? I live in Oklahoma. The tribe the loan is through is not an Oklahoma tribe. Thanks!

[Hockeypnc1]

Curious to find out the rules on these as well.

[Anonymous]

That loan is almost double the APR maximum in Oklahoma. 

https://www.debtconsolidationcare.com/forum/paydayloan/dealingwith-illegallenders.html

Check that out, it’s got a full step by step for dealing with these loans.

[Anonymous]

One last thing to add. 

Be prepared to be harassed for the rest of your life.

My family and I, even my brothers ex wife get calls threating to serve me papers at my place of work or residence.  Of course they never come and in my case:

• PDL illegal in NJ
• Way past statute of limitations
• Included in CH7 

So there is no way they could collect but I guess I'm on a list that bounces around and around.

Unfortunately there really is nothing you can do to stop the illegal collection activity from these fly by night zombie debt purchasers from calling and harassing.  Sure it's illegal but they can't be stopped as it bounces around and around and around. The good news is my credit report is clean of these but I did have Cashcall as a collection but it has long since been removed.

In no way am I suggesting you pay them back more than principal and even if you paid it per the origional terms you might still get those harassing calls at some point in the future.  The calls are scary they sometimes know your social security number, employer, bank, dates of the loan....  

[RobertEG]

You should consult an attorney or call the office of the AG for your state.

Tribal law vs state law considerations will require legal counsel to evaluate, and I would not rely upon any advice offered in a forum.

[Anonymous]

Id get a lawyer familiar w this stuff
Yikes

[KangiCosmos]

Here is a link to another cosumer that posted his response letter from the lender. If you recieve a letter like this don't give in. The second link has an article where it has a link to the Supreme Courts decision regarding these types of loans. 

https://www.debtconsolidationcare.com/forum/paydayloan/texas-tribal.html

https://www.nclc.org/media-center/court-decision-signals-end-of-faux-tribal-payday-lending.html