member profile picture

I am normally better at finding this information but I found conflicting - so can anyone tell me if Spotloan is legal/licensed in California? $800 loan and paid back some - ethically I owe them what I borrowed, but if they are not legal in my state that is it. Can anyone tell me if they are ok in CA?

Spot Loan is an illegal tribal lender all over the state of US. You owe them nothing more than the borrowed amount. No interest, no fees. Simply close down your old bank account and open a new one to stop debiting money from your account. Don’t share any personal information with them.

Sub: #1 posted on Fri, 11/08/2013 - 10:45


Thank you. That has been done. It has now been sold to collections (nationwide) and I am debating on how to handle: agree to plan with collections co for original amount borrowed or C and D them including illegal loan status and see if they go away. ??

Sub: #2 posted on Fri, 11/08/2013 - 10:49


Go through this page to know more about how to deal with illegal lenders: th-illegallende...

Sub: #3 posted on Fri, 11/08/2013 - 17:12


c&d them certified mail return receipt(as you cannot c&d over the phone)then if they don't go away you sue them.simple never eh eh ever pay a bottomfeeder on an illegal loan as they will want the overinflated balance.not what you truly owe being the principle minus any debits taken.

Sub: #4 posted on Fri, 11/08/2013 - 19:09

paulmergel paulmergel
Moderators Cum Industry Expert
(Posts: 15511 | Credits: 1357.03)

They have my Spotloan account as well. called offering to settle for no less than $840. I only owe $262 on principal. The would not accept my offer. I received collection letter today. Any advice?

Sub: #5 posted on Sat, 11/09/2013 - 09:02


Mail a C&D to both Spotloan & the CA in the way that paul described, file a complaint through the state AG and the Federal Trade Commission about this Collection agency, as well as Spotloan themselves, then wait. If either of them violate the C&D you are at an advantage to sue, that would be very stupid of them to do

Keep documentation on EVERYTHING, especially how you have made an effort to pay back the principal so far, and even offered to continue doing so (and that they declined). This way if you ever do need to sue from them not leaving you alone, you are well equipped to prove that 1.) you made an effort to pay off the principal, and 2.) that they violated your C&Ds. This way they are in no viable position to counter sue you for "defrauding" them, which is the only position that they could even possibly sue you for as they are lending to you ILLEGALY, making the debt they attempt to collect on an ILLEGAL debt

Sub: #6 posted on Sat, 11/09/2013 - 13:50

Jeremy R- Jeremy R-

(Posts: 5 | Credits: 0.5)

I would also contact the State Dept of Corporations which is where you need to go to file a complaint against these people in California. Send the paperwork to them in Sacramento (Can't do it online, sorry) and you will get a response from them, I would make copies of all your documentation for the Dept of Corporations to go after them. They can also ban them from doing business in California.

Sub: #7 posted on Sun, 11/10/2013 - 21:41

kscornell kscornell
(Posts: 4409 | Credits: 473.19)

More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.

Share post

Page loaded in 1.145 seconds.