Finally recieved this email from mobiloans! Thank you everyone for all your advice! Feels great to have this burden removed!
Your correspondence has been directed to me for review.
We are sorry you are not satisfied with your Mobiloans Line of Credit. After reviewing your account history, we are willing to consider the account paid in full and will close your account from further activity.
To answer your questions regarding the legality of this loan, your Account Agreement indicates that your Account is governed by the laws of the Tunica-Biloxi Tribe of Louisiana, (the “Tribe”) a sovereign nation recognized by the United States of America. As such, the laws of the Tribe permit Mobiloans to offer the Account in accordance with Tribal law.
In addition, Mobiloans, LLC (“Mobiloans”) is organized under the laws of the Tribe, is owned and operated by the Tribe, and operates exclusively on land owned by the Tribe. As such, Mobiloans is an “arm of the Tribe,” and entitled to sovereign immunity and therefore not subject to any state laws.
In any event, pursuant to your request, we will make no further ACH debits from your account.
Thank you again for your time and consideration.
Mobiloans Customer Support Team