Please offer advice on my proposed solution. I have several loans - some "tribal" payday loans - some valid installment loans. I sent ACH revocation letters and am closing my bank account (I did this before I realized some were valid). These are the ones I think are valid loans and I'm working with a company that had a good BBB rating to negotiate the amounts down and to consolidate the payments for me:
MoneyLion - 1500 original loan, roughly $800 payments made to date
LeapCredit - $800 original loan, roughly $600 remaining in principal
Total Loan Company - $800 loan - no payments made yet
These are the ones I believe are tribal payday loans that have charged interest in excess of my SC state laws and I have sent the following proposals to:
Mountain Summit - offered to pay $119 in remaining principal - no response yet
Balance Credit - significantly overpaid the principal - asked for a roughly $500 refund - no response yet
Bridge Lending - offered to pay $50 in remaining principal - got the typical "we don't have to obey state laws because we're tribal and if you don't want to pay by ACH you can pay by debit card, credit card or prepaid card" response. Responded back with I'm still going to abide by my state laws and I'm only going to pay with cashier's check and if they want their $50, please respond with an address to mail that to - no response to that yet
Blue Horizon Loans - principal paid off - told them I was not going to be sending any more payments - got a response saying please call us to discuss your account - I have not followed back up yet - should I just re-send the letter or do nothing further?
MyPayDay Loans - have satisfied principal - haven't sent them a letter yet but will send one saying I'm paid up and won't be sending any more payments
Does my plan sound good? Are there any lenders you see in the 2nd group that you think are valid lenders and I SHOULD include them with the debt consolidation and pay what they say I owe to protect myself? Or am I okay to stick with the proposals I have made to them?