Another pdl problem. Lendor not accepting just principle
Loan amount was for $625
I've offered to pay $100 a month (then $25) for settlement of principle....here is their reply...How should I reply
Re: Your MaxLend Loan # 43738255
I am writing on behalf of MaxLend in response to your recent fax. MaxLend strives to assist consumers with their short term cash needs and is concerned that you were disappointed with your most recent experience.
Please be advised, however, that your loan was made pursuant to MaxLend’s lending license. MaxLend is a brand of Makes Cents, Inc., a tribal corporation organized under tribal law and is an instrumentality of, and wholly-owned and controlled by the Mandan, Hidatsa, and Arikara Nation (“MHA”), a federally recognized sovereign American Indian Tribe. Your loan is made by us as provided in the Nation’s Tribal Credit Transaction Code. MaxLend contracts, including the loan agreement you signed, clearly designate MHA law as governing its transactions and provide all disclosures required by MHA and U.S. federal law. MaxLend has no physical presence in the State of New Jersey and does not solicit New Jersey consumers via mail, television, or radio advertisement. We are not subject to its regulatory jurisdiction. In order to obtain a loan from MaxLend a New Jersey consumer must log on to the internet and access MaxLend website, just as you did. You received documents in conjunction with your loan fully describing how the finance fees are applied and your repayment options, and you agreed to these terms, including the applicability of MHA (not New Jersey) law to the transaction, with electronic signatures in multiple places. Should you require another copy of your documents, or if you need clarification on points referenced in the documents, please contact us. A careful review of those documents should resolve your concerns regarding the terms applicable to your loan.
Notwithstanding the foregoing, we would like to offer a settlement in the amount of $814.76 to be paid in eight monthly payments of $100.00 and a final payment of $14.76. Once satisfied, we would then mark your account “closed and settled in full”. MaxLend is taking this action without legal obligation to do so because of our ongoing commitment to customer satisfaction and for no other reason. We hope that this action on our part will resolve your concerns.
Thank you for the opportunity to clarify this matter and address your concerns.