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Tribal Installment Loan Help in MA

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Hi everyone,

Last fall I had to resort to Installment/pdl to make endsmeet after an unexpected bill. Now I'm getting trapped into another debt spiral because of the repayment terms of these loans.

I have two loans:

1. Inbox Loan
Loan amount: $475
Interest: 640%
Loan date: 9/25/17
Loan repayment date: 9/21/18
Amount paid back to date: $1824.01

2. Lendgreen/Niiwin, LLC
Loan amount: $1200
Interest: 780%
Loan date: 11/6/17
Loan repayment date: 8/13/18
Amount paid back to date: $3612.88

I live in Massachusetts and it looks like neither of these companies are licensed to lend in my state (can't find them on the NMLS either).

In reading through the forums it appears that the loans are in violation of MA usury laws and otherwise unenforceable due to the lack of lending license in MA. Do I have any recourse to either get these interest rates lowered or get out from under these loans? I'm not one to not repay debts, but these are killing me.




Best of luck!

Sub: #1 posted on Fri, 04/06/2018 - 18:46

sanderspatricia29 sanderspatricia29

(Posts: 534 | Credits: 56.24)

Decided to forgo that email and instead filed a complaint with AG. I did email inboxloans back to inform them of my actions (politely).

Sub: #2 posted on Tue, 04/03/2018 - 23:48

Craig S Craig S

(Posts: 6 | Credits: 0.72)

Finally got a response from Inboxloans, they are trying to get me to pay the balance. I'll send them a final email and then file a complaint with the Mass AG.

Sub: #3 posted on Tue, 04/03/2018 - 20:01

Craig S Craig S

(Posts: 6 | Credits: 0.72)

Register in forums.

Do i need to close my account down and open a new one

Yes. Immediately.

Sub: #4 posted on Mon, 04/02/2018 - 15:10

SC SC
Moderators
(Posts: 3888 | Credits: 393.74)

I'd love to get a refund too, but I'm not going to bet on it.


True. It's tough to get a refund from these people.

Sub: #5 posted on Mon, 04/02/2018 - 15:09

SC SC
Moderators
(Posts: 3888 | Credits: 393.74)

I have a tribal company paid in full letter and can not find a way to contact them I have tried number is blocked and emails won't go through they are still taking money our of my account. Do i need to close my account down and open a new one

Sub: #6 posted on Sat, 03/31/2018 - 16:47

Unregistered


You got one good new after all...still one more to go, but don't lose hope, send a reminder if needed.

Sub: #7 posted on Fri, 03/30/2018 - 18:33

tiarajoseph11 tiarajoseph11

(Posts: 261 | Credits: 38.23)

Quick update: got an official email from Lendgreen stating my account is paid in full. Still no response from inboxloans.

I'd love to get a refund too, but I'm not going to bet on it.

Sub: #8 posted on Thu, 03/29/2018 - 19:44

Craig S Craig S

(Posts: 6 | Credits: 0.72)

You are on the right way. I wish you will get the refund.

Sub: #9 posted on Thu, 03/29/2018 - 09:30

sanderspatricia29 sanderspatricia29

(Posts: 534 | Credits: 56.24)

You wont get a refund. Count your blessings and move on :)

Sub: #10 posted on Wed, 03/28/2018 - 03:52

dougies.scott dougies.scott

(Posts: 1 | Credits: 0.22)

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