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PDL in Illinois Legal or Not?

Date: Wed, 08/29/2018 - 17:36

Submitted by Don Jones
on Wed, 08/29/2018 - 17:36

Posts: Credits: [Donate]

Total Replies: 3

PDL in Illinois Legal or Not?


Hi,

I have installment loans with the following companies (all owned by Indian Tribes) and I checked my state's website for licenses and they didn't have any and I wanted to make sure I am correct before I start following the steps to stop the ACHs and emailing them.

Green Trust Cash, LLC
Inbox Loans
North Cash

Below is the website I used to search for licenses. Please advise .

PS: Loan companies owned by Tribes still need state licences correct?

https://www.obresecureclear.state.il.us/CLEAROnlineWeb/Lookup/LicenseLookup.aspx

Thanks,
Don


Hey Don,
You are absolutely right. You should immediately revoke ACH and stop any kind of communication with them. They can't take any legal steps against you.


lrhall41

Submitted by Barbara Delinsky on Thu, 08/30/2018 - 23:01

( Posts: 433 | Credits: )


They are not legal lenders. They have no right to do the business in your state. Pay the principal amount and revoke the ACH authorization. They can't force you for the interest rate.


lrhall41

Submitted by Sanders Patricia on Thu, 08/30/2018 - 04:46

( Posts: 1241 | Credits: )


Hey! Your information is absolutely correct. Yes. They need state licenses to operate in your state. So go ahead and the stop the ACH. You will get a few emails from them. But you can ignore them happily. Don't worry!!!!


lrhall41

Submitted by Nick Jonas on Thu, 08/30/2018 - 04:29

( Posts: 427 | Credits: )