Listen to their recording, they work to make their customers happy, yeah right. Please find an alternative to taking out a car title loan. City Loan charged me 9400. 00 for a loan of 3900. I paid 5700. 00 in interest and when I called for the payoff, I still owed 3700. 00, thus, 200. 00 went to the principle in a year's worth of payments. I argued that "I cashpoint payday loans already paid so much, please consider the interest already paid and allow a lower pay off.
The center told Taylor that the types of loans he had been given were illegal in Virginia, where state law says Internet payday lenders cant charge more than 12 percent annual interest without a license. A lawyer for Silver Cloud Financial, which gave Taylor the first loan, said that the transaction did not break any laws. The lawyer, Robert Cashpoint payday loans, told HuffPost that Taylors loan originated on tribal lands and not in Virginia, and therefore was not subject to Virginia state law.
In a statement to HuffPost, Silver Cloud said it was a legal, licensed and regulated entity that follows all federal laws. The lender operates under sovereign tribal law, it said, adding that Native American sovereignty predates the founding of the United States, is enshrined in the United States Constitution, and is further codified through federal statutes and hundreds of years of judicial precedent.
Some consumer attorneys have argued that even lenders based on tribal lands cannot flout state law. The legality of the issue still appears unsettled, with legal battles currently cashpoint payday loans waged over this very question in several states.
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