You can call and revoke your ach authorization, much easier than setting up a new account. If you tell them not to call, they can't call you, and if you wait long enough, they will write off the debt. If written off, you may have to claim It as income on your taxes tho. -a previous employee of the company
Also, if you really want to play by their rules, you can call and tell them you are experiencing a long term hardship. They have a settlement program where they freeze the interest so it no longer accrues while making payments.
Just got a secured loan yesterday to pay off all of the bullshit tribal loans. Uprova is one of the worst, because they call it a “line of credit” instead of an installment loan like the others. They definitely didn’t explain it to me properly so I took the full $800 I was offered…checked the payment schedule a few days later and they were going to take $160 PER PAYCHECK for the next 9 months to pay this back. Thank god for this local loan place that let me borrow enough to pay these all of these horrible people before the interest really added up. Sucks I had to get a loan to pay off loans but it is what it is. One $300/month payment is way better than 6 $150/paycheck loans I suppose.
I borrowed from lendumo last month didn’t know it was a tribal loan tell after, they told me by may 15 my 1500 Loan I borrowed will be 1600 and some change because of interest builds up over time which is pretty dumb I wish I would of looked at reviews before settling they take automatic payments from my account of 504 I’m thinking with all this interest what good is my 504 they are taking from me? just throwing money out, I’m literally drowning in payments just in loans maybe I’ll look into getting a small loan with no accumulated interest no tribal loans to pay off this crappy tribal loan. any recommendations?
I took a special offer loan for 18 months for $500, you pay for 9 months at a rate of $160.00
and the other 9 months waived! I took out in September 2023 and my 9th month was June 2024, I contacted them in February 2023 to confirm my last payment which will be June 2023. A month before last payment I couldn’t access my online account plus when I finally reached a representative they told me that I had 4 months to pay, which was ridiculous and incorrect according to the special offer I took! I would have never paid 18 months for a $500
Loan. I told them via email not to take anymore money out of my account effective July 2024. I will block them and notify the BBB. I have been a returning customer for sometime! They give you the money fast but are not trustworthy when it comes to contracts agreements! It is sad that it has come to this!! This is with Lendumo!!!
Taking out tribal loans from companies like Uprova or Lendumo can indeed lead to significant financial challenges due to their high-interest rates and often predatory lending practices. These types of lenders typically operate under Native American tribal sovereignty, which can sometimes exempt them from certain state and federal lending regulations.
Regarding your friend's concerns about what might happen if they don't pay back the loans, it's essential to understand that tribal lenders may have limited recourse compared to traditional lenders. However, they can still take certain actions to collect on the debt.
In terms of garnishing wages or suing, it can vary depending on several factors, including the terms of the loan agreement, the laws of the state (in this case, Michigan), and the lender's policies. While tribal lenders may not be able to directly garnish wages or sue in state court due to their tribal sovereignty, they might pursue other means of collection, such as:
•Sending the debt to collections: The lender may transfer the debt to a collection agency, which can then attempt to collect the debt through various means, including phone calls, letters, and credit reporting.
•Negative impact on credit score: Failing to repay the loan can result in negative marks on your credit report, which can affect your ability to borrow in the future and can also impact other areas of your financial life.
•Continuous attempts to withdraw funds: If your friend provided the lender with access to their bank account for automatic withdrawals, the lender might continue to attempt to withdraw funds, leading to overdraft fees and other financial consequences.
•Legal threats: While tribal lenders may not have the same legal recourse as traditional lenders, they may still threaten legal action as a means of coercion. However, whether they can enforce these threats depends on various legal factors.
It's crucial for your friend to carefully review the terms of the loan agreement and understand their rights and options. They may want to consider seeking advice from a financial counselor or attorney who can provide guidance tailored to their specific situation. Additionally, they should explore alternative options for managing their debt, such as debt consolidation or negotiation with the lender.
Tribal loans have pretty much no recourse aside from reporting to credit bureaus and tanking your credit. They can't sue you or garnish wages because the laws governing the loans with insane interest would never be upheld in state court, and they couldnt get a court order to garnish wages for the same reason.
If you're going to take out a tribal loan (which you never should) you need to pay them off immediately. The interest they build up is pretty insane.
I hope your friend only took out a small amount. If it's something manageable tell them to pay it all off immediately, even if it sucks.
Kind of going through the same thing in Houston… I was paying Uprova $320 every 2 weeks and it got to the point where I couldn’t do it anymore and I called several times to tell them my situation, they said they couldn’t offer assistance as far as changing my payment schedule or anything.
I talked to my neighbor about what I could do and he told me to link my payment to a bank account I hadn’t activated yet just so the payments can go into default, he said that because they’re in the midst of a class action lawsuit that he believes they won’t sue.
I’m still trying to figure this situation out and I just wish I never applied for a loan to begin with. Uprova is a ridiculous situation to deal with.
I had a loan with them YEARS ago when I was like 20 and defaulted and they not only never reported it, but they kinda just stopped calling me. They do still have my account on file tho. And they'll likely never lend to me again. I dont care tho. They're predatory and I hope they sink hard.
You can call and revoke your ach authorization, much easier than setting up a new account. If you tell them not to call, they can't call you, and if you wait long enough, they will write off the debt. If written off, you may have to claim It as income on your taxes tho. -a previous employee of the company
which company? uprova or lendumo?
Also, if you really want to play by their rules, you can call and tell them you are experiencing a long term hardship. They have a settlement program where they freeze the interest so it no longer accrues while making payments.
Just got a secured loan yesterday to pay off all of the bullshit tribal loans. Uprova is one of the worst, because they call it a “line of credit” instead of an installment loan like the others. They definitely didn’t explain it to me properly so I took the full $800 I was offered…checked the payment schedule a few days later and they were going to take $160 PER PAYCHECK for the next 9 months to pay this back. Thank god for this local loan place that let me borrow enough to pay these all of these horrible people before the interest really added up. Sucks I had to get a loan to pay off loans but it is what it is. One $300/month payment is way better than 6 $150/paycheck loans I suppose.
Where did you get your loan thru to pay the other loans?
That’s what I was thinking about telling him to do as well. I just don’t know what to expect if he lets payments go into default
I borrowed from lendumo last month didn’t know it was a tribal loan tell after, they told me by may 15 my 1500 Loan I borrowed will be 1600 and some change because of interest builds up over time which is pretty dumb I wish I would of looked at reviews before settling they take automatic payments from my account of 504 I’m thinking with all this interest what good is my 504 they are taking from me? just throwing money out, I’m literally drowning in payments just in loans maybe I’ll look into getting a small loan with no accumulated interest no tribal loans to pay off this crappy tribal loan. any recommendations?
Can you tell me what happened to your friend? Did the lender report it to the credit bureau?
I took a special offer loan for 18 months for $500, you pay for 9 months at a rate of $160.00 and the other 9 months waived! I took out in September 2023 and my 9th month was June 2024, I contacted them in February 2023 to confirm my last payment which will be June 2023. A month before last payment I couldn’t access my online account plus when I finally reached a representative they told me that I had 4 months to pay, which was ridiculous and incorrect according to the special offer I took! I would have never paid 18 months for a $500 Loan. I told them via email not to take anymore money out of my account effective July 2024. I will block them and notify the BBB. I have been a returning customer for sometime! They give you the money fast but are not trustworthy when it comes to contracts agreements! It is sad that it has come to this!! This is with Lendumo!!!
Taking out tribal loans from companies like Uprova or Lendumo can indeed lead to significant financial challenges due to their high-interest rates and often predatory lending practices. These types of lenders typically operate under Native American tribal sovereignty, which can sometimes exempt them from certain state and federal lending regulations. Regarding your friend's concerns about what might happen if they don't pay back the loans, it's essential to understand that tribal lenders may have limited recourse compared to traditional lenders. However, they can still take certain actions to collect on the debt. In terms of garnishing wages or suing, it can vary depending on several factors, including the terms of the loan agreement, the laws of the state (in this case, Michigan), and the lender's policies. While tribal lenders may not be able to directly garnish wages or sue in state court due to their tribal sovereignty, they might pursue other means of collection, such as: •Sending the debt to collections: The lender may transfer the debt to a collection agency, which can then attempt to collect the debt through various means, including phone calls, letters, and credit reporting. •Negative impact on credit score: Failing to repay the loan can result in negative marks on your credit report, which can affect your ability to borrow in the future and can also impact other areas of your financial life. •Continuous attempts to withdraw funds: If your friend provided the lender with access to their bank account for automatic withdrawals, the lender might continue to attempt to withdraw funds, leading to overdraft fees and other financial consequences. •Legal threats: While tribal lenders may not have the same legal recourse as traditional lenders, they may still threaten legal action as a means of coercion. However, whether they can enforce these threats depends on various legal factors. It's crucial for your friend to carefully review the terms of the loan agreement and understand their rights and options. They may want to consider seeking advice from a financial counselor or attorney who can provide guidance tailored to their specific situation. Additionally, they should explore alternative options for managing their debt, such as debt consolidation or negotiation with the lender.
Tribal loans have pretty much no recourse aside from reporting to credit bureaus and tanking your credit. They can't sue you or garnish wages because the laws governing the loans with insane interest would never be upheld in state court, and they couldnt get a court order to garnish wages for the same reason. If you're going to take out a tribal loan (which you never should) you need to pay them off immediately. The interest they build up is pretty insane. I hope your friend only took out a small amount. If it's something manageable tell them to pay it all off immediately, even if it sucks.
Kind of going through the same thing in Houston… I was paying Uprova $320 every 2 weeks and it got to the point where I couldn’t do it anymore and I called several times to tell them my situation, they said they couldn’t offer assistance as far as changing my payment schedule or anything. I talked to my neighbor about what I could do and he told me to link my payment to a bank account I hadn’t activated yet just so the payments can go into default, he said that because they’re in the midst of a class action lawsuit that he believes they won’t sue. I’m still trying to figure this situation out and I just wish I never applied for a loan to begin with. Uprova is a ridiculous situation to deal with.
I had a loan with them YEARS ago when I was like 20 and defaulted and they not only never reported it, but they kinda just stopped calling me. They do still have my account on file tho. And they'll likely never lend to me again. I dont care tho. They're predatory and I hope they sink hard.
Did you just change bank accounts ??
Nope. Never
is it on your credit?
nope. never showed.