Consumer Protection Law
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As insane as this sounds, it is legal. That is because the loan amount is under $5000. And it therefore falls under a new category known as payday loans. As such, they are not bound by the usury laws of your state. Sorry. It is terrible. But you have no legal recourse and I am saving you money now from what you would pay an attorney to hear the same advice. I wish you well.
Thank you for your prompt reply, and you can rest assured I will rate you high and accept the answer for your compensation.If you dont mind a small followup question, am I to assume that because the loan was taken from a Sioux tribe who is not obligated to follow US member state laws (such as Georgia), even though PayDay loans are illegal in the state of GA, because it originated in a "sovereign nation tribe" and was flipped to a US State company, they can maintain the loan legally? It was, in a manner of speaking, "Grandfathered in"?
YES, they are also exempt as rediculous as that is.
Thanks in advance for the rating.
Dylatess, thank you for your advice and time. You have certainly saved me a lot of money retaining counsel for a hopeless cause. I think it's time I start attempting to book an appointment with my governor or congressional leadership.
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