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Ely, Counselor at Law
Category: Consumer Protection Law
Satisfied Customers: 102601
Experience:  Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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I have a tribal loan very gh rates i live in florida. I

Customer Question

i have a tribal loan very high rates i live in florida . I cannot pay twice a month,like they require they will not work with me.
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Ely replied 1 year ago.

Hello and welcome to JustAnswer. Please note:This is general information and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am sorry to hear about this. If you look at your contract closely, you will see that it includes the following (or close to it):

"All borrowers must consent to be bound to the jurisdiction of the _____ Tribal Court, and further agree that no other state or federal law or regulation shall apply to this Loan Agreement, its enforcement or interpretation."

(Or, something like this.)

This means that the jurisdiction for this contract lies within the Tribal Court. Their law applies, which may and does differ from other US jurisdictions. Wherein other jurisdictions have usury laws that find that interest rate illicit, the Tribal Court does not. And by signing the contract, you have agreed to bind yourself to that jurisdiction - a contractual clause which is valid.

Okay, we know that they have this crazy interest rate because they are operating under Tribal laws and your contract binds you to Tribal jurisdiction.

So do I have any hope?


If this was challenged in a Florida Court, you could potentially have the interest adjusted by the Court if/when the Court found the interest to be substantively unconscionable, and thus, void.
The Court in Florida would then substitute its own lawful interest under Florida law. But this is not in FL Court.

Many states including California, Maryland, South Dakota and West Virginia have had their Attorney General offices sue tribal lenders and/or request a stay in Court, that would have the business be halted in the state due to the unreasonable interest rate. You may file a complaint with your state's Attorney General t the following url...

...and let the the lender know of this and hope that the AG acts fast to help you. Good luck.

I hope this helps and clarifies. Please use the SEND or REPLY button to keep chatting, or please RATE when finished. You may always ask follow ups at no charge after rating. Kindly rate my answer as one of TOP THREE FACES/STARS and then SUBMIT, as this is how I get credit for my time with you. Rating my answer the bottom two faces/stars or failing to submit the rating does not give me credit and reflects poorly on me, even if my answer is correct. I work very hard to formulate an informative and honest answer for you; please reciprocate my good faith with a positive rating.

Expert:  Ely replied 1 year ago.

Hello again. This is a courtesy check in to see if you needed anything else in regards ***** ***** question. I am simply touching base. Let me know. Thanks!