Payday loan, title loan, or personal loan -- Charged fees or interest you didn't expect -- Complaint #4962499
Complaint Overview
Complaint ID: 4962499
Company: Tribal Lending Enterprise, INC.
Product: Payday loan, title loan, or personal loan
Sub-Product: Payday loan
Issue: Charged fees or interest you didn't expect
State: New Jersey
ZIP Code: 070XX
Date Received: 2021-11-30T12:00:00-05:00
Date Sent to Company: 2021-12-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: No
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I received a loan of {$1200.00} and signed the documents while XXXX and not reading the details. After receiving the loan I noticed the payback amounts were astronomical. I then looked at what the payday loan laws of my state were and these loan payback amounts are way above the state of NJ laws on how much a lender can charge in interest. This company claims to be exempt from state laws due to their tribal affiliation, however they are using the tribal law affiliations to thwart state laws and to act as a predatory lender. I do not mind paying back the principal loan but the interest they are asking for of over 500 % is absurd & should be illegal. I also question their true tribal affiliation. This is criminal in my opinion especially since I was XXXX when signing the document.
Frequently Asked Questions
What is Complaint #4962499 about?
Complaint #4962499 was filed against Tribal Lending Enterprise, INC. regarding Payday loan, title loan, or personal loan specifically about Charged fees or interest you didn't expect. It was received by the CFPB on 2021-11-30T12:00:00-05:00.
How did Tribal Lending Enterprise, INC. respond to this complaint?
The company responded with: "Closed with explanation". The response was not timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Payday loan, title loan, or personal loan) and describe your issue in detail.
Can I see other complaints against Tribal Lending Enterprise, INC.?
Yes, visit the Tribal Lending Enterprise, INC. company profile at readthecomplaint.com/company/tribal-lending-enterprise-inc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.