Is Mobiloans com legit?
Mobiloans is a tribal lender and is owned by the Tunica-Biloxi Tribe of Louisiana. It markets itself as an affordable alternative to bank overdraft fees and payday loans. And while there is an important difference between Mobiloans and payday loans, it's not one that you'll see advertised on its website.
What happens if you don't pay Mobiloans?
You also may repay any borrowed amounts at any time without incurring a prepayment penalty. Implications of Late and Non-Payment: If you don't make a payment on time we will attempt to contact you via one or more authorized methods, including phone calls, emails, and text messages to arrange for payment.
What is the interest rate of Mobiloans?
The annual percentage rate (APR) on Mobiloans cash advanced ranges between 72.15% - 442.31% . This APR will vary based on the amount of the line of credit and the maximum number of billing cycles available for payment.
Can Mobile loans sue you?
Short answer is yes, a payday loan company can sue you in court if you default on your debt. In order for them to take you to court, you must be delinquent on your payments and in violation of your loan agreement. Note: payday lenders can only take you to civil court — not a criminal court.