Who is plain green

If this loan is deemed unlawful in Michigan, experts say, consumers could challenge it and tell the credit reporting agency to remove it.

Swiger, 27, needed money so she applied for the loan. The loan's maturity date was April Looking back, she said, she believes that online lenders should need to take into account someone's ability to repay that kind of a loan based on how much money you make and what other bills you pay on top of that. Plain Green is not a licensed lender in the state of Michigan, according to the Michigan Department of Insurance and Financial Services. But it is not required to be licensed as it is a tribally owned corporation.

This number represents loan volume from Consumer Finance licensees; it does not include loans made by banks or credit unions. The numbers would not include lenders affiliated with American Indian tribes. Plain Green says online that it has served more than one million customers since It posts testimonials on YouTube for its biweekly and monthly installment loans.

It was real easy. If you go online, you can calculate your loan cost at the Plain Green site. The cost is outrageous but if you're in an emergency, you can talk yourself into thinking that maybe it will all work out.

Nearly all of its 21 reviews are negative, with borrowers citing poor customer service and outrageously high interest rates that many believed were against the law in their state.

Others were upset that the company did a hard pull of their credit when they were just inquiring about potential interest rates.

Any application to Plain Green — rejected or approved — counts as a credit inquiry on your credit report. Too many inquiries can affect your ability to get approved for funding in the future, so weigh your options carefully before applying. Applying for a Plain Green short-term loan only takes a few minutes. Here are the steps to follow:. You can either accept the loan at this point or reject it. Upon acceptance, the funds will be deposited into your account in as little as one business day.

If you choose to have a check mailed, it can take 7 to 10 days. Automatic payments are available, and you can set them up over the phone or online by logging in to your account. Because the interest rate is so high, it will likely cut the cost of your loan significantly if you can pay it off sooner. Take advantage of no prepayment penalties to save your hard-earned cash.

Short-term loans should always be considered as a last resort. Exhausting all other options will likely save you in the long run and could prevent you from getting caught in a debt cycle. Plain Green provides some good features — like no prepayment fees and potential flexibility to change your payment date — but the high APR can cost you thousands of dollars. The Chippewa Cree Tribe operates the business, and loans from them are governed under the laws of their tribe rather than your state.

You can call Plain Green at or fill out its online form with any questions. Image source: plaingreenloans. Click here to cancel reply. Optional, only if you want us to follow up with you.

Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve. While we are independent, the offers that appear on this site are from companies from which finder. DFI warns Washington State consumers that before doing business with a financial service provider the consumer should: Make sure that the entity is licensed.

Even if the activity involves a loan you obtained over the internet, a license is generally still required. If a collection agency is attempting to collect a debt from you, check that the company is licensed by the State of Washington Department of Licensing. Collection activities by payday lenders in the state of Washington are subject to RCW Payday lenders must also provide borrowers with an installment plan if the borrower is not able to pay the small loan back when it is due.

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