Payday loan companies are all over the United States. It seems that everyone offers a

different type of loan and one of those is Native American based. They give out loans

based upon Tribal Laws, and often ensnare people into paying back massive amounts

of interest. However, they can also be very forgiving to people who have been hit with

hard times due to those very same laws. While this may seem like a good reason to

take out a loan from a company, you never want to borrow money from anyone who

claims to not be bound by the laws of the United States of America.

Unlike normal companies that work with a different set of rules, Native American payday

loans are run on 7 basic tribal laws. You can search the internet and find different sets

of these rules, but most of them have a lot to do with honor. These companies claim to

have formed, and benefit the Native American community and preservation of their way

of life. This means that they will charge interest in the ranges of 700% or more, so they

can help out. This also means that they are immune to laws in states where they have

regulated interest rates to be at, or under a certain APR.

Although, these companies claim to be functioning under Tribal Law and not under

American Law, courts have ruled differently. Several court cases have been seen

before a judge where the Payday loan companies have taken borrowers to court

to receive past due funds. These cases have unfortunately lost, and the company

penalized for charging unrealistic interest rates.

Laws are meant to protect people from those companies for a reason. If you are looking

for a trustworthy payday loan company then stick to companies that stick to the laws.

These companies will not try to charge you massive amounts of interest, or give out

your personal information to 3rd party sources.