- 1 Plain green loans customer reviews
Plain Green Loans Offer An Alternative To Payday Lending
Many people are aware that at a payday loan can be a good way to finance an emergency repair or the need for some fast cash. However, there are some downsides to this kind of borrowing. Plain Green Loans provide an alternative to the payday loan that may make it easier for many borrowers.
There are many similarities to the payday loan and Plain Green Loans. Both can be used for any purpose that you need, and they are not difficult to quality for. When you take out a payday loan you must repay the entire amount plus fees with your next paycheck.
Paying off a loan quickly is the best method if you can afford it. However, you may have expensive car repairs that cost a thousand dollars. If you pay this back in one lump sum, you may not have any money for food and other expenses for the next two weeks. This is not a viable solution to a problem as it simply delays the trouble and might bring on additional financial headaches in the near future.
When you borrow from the lender, you can pay the money back in 14 installments. Your payments are due biweekly or every two weeks. Since most workers are paid in this fashion, it is easy to budget your payments. This way you will not have to run short of money for essential items after you take care of your bills and obligations.
Borrowing from this firm is very easy and simple. First time borrowers may receive up to one thousand dollars. Repeat customers can borrow as much as three thousand dollars. Interest rates are lower than most standard payday loan borrowing. In addition, if you become a regular customer you will receive reduced interest on your financing.
If you receive less interest than a payday loan, this can save you money. You also have the added convenience of installments. You can choose the loan terms that are the most convenient for you. For instance, you may wish to repay the amount in four months time. However, you can choose to take as long as nineteen months, depending on how much money you borrow.
If you have bills that will soon be overdue, it may better to borrow the money. For instance, an overdue electric bill can be like adding one thousand percent interest when you add up all the late fees. You will not pay anywhere near this much with Plain Green Loans.
This kind of borrowing is more expensive than a standard loan. As such, it should be used with caution and only when absolutely necessary. However, it provides a means to pay for things when there appears to be limited viable solutions.
If you are thinking about taking out a payday loan, stop and compare what Plain Green Loans has to offer. You will have the option of extending your repayment, so you will still have money for expenses each paycheck. Read all the terms before you apply and make sure you understand how this kind of financing works.
Plain green loans customer reviews
Our lenders offer unsecured installment loans with an Annual Percentage Rate (APR) of 36% and below.
1. For qualified consumers, the maximum APR, (including the interest rates plus fees and other costs) is 36% and the minimum is 7%. Subject to lender-approval.
2. Example: Loan Amount: $4,300.00, Annual Percentage Rate: 36.00%, Number of Payments: 30, Monthly Payment: $219.38, Total Amount Payable: $6,581.40v
3. Loans include a minimum repayment plan of 12 months and a maximum repayment plan of 30 months.
4. Lender-approval and loan terms will vary based on credit determination and applicable state law. The lender’s approval process may take longer due to additional documents being requested
APR and fees are adjusted by many variables, including your credit rating, FICO score, state of residence, income and more. We work with lenders that adhere to applicable state and federal laws. Each state has its own limitation on APR and additional fees, therefore, you should review them before applying for a loan. The Truth in Lending Act requires full disclosures from our lenders of all loan fees and interest rates. If you are offered a loan, you are under no obligation to take the loan. Make sure you are aware of all the terms and conditions before taking a loan and never take a loan you cannot repay.
Possible Effect On Credit Rating and FICO Score
All borrowers must be aware that missing a payment or being late with payments may potentially negatively impact their credit score. Our lenders will likely run one or more credit checks with a major credit agency in order to determine whether or not to approve your application. If our lenders face an incident of non-payment or late-payment, they may report to those credit agencies in order to warn other lenders, banks and financial institutes.
If for any reason you cannot make a payment on time, you should contact and discuss with your lender immediately on how to resolve it. After entering into a loan repayment schedule, you are protected by the Fair Debt Collection Practices Act (FDCPA), which is overseen and enforced by the Federal Trade Commission and the Consumer Financial Protection Bureau. Our lenders are required to abide by the FDCPA, which includes the following rules (this applies both to lenders and third-party collection agencies working on behalf of the lenders):
2.They may not use abusive language toward you;
3.They are prohibited from using deception to attempt to collect a debt from you;
4.They are not allowed to threaten legal action against you if they either can’t or don’t intend to pursue such legal action.
Renewal, Refinancing and Late-Payment Additional Costs and Fees
Loan renewal policies are largely governed by either state or federal law. In states where automatic rollovers or repayment term extensions are allowed, interest rates and late fees may apply. However, in certain instances, some of our lenders may offer instead a refinance option that allows customers to refinance their existing loan balance into a new loan with a new repayment schedule. Read the lender’s terms in considering renewal or refinancing options before signing the loan agreement.
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The astronomical interest rates Plain Green Loans charges for small amounts of cash will likely add to your financial strain, rather than reduce it.
Though not a traditional payday lender, Plain Green Loans operates like one. It charges its customers interest rates upwards of 300%. First-time borrowers can borrow up to $1,000, and repeat customers can borrow up to $3,000. You don’t get to choose the term length and the longest available term is two years. There’s no hidden or prepayment fees, but that doesn’t mean you can expect a reasonable interest rate.
Plain Green Loans markets itself to those with poor credit who need money quickly. There’s no minimum credit score for approval and you can get your money as soon as the next day. However, the same is true of personal loans, and these often come with much lower interest rates and longer payment terms. The best personal loan companies, like OneMain, don’t have a minimum credit score either. This is a much better option than Plain Green Loans, so if you’re looking for quick cash, start with a personal loan.
For more financially responsible quick cash options, read Payday Loan Alternatives.
Up to $3,000 for return customers
Approved in seconds
No minimum credit score
Plain Green Loans promises “simple and convenient loans” that can get you the money you need by the next day. There’s no hidden fees, and the company reports payments to the credit bureaus, so the loan may even help your credit score over time.
No. The credit bureau reporting and lack of hidden fees may lull you into thinking you’re working with a company that cares more about helping its customers than it does about turning a profit, but the fine print reveals the truth. “This is an expensive form of credit,” the Important Disclosures reads, “Alternative forms of credit, such as a credit card cash advance, personal loan, home equity line of credit, existing savings or borrowing from a friend or relative, may be less expensive and more suitable for your financial needs.”
Plain Green Loans offers loans up to $3,000 with APRs ranging from 150% to 375%. While the company assures you that’s a bargain compared to traditional payday loans, it’s still robbing you blind compared to virtually any other type of credit. The average credit card charges about 15% APR, and some of the best personal loans will offer rates under 10% APR to those with good credit. Even adding in any hidden fees, you’ll probably still come out better than if you went with Plain Green Loans.
Plain Green Loans does have its advantages to those with poor credit. There’s no minimum credit score required, and since it reports your payments to the credit bureaus, if you can keep up, you could see your score rise over time. But there are still better options out there for you. OneMain, for example, doesn’t have a minimum credit score either, and its maximum APR is 36% — less than 10% of what Plain Green Loans will charge you. This is definitely a smarter way to go for most people.
- Astronomical interest rates: Despite what the company would have you believe, Plain Green Loans’ interest rates are about average for a payday lender, and far more expensive than most other forms of credit. If you’re not comfortable paying 300% interest on the money you borrow, look around for other options.
- $3,000 maximum loan amount: First-time customers can only borrow up to $1,000, and repeat customers are limited to $3,000. If you’re looking to borrow a larger amount of money, you’ll have to explore some personal loan companies instead.
- Few requirements for approval: Plain Green Loans only requires its applicants to be 18 or older; have a job, email address, and checking account; and live in a state where it does business. There’s no minimum credit score required.
- Get money by the next day: Plain Green Loans can approve your loan and deposit your funds as soon as the next business day.
- Short loan terms: Plain Green Loans offers terms ranging from six to 24 months, which is considerably shorter than what most personal loan providers offer. And you don’t get any say in how long your repayment term is. This could be problematic, particularly since you’re responsible for paying back a lot of interest on top of the initial amount.
- No hidden fees: Plain Green Loans doesn’t charge you any hidden fees or prepayment penalties, so you don’t have to worry about running into unexpected charges down the line.
- Get approved in seconds: Once you fill out a simple application on the company’s website, you’ll be immediately notified of whether or not your loan has been approved. This approval is conditional, subject to the verification of the information you submitted.
- Choose a payment schedule: Plain Green Loans lets you choose between biweekly and monthly payments, so you can select the one that best fits your budget.
- Payments reported to credit bureaus: If you’re looking to repair your credit, prompt repayment of your Plain Green Loan could help. The company reports your payments to the credit bureaus and if you demonstrate responsibility, it could improve your credit score over time.
Plain Green Loans offers payday loans, which are always more trouble than they’re worth. The high interest rates often turn a short-term money shortage into a longer-term financial crisis, as borrowers struggle to pay back what they owe in the short loan terms offered by the payday loan company.
Say you took out a $2,000 loan from Plain Green Loans. According to the company’s loan calculator, you’d be charged 200% APR. Over the course of the 22-month loan period, that loan is going to cost $7,588.81. That’s an extra $5,588.81 in interest on a $2,000 loan.
There are plenty of ways to get the cash you need at an affordable rate. Borrowing from friends and family is always a good choice if you have the option. Most of the time, they won’t charge you interest at all. Credit cards are another solid choice, though a lot of credit card debt will have a detrimental impact on your credit score.
A personal loan is your best bet. Typically, these offer lower interest rates, and you can borrow up to $30,000 if you need to. They also offer longer loan terms and, unlike Plain Green Loans, you can choose how long you need to pay it back; usually up to five years.
OneMain: OneMain offers personal loans from $1,500 to $10,000. Loan terms will vary. Interest rates vary from 25% APR for those with very good credit, to 36% APR for borrowers with poor credit. There is no minimum credit score to apply, so it’s a great place to apply if you’ve been denied loans from other companies.
Lending Club: Lending Club offers personal loans up to $40,000 with interest rates ranging between 5.32% and 30.99%. These interests rates are fixed, so you don’t have to worry about them going up over time. There are no hidden fees or prepayment fees if you decide to pay off your loan early. Lending Club requires a minimum of a 660 credit score, though, so it may not be an option for some.
Prosper: Prosper is another personal loan lender that offers fixed interest rates and no hidden fees. You can choose from a three- or five-year term and amounts ranging from $2,000 to $35,000. APRs range from 5.99% to 36%, depending on your creditworthiness. You must have a minimum credit score of 640 in order to be approved.
- The Washington Times ran a story about a lawsuit filed by a Vermont resident who borrowed money from Plain Green Loans. The customer alleged that the company “blocked her access to her own bank account, automatically withdrew funds without her consent, did not examine her ability to repay the loan, and charged excessive interest rates, which are against Vermont law.” Plain Green Loans is wholly owned by the Chippewa Cree tribe in Montana, who fought against the lawsuit on the grounds of tribal immunity. This claim was later rejected by the judge.
- WSOC in Charlotte reported on a man who had purchased a loan through Money Mutual, a company that matches borrowers with payday lenders. The man received a loan from Plain Green Loans who allegedly charged him 625% in interest. The company insisted it was “not loan sharking,” but the customer cautioned others against borrowing from Plain Green Loans.
- The Missoulian discussed the Chippewa Cree’s ownership of Plain Green Loans and how many payday lenders are affiliating themselves with tribes in order to take advantage of tribal immunity. Many lawmakers are fighting to restrict these practices, claiming they’re unfair to consumers. A spokesperson for the Consumer Federation of America said that, “It’s a real threat to the ability of state regulators to enforce the loan market to police caps and other consumer protection measures.”
Plain Green Loans claims to be there in your hour of need, but its outrageous interest rates could land you in even more financial trouble. Look into personal loan providers instead, or even credit cards before getting a loan through a payday loan lender like Plain Green. Any one of these payday loan alternatives should be able to offer you far more money at a much lower rate.
- Lies and predatory interest rate
Plain Green - Put a false delinquent acct on my credit report
! The original loan was given for $1,600.00. I unfortunately did not want that much money. I.
I forgot to say that after 3 payments I STILL OWE over $800.00. 1
Plain Green - WORST COMPANY EVER
Plain Green - No Customer Loyalty
Another victim of this company. Sorry for your loss. My God what did we do?!
Another victim with circumstances similar to mine. Can we say, "***" I am! Sorry for your losses! Live and learn; I guess!
- Lies and predatory interest rate
Plain Green - Cashcall or any pdl
Another victim of Plain Green Loan Sharks! WOW! I am reading all of these and wondering what happened to my common sense?
We know sometimes you may have questions and might no be able to find the answers among our Frequently Asked Questions. Our customer support team is here to listen and provide you with exceptional customer service – just let us know how we can help.
- Customer Support: (866) 420-7157
- Hours of Operation:
- 8 a.m. to 10 p.m. ET. Mon-Fri
- 9 a.m to 5 p.m. ET. Sat
- Fax: (866) 420-7159
- Plain Green
- PO Box 42560
- Philadelphia, PA 19101
- 1900 Frost Road, Suite 100
- Bristol, PA 19007
- Plain Green
- Attn: Customer Support
- 93 Mack Road, Suite 600
- PO Box 270
- Box Elder, MT 59521
- Plain Green
- 93 Mack Road, Suite 600
- Box Elder, MT 59521
Did we answer your question? If not, call our Customer Support: (866) 420-7157
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Plain Green, LLC is a tribal lending entity wholly owned by the Chippewa Cree Tribe of the Rocky Boy's Indian Reservation, Montana, a sovereign nation located within the United States of America, and we operate within the Tribe's Reservation. If we receive, process, and approve your application before 6 p.m. ET, we typically fund it on the next business day. If we are unable to verify your application information, we may ask you to provide certain documents. The maximum loan amount for your initial loan is $1,000. Refer to Loan Cost & Terms for additional details. We provide complete disclosures of APR, fees and payment terms in the Loan Agreement.
Reviews are submitted through Trustpilot.com. Reviews are based on each individual’s unique experience and are not representative of everyone’s experience. Individual results will vary.
This is an expensive form of credit. Plain Green loans are designed to help you meet your short-term, emergency borrowing needs. Appropriate emergencies might be a car repair, medical care for you or your family, travel expenses in connection with your job, etc. Our loans are not intended to provide a solution for longer-term credit or other financial needs. Alternative forms of credit, such as a credit card cash advance, personal loan, home equity line of credit, existing savings, or borrowing from a friend or relative, may be less expensive and more suitable for your financial needs.
Refinancing may be available, but is not automatic. Refinancing your loan will extend the term of the loan and result in additional interest charges. We will never charge you any "hidden fees" that are not fully disclosed in the Loan Agreement or the Loan Cost & Terms. Late fees and non-sufficient funds/returned item fees may apply as described in your Loan Agreement. If you don't make a payment on time we will attempt to contact you via one or more authorized methods. If you fail to repay your loan in accordance with its terms, we may place your loan with, or sell your loan to, a third-party collection agency or other company that acquires and/or collects delinquent consumer debt.
We adhere to the principles of the federal Fair Debt Collection Practices Act (FDCPA). Because we may report your payment history to one or more credit bureaus, late or non-payment of your loan may negatively impact your credit rating.
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