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Is green pine lending different from red pine lending?

Discussion in 'Payday loans' started by MovieStar44, Dec 19, 2015.

  1. MovieStar44

    MovieStar44 New Member

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    I've read a couple of good reviews, online, about the Red Pine Lending company, but then I found out there's another company I've never heard about before, called Green Pine Lending.
    Are these two different companies, or are they affiliates? If the 2 lenders are related, what's the difference in applying for a payday loan with one or the other?
     
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  2. 4our

    4our New Member

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    The whole thing with the Pine Lending company is a bit confusing, in the sense that, the founders of Red Pine Lending also created Green Pine lending and a bunch of other tribal loan companies with very, very similar names.

    The good thing about these 2 native lenders is that I haven't found any bad reviews (yet). So, I think you can safely apply for a loan, if you're interested. Read the contract carefully though, before signing anything! This is the no. 1 advice I give to everyone I know!
     
  3. Cindy Spoo

    Cindy Spoo Guest

    My husband and I just applied for a loan with Green Pine lending and they wanted to charge us 728% interest...so for $1000 we would need to pay them back in 20 payments $4129.05...I could not believe it...that is absolutely usuary!!!!
     
    BRITTANY and Perry like this.
  4. Alan Watts

    Alan Watts Guest

    I've completed a loan with these folks. What a lot of people don't understand is that these aren't loans in the traditional sense, nor are the really traditional payday loans; they lie somewhere in between. In a payday loan, you get $xxx.xx dollars this week, and pay them back $xxx.xx + $75 (or some other number) next week. The issue with that is generally, if you don't have $400 free this week, there's no reason to believe you'll have $475.00 free next week, and thus you end up in the cycle of re-advancing endlessly, and pumping them full of 'advancing fees'; it's really common here to see people with 4 or 5 of these, spending half of their income on advancing fees.

    Traditional loans, you have to qualify for with credit or have collateral for, they generally have minimum amounts, and aren't either easy or fast to get completed. The benefit is, the payback schedule is generally quite long, 12-36 months, and the payments are fairly easy to make. If you can, this is the best option for lending needs, and it can even boost your credit if you pay on time.

    This falls in the middle; it's extremely easy to qualify for a loan, unless you have a bankruptcy last week and no bank account or income. The process takes about 20 minutes, and the amounts are generally $300 to whatever their maximum is. The trade-off for the loan type is the repayment cost is quite high, and the repayment term length is generally fairly short. I had a $300 principal, with 11 payments of $102 dollars and one of $190, coming out to a little over $1300.

    As insane as that seems, if you aren't in a position to get a bank loan, and you need money for an emergency, this is an option. It should be almost your last option, short of begging on the street, because of the extremely high cost of repayment, but it's always out there. The people I dealt with were friendly, helpful, and seemed to be concerned that I knew what I was signing up for, which was appreciated. In general, it made it feel like they were trying to help me by helping themselves, rather than simply being predatory, which is the case of most cash advancers.

    I'll say again, do everything else in your power to avoid having to take a loan like this, as you pay it back 4 times over by the time it's done. Humbling yourself in front of friends or family and asking for help is the better solution, but if everything else fails and you have no other choice, these folks will be there, and they will most likely be able to get you money. Just be absolutely certain you can bear the high cost of repayment and understand what's involved before you say yes to anything. This isn't something to be done lightly or quickly, and you have to be sure of what's happening, but I can say they are legitimate, easy to work with, and able to provide you with money in the worst of situations. I'll never do something like this again, but I'm extremely glad they were there when I needed them this time.

    One other thing to note, these organizations are located on tribal land, making them fall out of the traditional court jurisdiction. That means you give up certain legal rights when you work with them, like the right to sue them in your local court. I don't know what the implications of that are, but if you simply pay as you have promised to, I don't think it will be a big issue. But with that in mind, defaulting could be a worse situation than with a normal loan; do some research and let the lendee beware.
     
  5. BRITTANY

    BRITTANY New Member

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    All I know is they should be called red devil lending Red Pine lending is absolutely ridiculous called in to pay off my loan and they don't do same day scheduling so I still was charged interest for the next day even though I paid it off before noon the previous day. My loan was just $550 and my interest was absolutely f****** ridiculous I will never do business with them again I have two other personal loans with Avant and loan me, who are way more flexible then they are.
     

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