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Sep 28, 2017 - 34 minute read

Icici bank personal loan settlement status

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Icici bank personal loan settlement status

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Icici bank personal loan settlement status

According to one tribal leader with direct knowledge of the deal, Think Finance also made it clear to the Chippewa Cree that if the tribe didn't accept Think Finance's terms, the company would be perfectly happy to find another tribe that would. Within two weeks of receiving Think Finances letter, the Chippewa Cree, who had tried for a year to run their own lending business, agreed to the arrangement.

The tribe partnered with Think Finance and renamed its lending company Plain Green. The tribe would own 51 percent of the company, and Think Finance would own 49 percent. The new venture icici bank personal loan settlement status offer installment loans, a term the industry prefers to use instead of payday loans.

Like traditional payday loans, installment loans are small loans with high interest rates that often trap borrowers in a morass of debt.

Unlike traditional payday loans, they are paid back over time periods longer than a single pay cycle. Plain Green says its minimum repayment cycle is four months. Ten months after Plain Green started making loans, Think Finance lauded the venture in a blog post as a big win for both consumers and the Chippewa Cree. Dozens of tribal members are employed by Plain Green and cash advance centers of ky louisville ky tribal member has already received a payment based on the success of the product.

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