My question involves US LAWS
In mid 2007 I opened up a line of credit with this website called Equinox Instant Credit http://www.equinox.ibingo.com/.. This website is directly set up to loan you money and then the money is transfered to an online bingo website www.ibingo.com. Basically, when you make a deposit, the money to tacked onto this bill you owe to this website and they email you a bill and you are told to mail a check to canada to make a payment. This website is based in Canada, but they also have an office in the US. http://www.equinoxinstantcredit.com/?contact
First of all, is this operation legal?, as it it still operating just the same today as it was in 2006. I didn't think it was legal for a company that has an office in the US to fund online gambling.
If it is illegal - what do I send them to basically tell them to piss off. Also, how can I report them if they give me problems.
I have been paying them minimum amounts for over a year and a half now and I owe a little over $900.00. With the interest at 19.99%, I have paid them over $480.00 in total interest so far. Do I really have to pay them any money anymore when I have email statements and printouts from their website that show that the money was transferred to a Bingo website? I know that it is illegal to collect on gambling debt in the US. When was this made illegal?
They say that they will report me to credit bureaus if I do not pay. Can they actually do that since they are based in Canada and collecting on gambling debt?
Normally I would not try to get out of something that I owe, but I have given them alot in interest and cannot afford to pay this debt anymore. I need the money to pay legitimate debts. The orignal website was rigged to begin with. Besides the fact that I am feeling that it may all be illegal.
Here is a link to their appplication with terms and promise to repay:
http://www.equinox.ibingo.com/?equinox.request
Basically, am I legally bound to pay these people?
I should also mention that in order to even get a loan, or log into your account, you need an ID from the bingo website. So basically, the loan website is just an extension of this bingo website.

