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 Posted: Tue Dec 02, 2008 1:42 pm Subject: How soon? |
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I put a deposit only on my bank account today, my pdl's will hit on friday morning. How soon do I send out my revoke letters? Plus I have multiple address for some of my internet pdl's...how do you know which one is correct and if there is no address or fax # how do you contact them? I don't want to spend money on certified mail, if the addresses are incorrect.
My loans are with
CashTrasferCenters.com (Northway Financial)
United Cash Loans
OneClickCash
Stcadvance.com
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jlboggs9167
Joined: 15 Nov 2008
Posts: 9
Debtcc Points: 175
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| Posted: Tue Dec 02, 2008 2:07 pm Subject: |
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Send them right away. CTC needs to get a wage assignment revocation letter also. They will go right to your employer. Make sure your payroll gets a copy of that letter. You can get the addresses by searching this site.
_________________
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www.frogpatch.com
Read here how to escape the Payday Loan trap.
http://hubpages.com/hub/Escaping-the-Payday-Loan-Trap
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frogpatch
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Joined: 09 Apr 2007
Posts: 3767
Debtcc Points: 31152
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| Posted: Tue Dec 02, 2008 4:33 pm Subject: |
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Is this letter have everything I need it to say?
After doing research regarding Internet payday loan laws in the State of Colorado I have found that your Internet payday loans are actually illegal. I have also found the following laws to be true applying to payday loans in the State of Colorado in general:
| Quote: | Citation:
Colo. Rev. Stat. § 5-3.1-101 et seq.
Loan Terms:
Maximum Loan Amount: $500
Loan Term: Max: 40 days
Maximum Finance Rate and Fees: 20%: $0-$300 + 7.5%: $301-$500
Finance Charge for 14-day $100 loan: $20
apr for 14-day $100 loan: 520%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One
Rollovers Permitted: One (renewal)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: One $25 NSF fee; Court Costs; Reasonable Attorney's Fees not to exceed loan amount
Criminal Action: Prohibited (Unless the consumer's account was closed before the agreed upon negotiation date)
I hereby revoke any and all ACH authorizations with your company from debiting any of my personal accounts, per Federal law, Regulation E Section 205.10 Preauthorized transfers. I have closed my account with the TCF Bank to protect my interest in this matter, per instructions from The Colorado Department of Finance. I also revoke any and all wage assignments I may or may not have signed with your company, I no longer authorize you, your company, or your affiliates to attach any part of my wages or contact my employer for your collection purposes. I have notified my employer about this matter so any attempts to do so on your part will be rejected.
I demand that any contact be made through US Postal mail or email only. I will need everything in writing to keep accurate records of all communication as per instruction from my Attorney General's Office.
I prohibit you or your affiliates to contact me via telephone at my place of employment or my home
telephone number. I also prohibit you from calling my references listed on my loan.
Due to the fact that Internet payday loans must be licensed in the state of Colorado to be a legal and binding contract, your company should NOT issue loans to Colorado residents at all. I am requesting that you send me your license number which enables you to offer loans to Colorado residents.
The legal amount that could have been charged to my loan is the principal amount, even IF your Internet pay day loan were legal anywhere in the U.S.. I am willing to pay the principle amount of the loan only, however, this is only if you provide me with a physical address where I can send payments.
I must also inform you that I will be filing complaints with the Better Business Bureau, the Federal Trade Commission, and the Colorado Attorney General's Office.
I expect a response from your company no later than 5 days from the above date regarding this matter. This response may only come via US Postal mail or email. No telephone contact is permitted.
Sincerely,
CC:
Better Business Bureau
Colorado Attorney General
Federal Trade Commission |
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jlboggs9167
Joined: 15 Nov 2008
Posts: 9
Debtcc Points: 175
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| Posted: Tue Dec 02, 2008 4:35 pm Subject: |
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What do I do about CTC, sending them a letter is it better to send it by email and regular mail, because the address I have, I tried to send it certified but the post office said I could not send it because it is international.
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jlboggs9167
Joined: 15 Nov 2008
Posts: 9
Debtcc Points: 175
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| Posted: Tue Dec 02, 2008 5:27 pm Subject: |
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I would either fax it to them or email it to them. This way you can still get it to them.
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jeoestreich
Joined: 23 Apr 2008
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Shazzers
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| Posted: Tue Dec 02, 2008 6:25 pm Subject: |
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Thank you!
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Guest
Debtcc Points: 100
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| Posted: Wed Dec 03, 2008 9:59 am Subject: CashTransferCenters |
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They are right about CTC and the wage assignment. They contacted my personnel department almost immediately. I had no choice but to fess up to my payroll person. She was sympathetic and just put my revocation form in my file.
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dana6868
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Debtcc Points: 100
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| Posted: Wed Dec 03, 2008 11:01 am Subject: |
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i emailed mine and it worked but make sure 100% your account is secured first because I have heard of them cleaning up accounts before the due date. good luck and keep us posted! 
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bea2ls
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