[COLOR=black]I sent this email to St Aramands Group, i did not reques the loan nor sign paperwrok agree to the terms the money was deposited without my knowledge while I was out of town. So since I did not return the money i=I agree that I owe it they of course have been trying to get the money from my account by 90.00 debits 2 tims a month since july the loan is up to 510.00 with the interest charges. [/COLOR]
It has come to my attention that payday lenders must be licensed by the state of Alabama in order to offer loans to its residents. Since your company has no license in my state, the loan contract I have with you is not valid. I did not sign paperwork requesting this loan nor did I sign paperwork agreeing to the payment terms. Although I am not legally required to do so, I am willing to repay the principal balance of this loan. To date, I received a deposit of $300 on 06/26/2012, you will need to email me an address to receive payments since they will come by mail and payment will be made with money order.
[COLOR=black]I am issuing a do not contact order to me , my friends or family, you may communicate with me by email or mail only.[/COLOR]
[COLOR=black]I am also revoking authorization for ACH withdrawals and any wage assignment I may have signed. I have given a copy of these revocations to both my bank and my employer. Any future attempts to collect funds in this manner will be blocked.[/COLOR]
[COLOR=black]This was there reply, I have tried to close my account without success since the bank will not help me revoke the ACH they say they will not get in the middle, i stopped by deposits from going there so there is no money and the account now is in the negative a very large amount that i can not afford to give them so I can close the account. [/COLOR]
[COLOR=black]So my question is are they threating me if i close or try to stop payments on the withdrawals, unless i set up a settlement repayment? What should I do?[/COLOR]
[COLOR=#215868]We respect a consumer who researches the services to which he/she uses. With that being said when you applied for and agreed to the terms of the loan, it would have behooved you to read the complete contract you agreed to with St. Armands. You are a citizen of Alabama, however the contract was not made in Alabama. The contract was completed via the world wide web, the governing law (clearly outlined in your contract) which you agreed to by your legal e-signature are the laws of the jurisdiction in which the lender is located. [/COLOR]
[COLOR=#215868]We would be willing to settle with you for the principle amount remaining on your account. We could initiate the debit to your account of $300 on your next due date of 8/27/2012. If making one payment to payoff the principle isnâ€™t possible for you, then another payoff arrangement may be available. Please call to let us know how you would like to proceed and ask for me directly. If I am not available, then please request a supervisor. You can also have the debits stopped on your account by placing a stop payment on our debit. This will result in your being sold to outside collections. [/COLOR]
By signing up for counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the pay off amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.