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 Posted: Tue Nov 14, 2006 9:56 am Subject: Read this!!!!!!!!!! |
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Just got my first response back and I wanted everyone to read this! I love this site for its help, your rock!
| Quote: | Dear Mr. King:
We have found that our best course of action when we get a complaint from a customer is to return all fees paid by the customer.
We will be mailing you a check shortly in the amount of $2658.00 which is the total amount of fees we collected from you for your loans less balance of the principal owed us.
We are sorry that you were not happy with our service.
Star Light Financial LLC |
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msk7777
Joined: 07 Nov 2006
Posts: 57
Debtcc Points: 1866
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| Posted: Tue Nov 14, 2006 10:01 am Subject: |
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Wow!!!! That is so GREAT!!!! Congratulations. I'm sure you can think of one or two things better than ILLEGAL FEES to spend that on! Good for you!!
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dbaker6
Moderator
Joined: 25 Aug 2006
Posts: 1609
Debtcc Points: 13841
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| Posted: Tue Nov 14, 2006 10:04 am Subject: |
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Congrats! Doesn't feel great?
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NotsoLucky
Joined: 02 Nov 2005
Posts: 3154
Debtcc Points: 45648
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| Posted: Tue Nov 14, 2006 10:05 am Subject: |
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CONGRATS!!! was this a payday loan company?? i love this website i was lost until i found it !!! Wooohooo!
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drowingindebt
Joined: 10 Nov 2006
Posts: 208
Debtcc Points: 1994
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| Posted: Tue Nov 14, 2006 10:07 am Subject: |
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what letter did uou send them?
_________________
IN DEBT, BUT STILL BLESSED...
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TASHA_MOSELEY
Joined: 16 Aug 2006
Posts: 416
Debtcc Points: 10833
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| Posted: Tue Nov 14, 2006 10:09 am Subject: |
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OMG.. $2658.00... That's a huuuugeeeee amount. It's like snatching meat from tiger's mouth. I am so happy you did this.
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IncredibleHelp
Joined: 30 Jun 2006
Posts: 499
Debtcc Points: 7670
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| Posted: Tue Nov 14, 2006 10:18 am Subject: |
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was this a payday loan??
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drowingindebt
Joined: 10 Nov 2006
Posts: 208
Debtcc Points: 1994
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| Posted: Tue Nov 14, 2006 12:24 pm Subject: |
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yes everyone, it was a payday loan, this one I started about a year ago and they didn't have the option to pay down on it is I always paid the interest. I didn't expect them to respond this way, now Im just waiting for the rest of them to respond! I was feeling so down about my payday loans, now Im sor relieved, even if I can't get the rest to comply this allows me to pay off the rest and still have money left over. If you are new here, I was scared too, I have 10 payday loans out and have overpaid on most of them. None of mine are licensed in my state. I took the advice from people on this site, read a lot of posts that related to what I was going threw. I started realizing I wasn't even close to being alone in this delima, and that there are people here that can help. Stay strong and you can get thru this, learn your rights and when the calls start coming and they start make threats, make them back and stand tough, they will say anything to get what they want but its all a ploy. Everyone here really is on your side!
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Guest
Debtcc Points: 100
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| Posted: Tue Nov 14, 2006 12:27 pm Subject: |
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For those that asked here is the letter I sent them:
Michael S. King
SS#: ***-**-****
Personal info removed for your safety - Mike
Star Light Financial LLC
PH: 319-385-7488
Email: info(at)starlightfs.com
To Whom It May Concern:
Effective immediately, I hereby revoke authorization to Star Light Financial LLC or any representative, parent company, affiliate, or subsidiary of Star Light Financial LLC, to withdraw any funds electronically from my checking account ending in , 7229 in the name of Michael S. King. The account has been frozen to all further activity from this company, so any attempts to debit this account will be returned. I also revoke any wage assignments that may be involved from your company or any of your affiliates. I request that my balance be marked paid in full for the loan in the amount of $400 I took out with your company on which you began debiting my account. This is a grand total of $2,992 debited from my account for a $400 loan. I have become aware that since such time as I have been affiliated with your company, I have paid disproportionate amounts of interest over the course of such affiliation. Upon research of Texas State law, I have discovered that Star Light Financial LLC is not legally authorized to lend to residents in Texas. Therefore, Star Light Financial LLC is in violation of Texas’ usury, interest rate cap, and licensing requirements, as well as wrongful credit practices and related offenses.
| Quote: | Citation:
7 Tex. Admin. Code § 1.605; Tex. Fin. Code Ann. §§ 342.251 et seq. and 342.601 et seq.
Loan Terms:
Maximum Loan Amount:
Loan Term: 7-31 days
Maximum Finance Rate and Fees: $10 per loan + 48% annual interest
Finance Charge for 14-day $100 loan: $12
apr for 14-day $100 loan: 309%
Debt Limits:
Maximum Number of Outstanding Loans at One Time: Not Specified ($500 aggregate loans outstanding to all licensees)
Rollovers Permitted: None (if renewal charge is less than maximum interest rate permitted; otherwise convert to declining balance installment note)
Cooling-off Period:
Repayment Plan:
Collection Limits:
Collection Fees: Not Specified
Criminal Action: Not Specified
Where to Complain, Get Information:
Regulator: Texas Office of Consumer Credit Commissioner
Address: 2601 N. Lamar Blvd. Austin, TX 78705
Phone: (512) 936-7600
Fax: (512) 936-7610
Regulatory Contact: ,
http://www.occc.state.tx.us/
Debt Limits:
Maximum Number of Outstanding Loans at One Time: One per location
Rollovers Permitted: None (cannot renew or consolidate)
Cooling-off Period: 24 hrs
Repayment Plan: |
Now once again, in reference to my current loan with your company, I am formally requesting substantiation of all interest and principal payments made by me to your company on the loan received . The amount of interest you have charged me is well in excess of Texas State mandated interest rate cap for short-term loans. As stated above a lender cannot exceed an amount of $12 of the loan whichever comes first. Therefore, in view of the information detailed above, I am willing to settle this matter with you and seek such refund as I am entitled to by law. I expect Star Light Financial LLC, to immediately mark my account “Paid in full”. Further, at no time will Star Light Financial LLC, nor its representative, parent company, subsidiary, or affiliate, place any derogatory mark on my credit report with any credit bureau, nor with any check writing database such as Teletrack or equivalent. In the event you decide to effect one, I hereby revoke any wage assignment you may attempt to implement on this account. To reiterate, please accept this as formal revocation of any authorization for you to make any debits from this date forward. The checking account of record, ending in 7229, in the name of Michael S. King, will no longer honor any form of debit from you. I will except a letter stating that my account is "Paid in full" within 10 business days from today via United States Postal Services at my home address (1500 Preston Rd #1407, Plano, TX 75093) or E-mail (msk7777@hotmail.com). If I do not hear from you by November 25, 2006, I will assume that you are refusing. I will then contact the Texas Attorney General again to advise them you are refusing. Then I will also proceed to contact the State Attorney General where you are physically located to file a formal complaint with their office also. Finally, do not attempt to call me at work or home (my company has already been notified of this situation and has stated in the case that Star Light Financial LLC or it’s representatives, parent company, subsidiary, or affiliate, including collection agencies will be recorded and handed over to authorities for investigation), nor contact my friends, family, or employer, all contact to me shall be in written form either through email or via the United States Postal Service. Please note a copy of this letter will be forwarded to Bank of America, and Texas Office of Regulation (Division of Securities and Finance).
Thank you,
Michael S. King
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Debtcc Points: 100
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| Posted: Tue Nov 14, 2006 12:34 pm Subject: |
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Oh no! If someone can help me I forgot to edit out my personal info when I posted this, please someone advise me on how to fix this!
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msk7777
Joined: 07 Nov 2006
Posts: 57
Debtcc Points: 1866
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| Posted: Tue Nov 14, 2006 12:34 pm Subject: |
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Great job, Michael!
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dbaker6
Moderator
Joined: 25 Aug 2006
Posts: 1609
Debtcc Points: 13841
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| Posted: Tue Nov 14, 2006 12:35 pm Subject: |
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wohooo!!! you're tough!!! thank you thank you for such an inspiration...i was feelig bad because i have 6 payday loans out and yes i've been overcharged...and i got a calll this morning and i'm fighting back.
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drowingindebt
Joined: 10 Nov 2006
Posts: 208
Debtcc Points: 1994
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| Posted: Tue Nov 14, 2006 1:06 pm Subject: |
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Yes I'm hoping to get a little more back myself but even if I don't this was a big one for me. I can handle anything they throw at me cause I know that with this check they are sending I can pay off the few ones that remain!
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msk7777
Joined: 07 Nov 2006
Posts: 57
Debtcc Points: 1866
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| Posted: Tue Nov 14, 2006 1:25 pm Subject: |
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I just sent this letter to route 66 funding, i guess i'll sit and wait for their response
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drowingindebt
Joined: 10 Nov 2006
Posts: 208
Debtcc Points: 1994
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| Posted: Tue Nov 14, 2006 1:52 pm Subject: |
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can anyone help me edit a post on this thread?
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msk7777
Joined: 07 Nov 2006
Posts: 57
Debtcc Points: 1866
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| Posted: Tue Nov 14, 2006 1:55 pm Subject: |
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MERRY CHRISTMAS MSK777!!!!!!!!!!!!!!!!! HAPPY HOLIDAYS, HAPPY HANUKAH, HAPPY KAWANZI!!!!!!!!!!!!!!!! 
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WHEREAMI
Joined: 26 Aug 2006
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