Lender email & questions

I just want to make sure these are correct before I send them out so if I could get a second set of eyes that have done this before, it'd be a huge help. the Plain Green one is pretty straightforward but I want to make sure the Magnum one is correct.

I have just closed my checking account and opened another account at a different bank. (My old bank was an hour and a half each way from my new home which is why I didn't just change the checking account itself.)

Are these the letters I need to send to my payroll person?  Do I have to send it to payroll?  I'd rather not involve my job, but if I have to I will.

TIA!

Plain Green:

Dear Lender,



It has come to my attention that payday loans are prohibited in the state of
Maryland. Therefore, the loan contract that I have with you, according to my
state’s laws, is not enforceable. Although I am not required to do so, I am
willing to repay the principal balance of the loan. To date, I have received
$1000 and have made 4 payments of $127.50 leaving a balance due of $490. I am
willing to repay the $490 balance via credit card in 5 monthly installments of
$100 each on 1/15, 2/15, 3/15, 4/15 and the balance of $90 on 5/15.



At this time I am revoking ACH authorization. You are no longer authorized to
withdraw payments from my checking account. I am also revoking 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.



Please contact me via email to set up payment arrangements as outlined above.

Magnum:

Dear Lender,



It has come to my attention that payday lenders must be licensed by the state
of Maryland 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. Although I
am not legally required to do so, I am willing to repay the principal balance
of this loan. To date, I received the following deposits totaling $3,600:

DEPOSITS:
DATE POSTED	AMOUNT
12/19/2012	1000
11/29/2012	500
11/6/2012	300
10/12/2012	300
7/5/2012	1500
TOTAL:	3600

 

I have had the following amounts
debited from my account for these loans:

DEBITS:
DATE POSTED	AMOUNT
12/14/2012	-643.2
11/16/2012	-359.07
11/1/2012	-216.9
10/19/2012	-199.45
8/16/2012	-1315.73
8/10/2012	-581.08
7/27/2012	-703.25
TOTAL:	-4018.68

 

This results in an overpayment of $418.68.




At this time I am requesting a return email acknowledging that my loan has been
paid in full. Also, I would like a refund of the $418.68 overpayment. A refund
check of $418.68 should be mailed to me at the address you have on file.



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.

Please respond to this email with acknowledgment that my account has been
satisfied in full. Details of when I can expect the refund check, as discussed
above, should also be included in the email.